Alteration of Duties. If the Board of Directors of the Corporation, in its sole discretion, takes action which substantially changes or alters Executive’s authority or duties so as to effectively prevent Executive from performing the duties of the President and Chief Executive Officer as defined in this Agreement, or requires that his office be located at and/or principal duties be performed at a location more than forty-five (45) miles from the present corporate headquarters of the Corporation located in Parsippany, New Jersey, then Executive may, at his option and upon written notice to the Board of Directors within thirty (30) days after the Board’s action, consider Executive terminated without Cause and, subject to the Release requirement of Paragraph 8(b), become entitled to the benefits set forth in Paragraph 8(a), unless within thirty (30) days after delivery of such notice, Executive’s duties have been restored or the Corporation’s actions have otherwise been cured.
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Alteration of Duties. If the Board of Directors of the Corporation, in its sole discretion, takes action which substantially changes or alters Executive’s authority or duties so as to effectively prevent Executive him from performing the duties of the President and Chief Executive Officer as defined in this Agreement, or requires that his office be located at and/or principal duties be performed at a location more than forty-five (45) miles from the present corporate headquarters of the Corporation located in Parsippany, New Jersey, then Executive may, at his option and upon written notice to the Board of Directors within thirty (30) days after the Board’s action, consider Executive himself terminated without Cause and, subject to the Release requirement of Paragraph 8(b), become cause and entitled to the benefits set forth in Paragraph 8(a), unless within thirty (30) days after delivery of such notice, Executive’s duties have been restored or the Corporation’s actions have otherwise been curedrestored.
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