CONSTRUCTIVE REASON. Constructive Reason means the occurrence of any one or more of the following without the Employees prior written consent: (i) A material adverse change in the Employees position that causes it to be of less stature or of less responsibility; provided, however, that if after a Change of Control the Employee is still the most senior operations and/or finance executive of the Company and the Company continues to operate as an independent subsidiary or independent controlled affiliate, then no... Constructive Reason shall have occurred; (ii) A change in the position to whom the Employee reports; provided, however, that if after a Change of Control the Employee reports to the Companys Chief Executive Officer and the Company continues to operate as an independent subsidiary or independent controlled affiliate, then no Constructive Reason shall have occurred; (iii) An involuntary reduction of more than fifteen percent (15%) of the Employees Base Compensation; or (iv) Relocating the Employee to a facility or location more than thirty (30) miles from his then current location. This provision applies only if the Employee elects to terminate his employment within thirty (30) days after the occurrence of a Constructive Reason.View More
CONSTRUCTIVE REASON. Constructive Reason means the occurrence of any one or more of the following without the Employees prior written consent: (i) A material adverse change in the Employees Employee's position that causes it to be of materially less stature or of materially less responsibility; provided, however, that if after a Change of Control the Employee is still the most senior operations and/or finance executive of the Company and the Company continues to operate as an independent subsidiary or... independent controlled affiliate, then no Constructive Reason shall have occurred; (ii) A change in the position to whom the Employee reports; provided, however, that if after a Change of Control the Employee reports to the Companys Company's Chief Executive Officer and the Company continues to operate as an independent subsidiary or independent controlled affiliate, then no Constructive Reason shall have occurred; (iii) An involuntary reduction of more than fifteen percent (15%) of the Employees Employee's Base Compensation; Compensation other than a reduction in salary applicable to all senior executives of the Company; or (iv) Relocating the Employee to a facility or location more than thirty (30) miles from his then current location. This provision applies only if the Employee elects to terminate his employment within thirty (30) days after providing notice to the Company of the occurrence of a Constructive Reason. Reason and the Company's failure to cure. View More
CONSTRUCTIVE REASON. Constructive Reason means the occurrence of any one or more of the following without the Employees prior written consent: (i) A material adverse change in the Employees Employee's position that causes it to be of materially less stature or of materially less responsibility; provided, however, that if after a Change of Control the Employee is still the most senior operations and/or finance executive of the Company and the Company continues to operate as an independent subsidiary or... independent controlled affiliate, then no Constructive Reason shall have occurred; (ii) A change in the position to whom the Employee reports; provided, however, that if after a Change of Control the Employee reports to the Companys Company's Chief Executive Officer and the Company continues to operate as an independent subsidiary or independent controlled affiliate, then no Constructive Reason shall have occurred; (iii) An involuntary reduction of more than fifteen percent (15%) of the Employees Employee's Base Compensation; Compensation other than a reduction in salary applicable to all senior executives of the Company; or (iv) Relocating the Employee to a facility or location more than thirty (30) miles from his then current location. This provision applies only if the Employee elects to terminate his employment within thirty (30) days after providing notice to the Company of the occurrence of a Constructive Reason. Reason and the Company's failure to cure. View More
