Material Adverse Reason

Example Definitions of "Material Adverse Reason"
Material Adverse Reason. The occurrence of one or more of the following without the Employee's consent: (i) a material diminution of the Employee's authority, duties, responsibilities or compensation; or (ii) a change in the geographic location at which the Employee must perform services (which for purposes of this Agreement means relocation of the offices at which the Employee is principally employed to a location more than 50 miles from the location of such offices immediately prior to the relocation). The Employee... must provide written notice of a potential resignation for Material Adverse Reason to the Company within 30 days after the act or failure constituting Material Adverse Reason. After receiving such notice, the Company shall have a period of 30 days in which it may correct the act or failure that constitutes the grounds for Material Adverse Reason as set forth in the Employee's notice of termination. If the act or failure is substantially corrected during such 30 day period, a Material Adverse Reason no longer exists and the Employee shall withdraw his written notice. If the act or failure is not substantially corrected within such 30 day period, the Employee must resign his employment for Material Adverse Reason within 30 days after the end of the cure period in order for such resignation to be considered for Material Adverse Reason. View More
All Definitions