Executive Headquarters Clause Samples

Executive Headquarters. Subject to the following sentence of this Section 8(o), within one year of the Commencement Date ("Initial Relocation Date"), the Company will relocate its executive headquarters to, or within thirty miles of, Los Angeles County, California. Notwithstanding the foregoing, if the Company, by action of its Board of Directors, determines not to move such headquarters during such period, or removes such headquarters from such location thereafter, in each case without the consent of the Executive, then (i) all options previously granted to Executive pursuant to the Company's 1997 Stock Incentive Plan or otherwise shall immediately vest and be exercisable in full, and Executive shall thereafter be entitled to exercise such options for two (2) years from the date of such Initial Relocation Date (if the Company determines not to relocate its executive headquarters) or the date of such subsequent removal, as the case may be, and (ii) Executive may, by written notice given within thirty days of the Initial Relocation Date or subsequent removal, as the case may be, terminate his employment with Good Reason pursuant to Section 5(d) hereof.