Common use of Redesignation Clause in Contracts

Redesignation. The Board may, in its discretion, elect or appoint the Employee to offices or positions other than, or in addition to, Chairman, President and Chief Executive Officer (hereinafter the "Redesignation") by providing the Employee with prompt written notice of the Redesignation. If any Redesignation and related addition to and/or reduction of Employee's duties results in a substantial net change in the scope of the Employee's responsibilities, the Employee may elect, in his sole discretion, not to accept such Redesignation and to resign upon providing written notice of his resignation to the Employer not less than thirty (30) days after the Employee has been provided with written notice of the Redesignation. In such event, the Employer shall pay, if such Redesignation occurs during the Employment Period, the Employee his annual salary, as provided herein, for three (3) years following the effective date of such resignation or until January 1, 2001, whichever is the longer period. In the event that the Redesignation shall occur at any time after the Employment Period, and during one of the Renewal Periods, the Employer shall pay the Employee his annual salary, as provided herein, for three (3) years following the effective date of such resignation. All sums owing hereunder in the event of a Redesignation and a subsequent resignation by the Employee shall be due and payable within thirty (30) days of the effective date of such resignation. Furthermore, in the event of such Redesignation and subsequent resignation, all Deferred Salary, 4 - 4 - including $104,000 deferred prior to the effective date of this agreement, (hereinafter referred to as the "Deferred Salary") and/or other monies owed the Employee under any voluntary or company-imposed compensation deferral program, shall also be payable within thirty (30) days of the effective date of such resignation. These amounts shall be paid in cash in accordance with policies and procedures covering the Employee and all similarly-situated Company employees at that time.

Redesignation. The Board Employer may, in its discretion, elect or appoint the Employee to offices or positions at DTS other than, or in addition toto DTS President, Chairman, President and Chief Executive Officer (hereinafter the "Redesignation") by providing the Employee with prompt written notice of the Redesignation. If any Redesignation and related addition to and/or reduction of Employee's duties results in a substantial net change in the scope of the Employee's responsibilities, the Employee may elect, in his sole discretion, not to accept such Redesignation and to resign upon providing written notice of his resignation to the Employer not less than thirty (30) days after the Employee has been provided with written notice of the Redesignation. In such event, the Employer shall pay, if such termination of employment occurs following a Redesignation occurs during the Employment Period, the Employer shall pay the Employee his annual salarytotal monthly compensation rate, as provided herein, for three twelve (312) years months following the effective date of such resignation or until January March 1, 2001, whichever is the longer periodlonger. In the event that the Redesignation shall occur at any time after the Employment Period, and during one of the Renewal Periods, the Employer shall pay the Employee his annual salarytotal monthly compensation rate, as provided herein, for three twelve (312) years months following the effective date of such resignation. All sums owing hereunder in the event of a Redesignation and a subsequent resignation by the Employee shall be due and payable within thirty (30) days paid on regular payroll periods of the Employer following the effective date of such resignation. Furthermore, in the event of such Redesignation and subsequent resignation, all Deferred Salary, 4 - 4 - including $104,000 deferred prior to the effective date of this agreement, (hereinafter referred to as the "Deferred Salary") and/or other monies owed the Employee under any voluntary or company-imposed compensation deferral program, shall also be payable within thirty (30) days of the effective date of such resignation. These amounts shall be paid in cash in accordance with policies and procedures covering the Employee and all similarly-situated Company employees at that time.

Redesignation. The Board may, in its discretion, elect or appoint the Employee to offices or positions other than, or in addition to, Chairman, President and Chief Executive Officer (hereinafter the "Redesignation") by providing the Employee with prompt written notice of the Redesignation. If any Redesignation and related addition to and/or reduction of Employee's duties results in a substantial net change in the scope of the Employee's responsibilities, the Employee may elect, in his sole discretion, not to accept such Redesignation and to resign upon providing written notice of his resignation to the Employer not less than thirty (30) days after the Employee has been provided with written notice of the Redesignation. In such event, the Employer shall pay, if such Redesignation occurs during the Employment Period, the Employer shall pay the Employee his annual salary, as provided herein, for three (3) years following the effective date of such resignation or until January 1October 15, 20012002, whichever is the longer period. In the event that the Redesignation shall occur at any time after the Employment Period, and during one of the Renewal Periods, the Employer shall pay the Employee his annual salary, as provided herein, for three (3) years following the effective date of such resignation. All sums owing hereunder in the event of a Redesignation and a subsequent resignation by the Employee shall be due and payable within thirty (30) days of the effective date of such resignation. Furthermore, in the event of such Redesignation and subsequent resignation, all Deferred Salary, 4 - 4 - including $104,000 deferred prior to the effective date of this agreement, (hereinafter referred to as the "Deferred Salary") and/or other monies owed the Employee under any voluntary or company-imposed compensation deferral program, shall also be payable within thirty (30) days of the effective date of such resignation. These amounts shall be paid in cash in accordance with policies and procedures covering the Employee and all similarly-situated Company employees at that time.

Redesignation. The Board Chairman and Chief Executive Officer may, in its his discretion, with the concurrence of the Board, elect or appoint the Employee to offices or positions other than, or in addition to, Chairman, President and Chief Executive Financial Officer (hereinafter the "Redesignation") by providing the Employee with prompt written notice of the Redesignation. If any Redesignation and related addition to and/or reduction of Employee's duties results in a substantial net change in the scope of the Employee's responsibilities, the Employee may elect, in his sole discretion, not to accept such Redesignation and to resign upon providing written notice of his resignation to the Employer not less than thirty (30) days after the Employee has been provided with written notice of the Redesignation. In such event, the Employer shall pay, if such Redesignation occurs during the Employment Period, the Employer shall pay the Employee his annual salary, as provided herein, for three one (31) years year following the effective date of such resignation or until January July 1, 20012004, whichever is the longer period. In the event that the Redesignation shall occur at any time after the Employment Period, and during one of the Renewal Periods, the Employer shall pay the Employee his annual salary, as provided herein, for three one (31) years year following the effective date of such resignation. All sums owing hereunder in the event of a Redesignation and a subsequent resignation by the Employee shall be due and payable within thirty (30) days of the effective date of such resignation. Furthermore, in the event of such Redesignation and subsequent resignation, all Deferred Salary, 4 - 4 - including $104,000 deferred prior to the effective date of this agreement, (hereinafter referred to as the "Deferred Salary") and/or other monies owed the Employee under any voluntary or company-imposed compensation deferral program, shall also be payable within thirty (30) days of the effective date of such resignation. These amounts shall be paid in cash in accordance with policies and procedures covering the Employee and all similarly-situated Company employees at that time.

Redesignation. The Board Employer may, in its discretion, elect or appoint the Employee to offices or positions at DTS or at Microtel other than, or in addition toto DTS CEO, Chairman, President and Chief Executive Officer (hereinafter the "Redesignation") by providing the Employee with prompt written notice of the Redesignation. If any Redesignation and related addition to and/or reduction of Employee's duties results in a substantial net change in the scope of the Employee's responsibilities, the Employee may elect, in his sole discretion, not to accept such Redesignation and to resign upon providing written notice of his resignation to the Employer not less than thirty (30) days after the Employee has been provided with written notice of the Redesignation. In such event, the Employer shall pay, if such termination of employment occurs following a Redesignation occurs during the Employment Period, the Employer shall pay the Employee his annual salarytotal monthly compensation rate, as provided herein, for three twelve (312) years months following the effective date of such resignation or until January March 1, 20012000, whichever is the longer periodlonger. In the event that the Redesignation shall occur at any time after the Employment Period, and during one of the Renewal Periods, the Employer shall pay the Employee his annual salarytotal monthly compensation rate, as provided herein, for three twelve (312) years months following the effective date of such resignation. All sums owing hereunder in the event of a Redesignation and a subsequent resignation by the Employee shall be due and payable within thirty (30) days paid on regular payroll periods of the Employer following the effective date of such resignation. Furthermore, in the event of such Redesignation and subsequent resignation, all Deferred Salary, 4 - 4 - including $104,000 deferred prior to the effective date of this agreement, (hereinafter referred to as the "Deferred Salary") and/or other monies owed the Employee under any voluntary or company-imposed compensation deferral program, shall also be payable within thirty (30) days of the effective date of such resignation. These amounts shall be paid in cash in accordance with policies and procedures covering the Employee and all similarly-situated Company employees at that time.

Redesignation. The Board Chairman and Chief Executive Officer may, in its his discretion, with the concurrence of the Board, elect or appoint the Employee to offices or positions other than, or in addition to, Chairman, President and Chief Executive Financial Officer (hereinafter the "Redesignation") by providing the Employee with prompt written notice of the Redesignation. If any Redesignation and related addition to and/or reduction of Employee's duties results in a substantial net change in the scope of the Employee's responsibilities, the Employee may elect, in his sole discretion, not to accept such Redesignation and to resign upon providing written notice of his resignation to the Employer not less than thirty (30) days after the Employee has been provided with written notice of the Redesignation. In such event, the Employer shall pay, if such Redesignation occurs during the Employment Period, the Employer shall pay the Employee his annual salary, as provided herein, for three one (31) years year following the effective date of such resignation or until January 1, 2001, whichever is the longer period. In the event that the Redesignation shall occur at any time after the Employment Period, and during one of the Renewal Periods, the Employer shall pay the Employee his annual salary, as provided herein, for three one (31) years year following the effective date of such resignation. All sums owing hereunder in the event of a Redesignation and a subsequent resignation by the Employee shall be due and payable within thirty (30) days of the effective date of such resignation. Furthermore, in the event of such Redesignation and subsequent resignation, all Deferred Salary, 4 - 4 - including $104,000 deferred prior to the effective date of this agreement, (hereinafter referred to as the "Deferred Salary") and/or other monies owed the Employee under any voluntary or company-imposed compensation deferral program, shall also be payable within thirty (30) days of the effective date of such resignation. These amounts shall be paid in cash in accordance with policies and procedures covering the Employee and all similarly-situated Company employees at that time.

Redesignation. The Board Chairman and Chief Executive Officer may, in its his discretion, with the concurrence of the Board, elect or appoint the Employee to offices or positions other than, or in addition to, Chairman, President and Chief Executive Officer Managing Director (hereinafter the "Redesignation") by providing the Employee with prompt written notice of the Redesignation. If any Redesignation and related addition to and/or reduction of Employee's duties results in a substantial net change in the scope of the Employee's responsibilities, the Employee may elect, in his sole discretion, not to accept such Redesignation and to resign upon providing written notice of his resignation to the Employer not less than thirty (30) days after the Employee has been provided with written notice of the Redesignation. In such event, the Employer shall pay, if such Redesignation occurs during the Employment Period, the Employer shall pay the Employee his annual salary, as provided herein, for three one (31) years year following the effective date of such resignation or until January May 1, 20012000, whichever is the longer period. In the event that the Redesignation shall occur at any time after the Employment Period, and during one of the Renewal Periods, the Employer shall pay the Employee his annual salary, as provided herein, for three one (31) years year following the effective date of such resignation. All sums owing hereunder in the event of a Redesignation and a subsequent resignation by the Employee shall be due and payable within thirty (30) days of the effective date of such resignation. Furthermore, in the event of such Redesignation and subsequent resignation, all Deferred Salary, 4 - 4 - including $104,000 deferred prior to the effective date of this agreement, (hereinafter referred to as the "Deferred Salary") and/or other monies owed the Employee under any voluntary or company-imposed compensation deferral program, shall also be payable within thirty (30) days of the effective date of such resignation. These amounts shall be paid in cash in accordance with policies and procedures covering the Employee and all similarly-situated Company employees at that time.

Redesignation. The Board Chairman and Chief Executive Officer may, in its his discretion, with the concurrence of the Board, elect or appoint the Employee to offices or positions other than, or in addition to, Chairman, President and Chief Executive Officer Managing Director (hereinafter the "Redesignation") by providing the Employee with prompt written notice of the Redesignation. If any Redesignation and related addition to and/or reduction of Employee's duties results in a substantial net change in the scope of the Employee's responsibilities, the Employee may elect, in his sole discretion, not to accept such Redesignation and to resign upon providing written notice of his resignation to the Employer not less than thirty (30) days after the Employee has been provided with written notice of the Redesignation. In such event, the Employer shall pay, if such Redesignation occurs during the Employment Period, the Employer shall pay the Employee his annual salary, as provided herein, for three one (31) years year following the effective date of such resignation or until January July 1, 20012004, whichever is the longer period. In the event that the Redesignation shall occur at any time after the Employment Period, and during one of the Renewal Periods, the Employer shall pay the Employee his annual salary, as provided herein, for three one (31) years year following the effective date of such resignation. All sums owing hereunder in the event of a Redesignation and a subsequent resignation by the Employee shall be due and payable within thirty (30) days of the effective date of such resignation. Furthermore, in the event of such Redesignation and subsequent resignation, all Deferred Salary, 4 - 4 - including $104,000 deferred prior to the effective date of this agreement, (hereinafter referred to as the "Deferred Salary") and/or other monies owed the Employee under any voluntary or company-imposed compensation deferral program, shall also be payable within thirty (30) days of the effective date of such resignation. These amounts shall be paid in cash in accordance with policies and procedures covering the Employee and all similarly-situated Company employees at that time.