Common use of Good Reason Event Clause in Contracts

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.

Appears in 2 contracts

Sources: Transition Employment Agreement (Pixelworks, Inc), Transition Employment Agreement (Pixelworks, Inc)