Termination with Good Reason

Termination with Good Reason. Termination by Executive of his or her employment with the Company by written notice to the Company stating that the Company has committed a material breach of this Agreement or has failed to maintain a Directors' and Officers' Insurance Policy of at least $1,000,000 covering Executive (and providing details of such breach or failure sufficient to permit the Company to determine the nature thereof) and that Executive's employment is terminated effective thirty (30) days ... following receipt by the Company of Executive's notice unless such breach has been cured prior to the end of such thirty (30) day period. View More

Termination with Good Reason. Means, unless and to the extent otherwise waived in writing by the Executive, the termination of the Executive's employment with the Company which is initiated by the Executive and that occurs within 90 days of any of the following events (excluding for this purpose, isolated, insubstantial and inadvertent actions not in bad faith and which are remedied by the Company within 15 days after receipt of notice thereof given by the Executive): (i) a decrease in the Executive's aggregate Base Salary... and incentive bonus opportunity or a significant reduction in the amount of additional benefits or perquisites provided to the Executive as of the Effective Date; (ii) any action by the Company which decreases the Executive's authority, duties or responsibilities of the Executive as of the Effective Date. (iii) the assignment of duties to the Executive that are inconsistent with the duties and responsibilities of the Executive as of the Effective Date. 2 View More

Termination with Good Reason. Shall have the same meaning as set forth in that certain Letter Agreement between Grantee and Company dated April 19, 2002.