GXDX » Topics » Voluntary Termination by Executive.

This excerpt taken from the GXDX 10-Q filed Dec 12, 2007.
Voluntary Termination by Executive.  Executive may terminate his employment hereunder at any time, whether with or without cause, effective sixty (60) days after delivery of written notice of such termination to the Company, except for Executive’s Emergency Need.  “Emergency Need”, as used in this Section, is defined to be the advent of illness or related health issues in Executive or his immediate family which a medical doctor would conclude poses a mortal health risk to that person.  The Company shall have the option, in its sole discretion, to specify an earlier termination date than that provided by Executive in the written notice.  Upon voluntary termination pursuant to this Section, the Company shall have no further obligations to Executive other than to pay all compensation and expense reimbursements owing for services rendered and reasonable business expenses incurred by Executive prior to effective date of termination as determined by the Company.

 

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