Termination by Employee for Cause. In the event of a Change of Control (as defined below) of the Company that results in either a substantial reduction or change of title in the Employee’s job duties related to his position as CFO or CEO, ,or a decrease in or a failure to provide the compensation or vested benefits under this Agreement or the Company initiates a substantial reduction or change of title in the Employee’s job duties related to his position as CFO, Employee shall have the right to resign his employment and will be entitled to a lump sum severance payment equal to twelve (12) months of Employee’s then base salary payable within thirty (30) days after the date of termination In addition, Employee will be entitled to payment of all unused vacation days at his current daily rate and a lump sum equal to all deferred salaries and earned bonuses. In addition, all Employee’s then outstanding but unvested stock options shall vest one hundred percent (100%). Employee shall have 12 months from the date written notice is given to Employee about the announcement and closing of a transaction resulting in a Change in Control of the Company that would result in a substantial change in the Employee’s job duties or decrease his compensation or vested benefits under this Agreement to resign or this Section 4(c) shall not apply. In the event Employee resigns from the Company for any other reason, Employee will not be entitled to receive or accrue any further Company benefits or other remuneration under this Agreement, and Employee specifically agrees that he will not be entitled to receive any severance pay. For purposes of this Section 4, a Change in Control shall be deemed to have occurred if any of the following occur:
Termination by Employee for Cause. In the event there occurs a --------------------------------- substantial change in the Employee's job duties, there is a decrease in or a failure to provide the compensation or vested benefits under this Agreement or there is a change in control of the Company, Employee shall have the right to resign his employment and will be entitled to receive a severance payment equal to an award of 250,000 shares of the Company's common stock. For avoidance of doubt, this award shall be in lieu of the 250,000 shares awarded Employee under section 4(b) above. Employee shall have thirty (30) days from the date written notice is given to Employee about either (a) the change in his duties or (b) the announcement and closing of a transaction resulting in a change in control of the Company to resign or this Section 4(c) shall not apply. In the event Employee resigns from the Company for any other reason, Employee will not be entitled to receive or accrue any further Company benefits or other remuneration under this Agreement, and Employee specifically agrees that he will not be entitled to receive any severance pay or any further stock awards. For purposes of this section, a change in control shall be deemed to have occurred if any of the following occur:
Termination by Employee for Cause. Employee may terminate this Agreement only for cause, which shall be limited to any one of the following:
Termination by Employee for Cause. The Employee may elect to terminate this Agreement at any time for cause provided he delivers written notice of such intention to terminate not less than sixty (60) days prior to the date of such termination, which notice shall specify in reasonable detail the circumstances claimed to provide the basis for such termination. As used in this subsection, the term for "cause" shall mean if the Company unreasonably changes Employee's duties, responsibilities, or working conditions or takes any other actions which impede Employee in the performance of his duties hereunder. If the Employee terminates this Agreement for cause, the Company shall, as severance pay, pay the Employee an amount equal to six (6) months of his compensation then in effect.
Termination by Employee for Cause. Employee may, at his option, terminate this Agreement and Employee's employment hereunder, immediately upon giving written notice of termination to Company or under this Agreement. For purposes of this provision, "Cause" for termination by Employee means the occurrence of any of the following if not corrected with Company within 15 days of receipt of Employee's specific written demand for correction:
Termination by Employee for Cause. This Agreement may be terminated by EMPLOYEE in the event of a breach by FMC of any of its obligations under this Agreement, provided EMPLOYEE gives FMC written notice specifying the manner in which he believes FMC has breached this Agreement and FMC has thirty (30) days from receipt of such notice to cure such breach, or in the case of other than a non-payment of money breach, if such breach cannot be cured within thirty (30) days, to commence a good faith effort to cure. Additionally, this Agreement may be terminated by Employee, if there is a reduction in Employee's responsibilities or FMC experiences a change in control defined as any of the following: i) the transfer (whether by sale, dividend, exchange, lease, merger, consolidation or otherwise) of greater that 50 percent (50%) of the voting power of FMC; ii) the transfer (whether by sale, dividend, exchange, lease, merger, consolidation or otherwise) of all or substantially all the assets or stock of FMC; or iii) any other action which results in persons other than the current majority shareholders of FMC, having the voting power to direct the management of FMC or if FMC relocates its corporate headquarters more than fifty (50) miles from its present location in Lexington, Massachusetts.
Termination by Employee for Cause. Employee may terminate this Agreement for “Employee Cause,” by giving at least 10 days’ written notice of such termination. When used herein, the term “Employee Cause” shall mean that the Company has (a) materially breached its obligations hereunder, (b) assigned the Employee without his consent to a position, responsibilities, or duties of a materially lesser status or degree of responsibility than his position, responsibilities, or duties as of the date of this Agreement, except as is permitted pursuant to Section 2 herein; or (c) required that the Employee be based anywhere other than the area set forth in Section 2.2, without the Employee’s consent; and Employee has given the Company written notice of the particulars in which the Company is claimed to have committed any of the foregoing acts, and the Company has failed within thirty days after receipt of such notice to cure.
Termination by Employee for Cause. (a) Notwithstanding any other provision hereof, Employee may terminate his employment with Company under this Agreement at any time for cause and no later than three (3) years after such cause has occurred, upon written notice thereof to the Company specifying the exact cause for Employee's termination.
Termination by Employee for Cause. In the event Employer fails to keep, observe or perform any material covenant, agreement, term or provision of this Agreement to be kept, observed or performed by Employer and such default continues for a period of ninety (90) days after written notice by Employee to Employer, which notice shall include, among other things, a reference to this Paragraph, then Employee, at its sole option, may terminate this Agreement immediately upon the expiration of such ninety (90) day period.
Termination by Employee for Cause. Notwithstanding any other provision hereof, Employee may resign his employment under this Agreement at any time for cause. The termination may be by written notice thereof to Employer, which shall specify the cause
