Common use of Resignation of Executive Clause in Contracts

Resignation of Executive. Executive may resign his employment at any time for any reason upon fifteen (15) days advance written notice to the President and Chief Executive Officer. If Executive resigns his employment without Good Reason (as that term is defined below), he shall not be entitled to severance pay. If Executive resigns his employment for Good Reason, the Company shall pay Executive the severance pay set forth in Section 4.2 below provided Executive agrees to release any claims he may have against the Company in exchange for receipt of severance pay. For purposes of the Agreement, Good Reason shall mean the occurrence of any of the following events, which the Company has not cured within thirty (30) days of notice thereof: a. A material breach of this Agreement by the Company; b. A material adverse change in Executive’s status or position as an executive officer of the Company as a result of a material diminution in Executive’s duties, responsibilities, or authority as of the date of this Agreement (except in connection with the termination of Executive’s employment in accordance with Section 4.3 hereof); c. A reduction by the Company of the Executive’s base salary as the same may be increased from time to time; d. Without replacement by a plan providing benefits to Executive equal to or greater than those discontinued or by payment of cash in lieu of such benefits, the failure by the Company to continue in effect, within its maximum stated term, any employee benefit plan in which Executive is participating in prior to the date of this Agreement or taking of any action by the Company that would adversely affect Executive’s participation or materially reduce Executive’s benefits under all such plans; provided, however, that Good Reason shall not include changes, modifications, and terminations of the Company’s standard benefit policies and plans which are generally applicable to the Company’s officers and employees; or e. The Company’s requiring Executive to be based anywhere other than that Minneapolis/St. ▇▇▇▇, Minnesota metropolitan statistical area, except for required travel on the Company’s business.

Resignation of Executive. Executive may resign his her employment at any time for any reason upon fifteen (15) days advance written notice to the President and Chief Executive Officer. If Executive resigns his her employment without Good Reason (as that term is defined below), he she shall not be entitled to severance pay. If Executive resigns his her employment for Good Reason, the Company shall pay Executive the severance pay set forth in Section 4.2 below provided Executive agrees to release any claims he she may have against the Company in exchange for receipt of severance pay. For purposes of the Agreement, Good Reason shall mean the occurrence of any of the following events, which the Company has not cured within thirty (30) days of notice thereof: a. A material breach of this Agreement by the Company; b. A material adverse change in Executive’s status or position as an executive officer of the Company as a result of a material diminution in Executive’s duties, responsibilities, or authority as of the date of this Agreement (except in connection with the termination of Executive’s employment in accordance with Section 4.3 hereof); c. A reduction by the Company of the Executive’s base salary as the same may be increased from time to time; d. Without replacement by a plan providing benefits to Executive equal to or greater than those discontinued or by payment of cash in lieu of such benefits, the failure by the Company to continue in effect, within its maximum stated term, any employee benefit plan in which Executive is participating in prior to the date of this Agreement or taking of any action by the Company that would adversely affect Executive’s participation or materially reduce Executive’s benefits under all such plans; provided, however, that Good Reason shall not include changes, modifications, and terminations of the Company’s standard benefit policies and plans which are generally applicable to the Company’s officers and employees; or e. The Company’s requiring Executive to be based anywhere other than that Minneapolis/St. ▇▇▇▇, Minnesota metropolitan statistical area, except for required travel on the Company’s business.

Resignation of Executive. Executive may resign his employment at any time for any reason upon fifteen (15) days advance written notice to the President and Chief Executive Officer. If Executive resigns his employment without Good Reason (as that term is defined below), he shall not be entitled to severance pay. If Executive resigns his employment for Good Reason, the Company shall pay Executive the severance pay and medical insurance benefits set forth in Section 4.2 below provided Executive agrees to release any claims he may have against the Company in exchange for receipt of severance paypay and medical insurance benefits. For purposes of the Agreement, Good Reason shall mean the occurrence of any of the following events, which the Company has not cured within thirty (30) days of notice thereof: a. A material breach of this Agreement by the Company; b. A material adverse change in Executive’s status or position as an executive officer of the Company as a result of a material diminution in Executive’s duties, responsibilities, or authority as of the date of this Agreement (except in connection with the termination of Executive’s employment in accordance with Section 4.3 hereof); c. A reduction by the Company of the Executive’s base salary as the same may be increased from time to time; d. Without replacement by a plan providing benefits to Executive equal to or greater than those discontinued or by payment of cash in lieu of such benefits, the failure by the Company to continue in effect, within its maximum stated term, any employee benefit plan in which Executive is participating in prior to the date of this Agreement or taking of any action by the Company that would adversely affect Executive’s participation or materially reduce Executive’s benefits under all such plans; provided, however, that Good Reason shall not include changes, modifications, and terminations of the Company’s standard benefit policies and plans which are generally applicable to the Company’s officers and employees; or e. The Company’s requiring Executive to be based anywhere other than that Minneapolis/St. ▇▇▇▇, Minnesota metropolitan statistical area, except for required travel on the Company’s business.

Resignation of Executive. Executive may resign his employment at any time for any reason upon fifteen (15) days advance written notice to the President Chief Financial Officer and Chief Executive Operating Officer. If Executive resigns his employment without Good Reason (as that term is defined below), he shall not be entitled to severance pay. If Executive resigns his employment for Good Reason, the Company shall pay Executive the severance pay set forth in Section 4.2 below provided Executive agrees to release any claims he may have against the Company in exchange for receipt of severance pay. For purposes of the Agreement, Good Reason shall mean the occurrence of any of the following events, which the Company has not cured within thirty (30) days of notice thereof: a. A material breach of this Agreement by the Company; b. A material adverse change in Executive’s status or position as an executive officer of the Company as a result of a material diminution in Executive’s duties, responsibilities, or authority as of the date of this Agreement (except in connection with the termination of Executive’s employment in accordance with Section 4.3 hereof); c. A reduction by the Company of the Executive’s base salary as the same may be increased from time to time; d. Without replacement by a plan providing benefits to Executive equal to or greater than those discontinued or by payment of cash in lieu of such benefits, the failure by the Company to continue in effect, within its maximum stated term, any employee benefit plan in which Executive is participating in prior to the date of this Agreement or taking of any action by the Company that would adversely affect Executive’s participation or materially reduce Executive’s benefits under all such plans; provided, however, that Good Reason shall not include changes, modifications, and terminations of the Company’s standard benefit policies and plans which are generally applicable to the Company’s officers and employees; or e. The Company’s requiring Executive to be based anywhere other than that Minneapolis/St. ▇▇▇▇, Minnesota metropolitan statistical area, except for required travel on the Company’s business.

Resignation of Executive. Executive may resign his employment at any time for any reason upon fifteen (15) days advance written notice to the President and Chief Executive OfficerBoard of Directors. If Executive resigns his employment without Good Reason (as that term is defined below), he shall not be entitled to severance pay. If Executive resigns his employment for Good Reason, the Company shall pay Executive the severance pay set forth in Section 4.2 below provided Executive agrees to release any claims he may have against the Company in exchange for the receipt of severance pay. For purposes of the this Agreement, Good Reason shall mean the occurrence of any of the following events, which the Company has not cured within thirty (30) days of notice thereof: a. A material breach of this Agreement by the Company; b. A material adverse change in Executive’s 's status or position as an executive officer of the Company as a result of a material diminution in Executive’s 's duties, responsibilities, responsibilities or authority as of the date of this Agreement (except in connection with the termination of Executive’s 's employment in accordance with Section 4.3 hereof); c. A reduction by the Company of the Executive’s base salary 's Base Salary as the same may be increased from time to time; d. Without replacement by a plan providing benefits to Executive equal to or greater than those discontinued or by payment of cash in lieu of such benefits, the failure by the Company to continue in effect, within its maximum stated term, any employee benefit plan in which Executive is participating in immediately prior to the date of this Agreement or the taking of any action by the Company that would adversely affect Executive’s 's participation or materially reduce Executive’s 's benefits under all such plans; provided, however, that Good Reason shall not include changes, modifications, modifications and terminations of the Company’s 's standard benefit policies and plans which are generally applicable to the Company’s 's officers and employees; or e. The Company’s 's requiring Executive to be based anywhere other than that the Minneapolis/St. ▇▇▇▇, Minnesota metropolitan statistical area, except for required travel on the Company’s 's business.

Resignation of Executive. Executive may resign his employment at any time for any reason upon fifteen (15) days advance written notice to the President and Chief Executive Officer. If Executive resigns his employment without Good Reason (as that term is defined below), he shall not be entitled to severance pay. If Executive resigns his employment for Good Reason, the Company shall pay Executive the severance pay set forth in Section 4.2 below provided Executive agrees to release any claims he may have against the Company in exchange for receipt of severance pay. For purposes of the Agreement, Good Reason shall mean the occurrence of any of the following events, which the Company has not cured within thirty (30) days of notice thereof: a. A material breach of this Agreement by the Company;; RG Executive MC Company b. A material adverse change in Executive’s status or position as an executive officer of the Company as a result of a material diminution in Executive’s duties, responsibilities, or authority as of the date of this Agreement (except in connection with the termination of Executive’s employment in accordance with Section 4.3 hereof); c. A reduction by the Company of the Executive’s base salary as the same may be increased from time to time; d. Without replacement by a plan providing benefits to Executive equal to or greater than those discontinued or by payment of cash in lieu of such benefits, the failure by the Company to continue in effect, within its maximum stated term, any employee benefit plan in which Executive is participating in prior to the date of this Agreement or taking of any action by the Company that would adversely affect Executive’s participation or materially reduce Executive’s benefits under all such plans; provided, however, that Good Reason shall not include changes, modifications, and terminations of the Company’s standard benefit policies and plans which are generally applicable to the Company’s officers and employees; or e. The Company’s requiring Executive to be based anywhere other than that Minneapolis/St. ▇▇▇▇, Minnesota metropolitan statistical areaarea or the location Executive has chosen to be based out of, except for required travel on the Company’s business.

Resignation of Executive. Executive may resign his employment at any time for any reason upon fifteen (15) days advance written notice to the President and Chief Executive Officer. If Executive resigns his employment without Good Reason (as that term is defined below), he shall not be entitled to severance pay. If Executive resigns his employment for Good Reason, the Company shall pay Executive the severance pay set forth in Section 4.2 below provided Executive agrees to release any claims he may have against the Company in exchange for receipt of severance pay. For purposes of the Agreement, Good Reason shall mean the occurrence of any of the following events, which the Company has not cured within thirty (30) days of notice thereof: a. A material breach of this Agreement or any other written agreement with the Executive by the Company;; VS Executive MC Company b. A material adverse change in Executive’s status or position as an executive officer of the Company as a result of a material diminution in Executive’s duties, responsibilities, or authority as of the date of this Agreement (except in connection with the termination of Executive’s employment in accordance with Section 4.3 hereof); c. A reduction by the Company of the Executive’s base salary as the same may be increased from time to time; d. Without replacement by a plan providing benefits to Executive equal to or greater than those discontinued or by payment of cash in lieu of such benefits, the failure by the Company to continue in effect, within its maximum stated term, any employee benefit plan in which Executive is participating in prior to the date of this Agreement or taking of any action by the Company that would adversely affect Executive’s participation or materially reduce Executive’s benefits under all such plans; provided, however, that Good Reason shall not include changes, modifications, and terminations of the Company’s standard benefit policies and plans which are generally applicable to the Company’s officers and employees; or e. The Company’s requiring Executive to be based anywhere other than that Minneapolis/St. ▇▇▇▇, Minnesota metropolitan statistical area, except for required travel on the Company’s business.

Resignation of Executive. Executive may resign his employment at any time for any reason upon fifteen (15) days advance written notice to the President and Chief Executive OfficerBoard of Directors. If Executive resigns his employment without Good Reason (as that term is defined below), he shall not be entitled to severance pay. If Executive resigns his employment for Good Reason, the Company shall pay Executive the severance pay set forth in Section 4.2 below provided Executive agrees to release any claims he may have against the Company in exchange for the receipt of severance pay. For purposes of the this Agreement, Good Reason shall mean the occurrence of any of the following events, which the Company has not cured within thirty (30) days of notice thereof: a. A material breach of this Agreement by the Company; b. A material adverse change in Executive’s status or position as an executive officer of the Company as a result of a material diminution in Executive’s duties, responsibilities, responsibilities or authority as of the date of this Agreement (except in connection with the termination of Executive’s employment in accordance with Section 4.3 hereof); c. A reduction by the Company of the Executive’s base salary Base Salary as the same may be increased from time to time; d. Without replacement by a plan providing benefits to Executive equal to or greater than those discontinued or by payment of cash in lieu of such benefits, the failure by the Company to continue in effect, within its maximum stated term, any employee benefit plan in which Executive is participating in immediately prior to the date of this Agreement or the taking of any action by the Company that would adversely affect Executive’s participation or materially reduce Executive’s benefits under all such plans; provided, however, that Good Reason shall not include changes, modifications, modifications and terminations of the Company’s standard benefit policies and plans which are generally applicable to the Company’s officers and employees; or e. The Company’s requiring Executive to be based anywhere other than that the Minneapolis/St. ▇▇▇▇, Minnesota metropolitan statistical area, except for required travel on the Company’s business.

Resignation of Executive. Executive may resign his employment at any time for any reason upon fifteen (15) days advance written notice to the President and Chief Executive OfficerChairman of the Board. If Executive resigns his employment without Good Reason (as that term is defined below), he shall not be entitled to severance pay. If Executive resigns his employment for Good Reason, the Company shall pay Executive the severance pay and medical insurance benefits set forth in Section 4.2 below provided Executive agrees to release any claims he may have against the Company in exchange for receipt of severance paypay and medical insurance benefits. For purposes of the Agreement, Good Reason shall mean the occurrence of any of the following events, which the Company has not cured within thirty (30) days of notice thereof: a. A material breach of this Agreement by the Company; b. A material adverse change in Executive’s status or position as an executive officer of the Company as a result of a material diminution in Executive’s duties, responsibilities, or authority as of the date of this Agreement (except in connection with the termination of Executive’s employment in accordance with Section 4.3 hereof); c. A reduction by the Company of the Executive’s base salary as the same may be increased from time to time; d. Without replacement by a plan providing benefits to Executive equal to or greater than those discontinued or by payment of cash in lieu of such benefits, the failure by the Company to continue in effect, within its maximum stated term, any employee benefit plan in which Executive is participating in prior to the date of this Agreement or taking of any action by the Company that would adversely affect Executive’s participation or materially reduce Executive’s benefits under all such plans; provided, however, that Good Reason shall not include changes, modifications, and terminations of the Company’s standard benefit policies and plans which are generally applicable to the Company’s officers and employees; or e. The Company’s requiring Executive to be based anywhere other than that Minneapolis/St. ▇▇▇▇, Minnesota metropolitan statistical area, except for required travel on the Company’s business.

Resignation of Executive. Executive may resign his employment at any time for any reason upon fifteen (15) days advance written notice to the President and Chief Executive Officer. If Executive resigns his employment without Good Reason (as that term is defined below), he shall not be entitled to severance pay. If Executive resigns his employment for Good Reason, the Company shall pay Executive the severance pay set forth in Section 4.2 below provided Executive agrees to release any claims he may have against the Company in exchange for receipt of severance pay. For purposes of the Agreement, Good Reason shall mean the occurrence of any of the following events, which the Company has not cured within thirty (30) days of notice thereof: a. A material breach of this Agreement or any other written agreement with the Executive by the Company; b. A material adverse change in Executive’s status or position as an executive officer of the Company as a result of a material diminution in Executive’s duties, responsibilities, or authority as of the date of this Agreement (except in connection with the termination of Executive’s employment in accordance with Section 4.3 hereof); c. A reduction by the Company of the Executive’s base salary as the same may be increased from time to time; d. Without replacement by a plan providing benefits to Executive equal to or greater than those discontinued or by payment of cash in lieu of such AA Executive MHC Company benefits, the failure by the Company to continue in effect, within its maximum stated term, any employee benefit plan in which Executive is participating in prior to the date of this Agreement or taking of any action by the Company that would adversely affect Executive’s participation or materially reduce Executive’s benefits under all such plans; provided, however, that Good Reason shall not include changes, modifications, and terminations of the Company’s standard benefit policies and plans which are generally applicable to the Company’s officers and employees; or e. The Company’s requiring Executive to be based anywhere other than that Minneapolis/St. ▇▇▇▇, Minnesota metropolitan statistical area, except for required travel on the Company’s business.