CIC Good Reason definition

CIC Good Reason means any of:

CIC Good Reason means the continued failure of the Company to cure within thirty (30) days after written notice describing the nature of such continued failure has been given to the Company by the Officer within ninety (90) days of the occurrence of any of the following: (i) the Company’s failure to perform or observe any of the material terms or provisions of this Agreement; (ii) a material reduction in the scope of the Officer’s responsibilities and duties for the Company or the Subsidiary; (iii) the relocation of Officer’s employment to a facility or a location more than thirty (30) miles from Officer’s then present location and more than thirty (30) miles from the Officer’s then present residence, without the Officer’s consent; or (iv) a material reduction (being defined as more than 20%) in the Officer’s Base Salary including, without limitation, any material reduction that is made pursuant to the last paragraph of Section 5(a).

CIC Good Reason means, without an Executive’s express written consent, the occurrence of any of the following events during the CIC Period, to the extent not cured by the Company within thirty (30) days of Executive’s written notification to the Company that a condition constituting CIC Good Reason exists, which written notification must be provided by the Executive to the Company within thirty (30) days of the initial existence of the condition constituting CIC Good Reason:

Examples of CIC Good Reason in a sentence

• In order to effect a termination for CIC Good Reason, Executive must, within 60 days following the event or circumstance giving rise to Executive’s claim, deliver a written notice to the Company that sets forth the specific event or circumstance giving rise to CIC Good Reason by reference to one or more clauses of the definition of CIC Good Reason set forth in Section 6.09 of this Agreement.

• If, within 30 days following notice from Executive, the Company corrects, in all material respects, the events or circumstances giving rise to Executive’s claim for CIC Good Reason, Executive shall not be entitled to terminate his employment for CIC Good Reason by reason of such event or circumstance.

• Following a Change in Control, the Employee’s employment hereunder may also be terminated by the Company for CIC Cause (as defined in Section 5(f) of this Agreement) or by the Employee for CIC Good Reason (as defined in Section 5(f) of this Agreement).

• Executive may terminate his employment for CIC Good Reason during the Employment Term only within the CIC Protected Period following written notice and an opportunity for the Company to cure; provided, however, that Executive may not give notice of termination for CIC Good Reason during any Period in which Executive is unable to substantially perform his duties with the Company due to physical or mental illness.

• Your Release must be executed and become irrevocable within 60 days of your Separation, provided that, if these payments are to be made due to your resignation for CIC Good Reason, and the Straddle Period spans two calendar years, then these payments under subpart (ii) and, if applicable, subpart (v) will be paid on the first business day in the second calendar year that occurs after the expiration of said 60-day period in which the executed Release is to become irrevocable.

More Definitions of CIC Good Reason

CIC Good Reason means the occurrence, within a CIC Protected Period, of any one or more of the following events or circumstances without Executive’s prior written consent unless one or more of the events or circumstances are corrected, in all material respects, in accordance with Section 1.04(c) of this Agreement:

CIC Good Reason means the occurrence of any of the following events or conditions, without your express written consent (which consent may be denied, withheld or delayed for any reason):

CIC Good Reason means, following a Change in Control, without the Employee’s consent:

CIC Good Reason for termination by the Executive of the Executive’s employment means the occurrence (without the Executive’s express written consent) during any Change in Control Period, of any one of the following acts by the Company, or failures by the Company to act, unless such act or failure to act is corrected prior to the date of termination specified in the notice of termination given in respect thereof:

CIC Good Reason as defined under the provisions of a separately executed Change in Control Agreement.

CIC Good Reason means, without your consent, the occurrence in connection with a Change in Control of the Company of any of the following circumstances unless, in the case of Sections 3.3.1, 3.3.5, 3.3.6, 3.3.7, or 3.3.8, the circumstances are fully corrected prior to the Date of Termination specified in the Notice of Termination, as defined in Sections 3.5 and 3.4, respectively, given in respect of them. If You terminate your employment with the Company for Good Reason, as provided below, your employment with the Company shall be considered to have been involuntarily terminated by the Company:

CIC Good Reason means that (i) Executive resigns because one of the following has occurred within twelve months following a Change in Control: (A) Executive’s Base Salary has been reduced more than fifteen percent (15%); or (B) AOI has failed to perform any material obligation under, or has breached any material provision of, this Agreement; or (C) Executive’s duties and responsibilities have been materially reduced; or (D) Executive’s principal place of work has been moved more than 50 miles from AOI’s corporate office in Morrisville, N.C. and (ii) Executive provides written notice of resignation to AOI within thirty (30) days after such circumstances arise. Resignation from employment by Executive for CIC Good Reason shall be effective only after sixty (60) days written notice to AOI setting forth in reasonable detail the specific conduct of AOI that Executive asserts constitutes CIC Good Reason and the actual Separation from Service must take place no later than ninety-five (95) days after the initial existence of the conduct that Executive asserts constitutes CIC Good Reason. A termination of employment by Executive for CIC Good Reason shall not be effective or deemed to be for CIC Good Reason if AOI substantially corrects the circumstance(s) identified in the written notice within sixty (60) days after receipt of the notice. Executive acknowledges and agrees that Executive will not have CIC Good Reason to terminate Executive’s employment with AOI should Executive be offered substantially similar continued employment with any successor corporation, spin-off company, subsidiary, affiliated company or other entity which agrees to assume AOI’s obligations under this Agreement.