Common use of Involuntary Resignation Clause in Contracts

Involuntary Resignation. For purposes of this Agreement, an "involuntary resignation" shall mean, following a change of control as defined in paragraph 4 (c), the Executive's decision to no longer serve as an executive officer of the Company, which decision shall have resulted from one of the following events: (i) a substantial diminution of the Executive's duties without the Executive's prior written consent; OR (ii) a relocation or attempted relocation of the Executive without the Executive's written consent to an office outside a twenty-five (25) mile radius of the Executives' work/office location; OR (iii) Rehabilitation, receivership, conservation, liquidation or other legal event by government regulators.

Involuntary Resignation. For purposes of this Agreement, an "“involuntary resignation" ” shall mean, following a change of control as defined in paragraph 4 (c), the Executive's ’s decision to no longer serve as an executive officer of the Company, which decision shall have resulted from one of the following events: (i) a substantial diminution of the Executive's ’s duties without the Executive's ’s prior written consent; ORor (ii) a relocation or attempted relocation of the Executive without the Executive's ’s written consent to an office outside a twenty-five (25) mile radius of the Executives' ’ work/office location; ORor (iii) Rehabilitation, receivership, conservation, liquidation or other legal event by government regulators.