Common use of Termination for Good Reason Clause in Contracts

Termination for Good Reason. The Executive may terminate this Agreement by giving a written notice of termination not less than thirty (30) days prior to the effective date of such termination for "Good Reason." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any of the following transactions:

Appears in 6 contracts

Samples: Employment Agreement (Ohio Legacy Corp), Employment Agreement (Ohio Legacy Corp), Employment Agreement (Ohio Legacy Corp)

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Termination for Good Reason. The At any time during the term of this Agreement, the Executive may terminate this Agreement for Good Reason (as defined below) by giving a written notice the Board of termination not less than Directors of the Company thirty (30) calendar days prior written notice of intent to terminate, which notice sets forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination. Upon the expiration of the thirty (30) day notice period, the Good Reason termination shall become effective, and the Company shall pay and provide to the effective date of such termination for "Good ReasonExecutive the benefits set forth in this Section 6.6." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any of the following transactions:

Appears in 6 contracts

Samples: Employment Agreement (Universal Technology Systems Corp.), Employment Agreement (Universal Technology Systems Corp.), Employment Agreement (Universal Technology Systems Corp.)

Termination for Good Reason. The At any time during the term of this Agreement, the Executive may terminate this Agreement for Good Reason (as defined below) by giving the Company forty-five (45) days written notice, which notice sets forth in detail the facts and circumstances claimed to provide a written notice of termination not less than basis for such termination. However, Company shall, at its option, have thirty (30) days prior to the effective date from receipt of such termination for "written notice to cure any event or circumstance that could constitute Good Reason." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any of the following transactions:

Appears in 4 contracts

Samples: Employment Agreement (Circuit City Stores Inc), Employment Agreement (Circuit City Stores Inc), Employment Agreement (Circuit City Stores Inc)

Termination for Good Reason. The At any time during the term of this Agreement, the Executive may terminate this Agreement for Good Reason (as defined below) by giving the Company forty-five (45) days written notice, which notice sets forth in detail the facts and circumstances claimed to provide a written notice of termination not less than basis for such termination. However, the Company shall, at its option, have thirty (30) days prior to the effective date from receipt of such termination for "written notice to cure any event or circumstance that could constitute Good Reason." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any of the following transactions:

Appears in 4 contracts

Samples: Employment Agreement (Circuit City Stores Inc), Employment Agreement (Circuit City Stores Inc), Employment Agreement (Circuit City Stores Inc)

Termination for Good Reason. The At any time during the term of this Agreement, the Executive may terminate this Agreement for Good Reason (as defined below) by giving a written notice of termination not less than the Board thirty (30) calendar days prior written notice of intent to terminate, which notice sets forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination. Upon the expiration of the thirty (30) day notice period, the Good Reason termination shall become effective, and the Company shall pay and provide to the effective date of such termination for "Good ReasonExecutive the benefits set forth in this Section 6.6." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any of the following transactions:

Appears in 3 contracts

Samples: Employment Agreement (China Hydroelectric Corp), Employment Agreement (China Hydroelectric Corp), Employment Agreement (China Hydroelectric Corp)

Termination for Good Reason. The Executive may terminate this Agreement for Good Reason (as defined below) by giving a written notice the Board of termination not less than Directors thirty (30) days prior written notice of intent to terminate, which notice sets forth the effective date of such termination facts and circumstances for "Good Reason." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") termination. Upon the expiration of this Agreement thirty (30) day period, the termination by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or Executive is effective and the Company effected through any of shall pay the following transactions:Executive the compensation and benefits provided for and payable in accordance with and as set forth in Section 6.4.

Appears in 2 contracts

Samples: Employment Agreement (Ryland Group Inc), Employment Agreement (Ryland Group Inc)

Termination for Good Reason. The At any time during the term of this Agreement, the Executive may terminate this Agreement for Good Reason (as defined below) by giving a written notice the Chief Executive Officer of termination not less than the Company thirty (30) days prior calendar days' written notice of intent to terminate, which notice sets forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination. The Effective Date of Termination shall occur upon the expiration of the thirty (30) day notice period, and the Company shall pay and provide to the effective date of such termination for "Good ReasonExecutive the benefits set forth in this Section 6.6." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any of the following transactions:

Appears in 2 contracts

Samples: Employment Agreement (Circuit City Stores Inc), Employment Agreement (Circuit City Stores Inc)

Termination for Good Reason. The At any time during the term of this Agreement, the Executive may terminate this Agreement for Good Reason (as defined below) by giving a written notice the CEO of termination not less than the Company thirty (30) days prior calendar days' written notice of intent to terminate, which notice sets forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination. The Effective Date of Termination shall occur upon the expiration of the thirty (30) day notice period, and the Company shall pay and provide to the effective date of such termination for "Good ReasonExecutive the benefits set forth in this Section 6.6." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any of the following transactions:

Appears in 2 contracts

Samples: Employment Agreement (Circuit City Stores Inc), Employment Agreement (Circuit City Stores Inc)

Termination for Good Reason. The Executive may terminate this Agreement for Good Reason (as defined below) by giving a written notice the Board of termination not less than Directors thirty (30) days prior written notice of intent to terminate, which notice sets forth the effective date of such termination facts and circumstances for "Good Reason." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") termination. Upon the expiration of this Agreement thirty (30) day period, the termination by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or Executive is effective and the Company effected through any shall pay the Executive the benefits set forth in Section 6.4 unless the provisions of the following transactions:Section 7 apply.

Appears in 2 contracts

Samples: Employment Agreement (Ryland Group Inc), Employment Agreement (Ryland Group Inc)

Termination for Good Reason. The Executive may terminate this Agreement by giving a written notice of termination not less than thirty (30) days prior to the effective date of such termination for "Good Reason." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership of control or control of either Bancorp or the Company effected through any of the following transactions:material breaches hereinafter defined.”

Appears in 1 contract

Samples: Employment Agreement (Ohio Legacy Corp)

Termination for Good Reason. The At any time during the term of this Agreement, the Executive may terminate this Agreement for Good Reason (as hereinafter defined) by giving a written notice of termination not less than thirty the Company forty-five (3045) days prior written notice, which notice sets forth in detail the facts and circumstances claimed to the effective date of such termination for "Good Reason." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any of the following transactions:provide

Appears in 1 contract

Samples: Employment Agreement (Carmax Inc)

Termination for Good Reason. The Executive may terminate this Agreement by giving a written notice of termination not less than thirty (30) days prior to the effective date of such termination for "Good Reason." As used herein, "Good Reason" means means: (i) a diminution Diminution in the Executive's duties Duties or Benefits as defined below; (ii) material breach ("Material Breach") of this Agreement by the Company or Bancorp, or (iii) "Change in Control" as defined below." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any of the following transactions:

Appears in 1 contract

Samples: Employment Agreement (Ohio Legacy Corp)

Termination for Good Reason. The Executive may terminate this Agreement for Good Reason (as defined below) by giving a written notice the Board of termination not less than Directors thirty (30) days prior written notice of intent to terminate, which notice sets forth the effective date of such termination facts and circumstances for "Good Reason." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") termination. Upon the expiration of this Agreement thirty (30) day period, the termination by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or Executive is effective and the Company effected through any shall pay the Executive the compensation and benefits provided for and payable in accordance with and as set forth in Section 5.4 unless the provisions of the following transactions:Section 6 apply.

Appears in 1 contract

Samples: Employment Agreement (Ryland Group Inc)

Termination for Good Reason. The Executive may terminate this Agreement by giving a written notice of termination not less than thirty (30) days prior to the effective date of such termination for "Good Reason." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership of control or control of either Bancorp or the Company effected through any of the following transactions:material breahes herinafter defined.

Appears in 1 contract

Samples: Employment Agreement (Ohio Legacy Corp)

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Termination for Good Reason. The At any time during the term of this Agreement, the Executive may terminate this Agreement for Good Reason (as defined below) by giving a written notice the Board of termination not less than Directors of the Company thirty (30) calendar days prior written notice of intent to terminate, which notice sets forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination. Upon the expiration of the thirty (30) day notice period, the Good Reason termination shall become effective, and the Company shall pay and provide to the effective date of such termination for "Good ReasonExecutive the benefits set forth in this Section 6.1.2(b)." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any of the following transactions:

Appears in 1 contract

Samples: Employment Agreement (NanoFlex Power Corp)

Termination for Good Reason. The Executive may terminate this Agreement by giving a written notice of termination not less than thirty (30) days prior to the effective date of such termination for "Good Reason." As used herein, "Good Reason" means a diminution in the Executive's duties change of control or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any of the following transactions:as hereinafter defined

Appears in 1 contract

Samples: Employment Agreement (Ohio Legacy Corp)

Termination for Good Reason. The Executive may terminate this Agreement by giving a written notice of termination not less than thirty (30) days prior to the effective date of such termination for "Good Reason." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership of control or control of either Bancorp or the Company effected through any of the following transactions:material breaches hereinafter defined.

Appears in 1 contract

Samples: Employment Agreement (Ohio Legacy Corp)

Termination for Good Reason. The (a) At any time during the term of this Agreement, the Executive may terminate this Agreement for Good Reason by giving a the Board ninety (90) calendar days written notice of termination not less than thirty intent to terminate, which notice sets forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination. The Executive’s ability to terminate for Good Reason is contingent upon his agreement to allow the Company to remedy, within such ninety (30) days prior to 90)-day period, the effective date of such termination for "events constituting Good Reason." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any of the following transactions:

Appears in 1 contract

Samples: Employment Agreement (United Security Bancshares Inc)

Termination for Good Reason. The At any time during the term of this Agreement, the Executive may terminate this Agreement for Good Reason (as defined below) by giving a written notice the Board of termination not less than Directors of the Company thirty (30) days prior calendar days' written notice of intent to terminate, which notice sets forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination. The Effective Date of Termination shall occur upon the expiration of the thirty (30) day notice period, and the Company shall pay and provide to the effective date of such termination for "Good ReasonExecutive the benefits set forth in this Section 6.6." As used herein, "Good Reason" means a diminution in the Executive's duties or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any of the following transactions:

Appears in 1 contract

Samples: Employment Agreement (Circuit City Stores Inc)

Termination for Good Reason. The At any time during the term of this Agreement, the Executive may terminate this Agreement for Good Reason (as defined below) by giving a written notice the Board of termination not less than Directors of the Company thirty (30) calendar days prior written notice of intent to terminate, which notice sets forth in reasonable detail the effective date facts and circumstances claimed to provide a basis for such termination. Upon the expiration of such the thirty (30) day notice period, the Good Reason termination shall become effective. A termination for "Good Reason." As used herein, "Good Reason" means Reason shall have the same effect as a diminution in the Executive's duties or material breach ("Material Breach") of this Agreement termination by the Company or Bancorp, or "Change in Controlwithout Cause." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any of the following transactions:

Appears in 1 contract

Samples: Employment Agreement (FORU Holdings, Inc.)

Termination for Good Reason. The At any time during the term of this Agreement, the Executive may terminate this Agreement for Good Reason (as defined below) by giving a written notice of termination not less than the Company thirty (30) calendar days prior written notice of intent to terminate, which notice sets forth in reasonable detail the effective date facts and circumstances claimed to provide a basis for such termination. Upon the expiration of such the thirty (30) day notice period, the Good Reason termination for "Good Reason." As used hereinshall become effective, and the Company shall pay and provide to Employee the benefits set forth in this Section 4.2. "Good Reason" means a diminution in shall mean, without the Executive's duties express written consent, the occurrence of any one or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any more of the following transactionsfollowing:

Appears in 1 contract

Samples: Employment Agreement (Ilex Oncology Inc)

Termination for Good Reason. The Executive may terminate this Agreement by giving a written notice of termination not less than thirty (30) days prior to the effective date of such termination for "Good Reason." As used herein, "Good Reason" means a diminution in the Executive's ’s duties or material breach ("Material Breach") of this Agreement by the Company or Bancorp, or "Change in Control." The term "Change of Control" means a change in ownership or control of either Bancorp or the Company effected through any of the following transactions:

Appears in 1 contract

Samples: Employment Agreement (Ohio Legacy Corp)

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