Common use of Remedy by Company Clause in Contracts

Remedy by Company. If Executive gives the Company a Notice of Termination which states that the basis for Executive's termination of employment is Good Reason, the Company shall have ten days after receipt of such Notice to remedy the facts and circumstances which provided Good Reason. Executive shall make a good faith reasonable determination immediately after such ten-day period whether such facts and circumstances have been remedied and shall communicate such determination in writing to the Company. If Executive determines that adequate remedy has not occurred, then the initial Notice of Termination shall remain in effect.

Appears in 11 contracts

Samples: Termination Agreement (Petroquest Energy Inc), Termination Agreement (Texas Biotechnology Corp /De/), Termination Agreement (Petroquest Energy Inc)

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Remedy by Company. If Executive gives the Company a Notice of Termination which states that the basis for Executive's ’s termination of employment is Good Reason, the Company shall have ten days after receipt of such Notice to remedy the facts and circumstances which provided Good Reason. Executive shall make a good faith reasonable determination immediately after such ten-day period whether such facts and circumstances have been remedied and shall communicate such determination in writing to the Company. If Executive determines that adequate remedy has not occurred, then the initial Notice of Termination shall remain in effect.

Appears in 5 contracts

Samples: Termination Agreement (Petroquest Energy Inc), Restructuring Support Agreement (Petroquest Energy Inc), Termination Agreement (Petroquest Energy Inc)

Remedy by Company. If Executive Employee gives the Company a Notice of Termination which states that the basis for Executive's Employee’s termination of employment is Good Reason, the Company shall have ten days after receipt of such Notice to remedy the facts and circumstances which provided Good Reason. Executive Employee shall make a good faith reasonable determination immediately after such ten-day period whether such facts and circumstances have been remedied and shall communicate such determination in writing to the Company. If Executive Employee determines that adequate remedy has not occurred, then the initial Notice of Termination shall remain in effect.

Appears in 1 contract

Samples: Restructuring Support Agreement (Petroquest Energy Inc)

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Remedy by Company. If Executive gives the Company a Notice of Termination which states that the basis for Executive's termination of employment is Good Reason, the Company shall have ten days after receipt of such Notice to remedy the facts and circumstances which provided Good Reason. Executive shall make a good faith reasonable determination immediately after such ten-day period whether such facts and circumstances have been remedied and shall communicate such determination in writing to the Company. If Executive determines that adequate remedy has not occurred, then the initial Notice of Termination shall remain in effect.. (iii)

Appears in 1 contract

Samples: Termination Agreement (Texas Biotechnology Corp /De/)

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