Common use of Notice of Good Reason Clause in Contracts

Notice of Good Reason. If Executive believes that Executive is entitled to terminate employment with the Corporation for Good Reason, the Executive may apply in writing to the Corporation for confirmation of such entitlement prior to the Executive’s actual separation from employment, by following the claims procedure set forth in Section 14 hereof. The submission of such a request by Executive shall not constitute Cause for the Corporation to terminate an Executive, and Executive shall continue to receive all compensation and benefits otherwise payable pursuant to this Agreement at the time of such submission throughout the resolution of the matter pursuant to the procedures set forth in Section 14 hereof. If the Executive’s request for a termination of employment for Good Reason is denied under both the request and appeal procedures set forth in Section 14(b) and (c) hereof, then the parties shall use their best efforts to resolve the claim within ninety (90) days after the claim is submitted to binding arbitration pursuant to Section 14(d).