Good Reason Event Sample Clauses
A Good Reason Event clause defines specific circumstances under which an employee or party may terminate an agreement without penalty, typically due to significant negative changes in their employment or contractual situation. This clause often applies when there is a material reduction in duties, compensation, or benefits, or a forced relocation, giving the affected party the right to resign and still receive certain contractual benefits, such as severance. Its core function is to protect individuals from unfavorable changes imposed by the other party, ensuring they are not forced to remain in a diminished role or under altered terms without recourse.
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Good Reason Event. A “Good Reason Event” shall be any of the following: (i) without the Executive’s express written consent, a material diminution of the Executive’s duties, authority or responsibilities; (ii) without the Executive’s express written consent, a reduction by the Company of the Executive’s base salary; (iii) without the Executive’s express written consent, the imposition of a requirement that Executive’s primary place of employment be at a facility or a location more than fifty (50) miles from the Executive’s current work location, provided that such requirement to relocate materially increases the Executive’s commute; or (iv) the failure of the Company to obtain the assumption of this Agreement by any successors contemplated in Section 7 below.
Good Reason Event. “Good Reason Event” shall mean that without Optionee’s written consent and without Cause, any of the following events occur:
Good Reason Event. For purposes of this Agreement, a “Good Reason Event” means
Good Reason Event. A “Good Reason Event” shall be any of the following: (i) without the Executive’s express written consent, a material diminution of the Executive’s duties, authority or responsibilities; (ii) without the Executive’s express written consent, a reduction by the Company of the Executive’s base salary; (iii) without the Executive’s express written consent, the imposition of a requirement that Executive’s primary place of employment be at a facility or a location more than fifty (50) miles from the Executive’s current work location, provided that such requirement to relocate materially increases the Executive’s commute; or (iv) the failure of the Company to obtain the assumption of this Agreement by any successors contemplated in Section 6 below. The Executive must provide notice of intent to terminate for a Good Reason within thirty (30) days of occurrence of the event constituting a Good Reason Event, and the Executive may terminate for Good Reason Event only if the Company shall fail to cure such event within fourteen (14) days of receipt of such notice from the Executive.
Good Reason Event. A “Good Reason Event” shall be any of the following: (i) without the Executive’s express written consent, a reduction of the Executive’s duties, position or responsibilities; (ii) without the Executive’s express written consent, a reduction by the Company of the Executive’s base salary; (iii) without the Executive’s express written consent, the imposition of a requirement that Executive’s primary place of employment be at a facility or a location more than fifty (50) miles from the Executive’s current work location; or (iv) the failure of the Company to obtain the assumption of this Agreement by any successors contemplated in Section 8 below.
Good Reason Event. “Good Reason Event” shall mean that without Employee’s written consent and without Cause, any of the following events occur:
Good Reason Event. In the event Participant believes a Good Reason event has been triggered, Participant must give the Board written notice of the purported Good Reason event within ten (10) business days of the first occurrence of such triggering event. The Company shall have the right to cure such purported Good Reason event within thirty (30) days of receipt of said notice. To the extent that the Company does not cure such event within this thirty (30) day period, Participant shall be required to terminate his Employment within thirty (30) days thereafter in order to have his termination of Employment treated as a Good Reason termination hereunder.
Good Reason Event. Each of the following actions that results from a Change of Control of the Company, or that is taken by the Company on the date of or at any time within twelve (12) months following the consummation of a Change of Control of the Company, shall constitute a “Good Reason Event”:
Good Reason Event. Executive's employment may be terminated at any time by Executive without regard to a Good Reason Event.
Good Reason Event. “Good Reason Event” shall mean if following the Company’s acquisition of another corporation or entity, the Board takes any of the following “Actions,” without Optionee’s written consent and without Cause: