Adverse Circumstances

Adverse Circumstances. Shall mean any of the following sets of circumstances surrounding the termination of Executive's employment with SPI after a Change in Control. 2.1.1 SPI's termination of Executive's employment without Breach of Duty, or SPI's notice to Executive of such a termination. 2.1.2 The assignment to Executive of any duties inconsistent with his status as an executive of SPI, the removal of Executive from the position he held before the Change in Control of SPI, or a substantial diminution in the... nature or status of Executive's responsibilities from those in effect immediately before the Change in Control. 2.1.3 A reduction by SPI in Executive's annual base salary as in effect on the date immediately before the Change in Control or as the same may be increased from time to time. 2.1.4 Either the relocation of the executive office of SPI or the relocation of Executive's individual office in Kenner, Louisiana, to a location outside of the New Orleans Standard Metropolitan Statistical Area (SMSA) so as to require Executive to be based anywhere other than in the New Orleans SMSA except for required travel on the business of SPI and its Subsidiaries to an extent substantially consistent with Executive's present business travel obligations. View More