Common use of Notice of Prospective Action Clause in Contracts

Notice of Prospective Action. You are officially notified or it is officially announced that the Company will take any of the actions listed above during the Term of this Agreement. However, an event that is or would constitute Good Reason shall cease to be Good Reason if: (a) you do not terminate employment within 180 days after the event occurs; (b) the Company reverses the action or cures the default that constitutes Good Reason before you terminate employment; or (c) you were a primary instigator of the Good Reason event and the circumstances make it inappropriate for you to receive benefits under this Agreement (e.g., you agree temporarily to relinquish your position on the occurrence of a merger transaction you negotiate). If you have Good Reason to terminate employment, you may do so even if you are on a leave of absence due to physical or mental illness or any other reason.

Notice of Prospective Action. You During the Term of this Agreement, you are officially notified or it is officially announced that the Company will take any of the actions listed above during the Term of this Agreementabove. However, an event that is or would constitute Good Reason shall cease to be Good Reason if: (a) you do not terminate employment within 180 90 days after the event occurs; (b) the Company reverses the action or cures the default that constitutes Good Reason before you terminate employment; or (c) you were a primary instigator of the Good Reason event and the circumstances make it inappropriate for you to receive benefits under this Agreement (e.g., you agree temporarily to relinquish your position on the occurrence of a merger transaction you negotiate). If you have Good Reason to terminate employment, you may do so even if you are on a leave of absence due to physical or mental illness or any other reason.