Good Reason by the Executive Sample Clauses

The "Good Reason by the Executive" clause defines the circumstances under which an executive may voluntarily resign from their position while still being entitled to certain severance benefits, as if they were terminated without cause. Typically, this clause outlines specific events—such as a significant reduction in duties, a material decrease in compensation, or a forced relocation—that qualify as "good reason." By clearly specifying what constitutes good reason, the clause protects the executive from adverse changes to their employment terms and ensures they are not penalized for resigning in response to such changes.
Good Reason by the Executive. Executive may immediately terminate his employment for “Good Reason,” by giving written notice to the Company. For purposes of this Agreement, “Good Reason” shall mean:
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Good Reason by the Executive. In the event that the Executive intends to terminate his employment for Good Reason, the Executive shall give the Corporation written notice of his intention to terminate his employment, and such termination may be effective immediately, unless a cure period applies, in which case the termination date may not precede the expiration date of the applicable cure period. “Good Reason”, meaning a reasonable determination by the Executive that the following has occurred:
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Good Reason by the Executive. The Executive's employment may be terminated by the Executive at any time for any of the following reasons (each of which is referred to herein as "Good Reason") by giving the Corporation notice of the effective date of such termination (which effective date may be the date of such notice): (1) the Corporation commits a breach of any material term of this Agreement and, if such breach is capable of being cured, fails to cure such breach within 30 days of receipt of written notice of such breach; or (2) the Corporation removes the Executive from the position of Chief Executive Officer of the Corporation, other than for Cause, or the Corporation effects any diminution of the powers, duties or authority of the Executive, in each case, without the prior written consent of the Executive.
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Good Reason by the Executive. If Executive intends to terminate his employment for Good Reason, the Executive must give the Corporation written notice of his intention to terminate his employment within ninety (90) days of the occurrence constituting Good Reason, and such termination shall be effective thirty (30) days after the delivery of such notice unless the Corporation cures the breach giving rise to Good Reason. “Good Reason”, meaning a reasonable determination by the Executive that the following has occurred:
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Good Reason by the Executive. In the event that the Employment Period is terminated by Executive for Good Reason pursuant to Section 8 hereof, Executive shall be entitled to the following payments: (a) Base Salary through the termination date and any bonus that has been actually earned as of or prior to the termination date, but has not been paid; and (b) Continuing payments of Base Salary, payable in accordance with regular payroll practices of the Corporation, for the greater of: [X] twelve months or [Y] the remaining portion of the Employment Period (as it may be extended as provided in Section 2 hereof), but not to exceed twenty-four months.
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Related to Good Reason by the Executive

  • Termination by the Executive Without Good Reason The Executive may terminate his employment on his own initiative for any reason upon 30 days’ prior written notice to the Company; provided, however, that during such notice period, the Executive shall reasonably cooperate with the Company (at no cost to the Executive) in minimizing the effects of such termination on the Company Group. Such termination shall have the same consequences as a termination for Cause under Section 6.2.

  • Voluntary Termination by the Executive Notwithstanding anything in this Agreement to the contrary, the Executive may, upon not less than thirty (30) days' written notice to the Company, voluntarily terminate employment for any reason (including retirement under the terms of the Company's retirement plan as in effect from time to time).

  • Voluntary Termination by the Executive Without Good Reason If the Executive terminates employment without Good Reason, the Executive shall receive the Base Salary and expense reimbursement to which the Executive is entitled through the date on which termination becomes effective.

  • Termination by the Executive for Good Reason The Executive shall have the right to terminate this Agreement for Good Reason. For purposes of this Agreement, “Good Reason” shall mean the occurrence, without the Executive’s express written consent, of any one or more of the following events:

  • Termination by the Employee for Good Reason The Employee shall have the right to terminate for “Good Reason” upon thirty (30) days’ prior written notice. For purposes of this Agreement, “Good Reason” shall mean (i) the Company’s material breach of its obligations under this Agreement, including, without limitation, its obligation to pay salary to the Employee, (ii) a material and adverse diminution in the Employee’s job duties, responsibilities or authority, (iii) a change in the location where the Employee is required to perform his duties and responsibilities which exceeds fifty (50) miles from the location specified in Section 5 hereof, or (iv) a material reduction in the Employee’s base salary, it being intended that an individual or aggregate reduction of more than 10% from the Employee’s prior base salary level shall be considered material for purposes of this Agreement. Employee may not resign Employee’s employment for Good Reason unless (A) Employee gives the Company written notice of his objection to any event set forth above within 30 days following such event, (B) such event is not corrected, in all material respects, by the Company within 30 days following its receipt of such notice, and (C) Employee resigns his employment with the Company not more than 30 days following the expiration of the 30-day correction period described in the foregoing subclause (B). In the event of a termination pursuant to this Section, in addition to any other payments or benefits to which the Employee may be entitled under the Company’s benefit plans then in effect, the Company shall pay to the Employee, (i) his base salary through the date of termination, and (ii) provided that the Employee executes within 21 days after termination of employment and does not revoke a general release of claims against the Company and its affiliates, equityholders officers, directors, agents and employees as to employment, benefits and compensation related claims, in a form acceptable to the Company, an amount equal to one times (1.0x) the sum of Employee’s (a) base salary as of the date of termination and (b) Bonus Amount, payable in a single lump sum within 30 days after the date of termination. In the event a severance payment is made under this Section 7.E., the Company will pay to Employee a monthly payment on the first payroll date of each month equal to the COBRA cost of continued health and dental coverage under health and dental plans of the Company pursuant to Section 4980B of the Internal Revenue Code, less the amount that Employee would be required to contribute for health and dental coverage if Employee were an active employee, for a period of twelve (12) months from the termination date; provided, however, that this obligation shall cease at the end of the Benefits Period. These payments will commence on the Company’s first payroll date after the termination date and will continue until the end of the Benefit Period. For the avoidance of doubt, in the event of a termination under this Section 7.E., the Employee shall not be entitled to any other payments under this Agreement except for the Accrued Obligations or as set forth in the immediately preceding sentence.