Common use of Good Reason for Termination Clause in Contracts

Good Reason for Termination. by Executive of Executive's employment means the occurrence (without Executive's express written consent) of any one of the following acts by the Company or failures by the Company to act: (a) the assignment to Executive of any duties inconsistent in any material respect with the position of (including status, office, title and reporting requirements), or the authority, duties or responsibilities of the , or any other diminution in any material respect in such position, authority, duties or responsibilities unless agreed to by Executive; (b) the Company's requiring Executive to be based at, or perform his principal functions at, any office or location other than a location within 35 miles of the Main Office unless such other location is closer to Executive's then-primary residence than the Main Office; (c) a reduction in Base Salary or annual incentive target opportunity under the Executive Annual Incentive Plan or other such plan; and (d) a material reduction in Executive's welfare benefits plans, qualified retirement plan, or paid time off benefit unless other senior executives suffer a comparable reduction.

Good Reason for Termination. by Executive of Executive's employment means the occurrence (without Executive's express written consent) of any one of the following acts by the Company or failures by the Company to act: (a) the assignment to Executive of any duties inconsistent in any material respect with the position of Chief Financial Officer (including status, office, title and reporting requirements), or the authority, duties or responsibilities of the Chief Financial Officer, or any other diminution in any material respect in such position, authority, duties or responsibilities unless agreed to by Executive; (b) the Company's requiring Executive to be based at, or perform his principal functions at, any office or location other than a location within 35 miles of the Main Office unless such other location is closer to Executive's then-primary residence than the Main Office; (c) a reduction in Base Salary or annual incentive target opportunity under the Executive Annual Incentive Plan or other such plan; and (d) a material reduction in Executive's welfare benefits plans, qualified retirement plan, or paid time off benefit unless other senior executives suffer a comparable reduction.