Constructive Termination Without Cause

Constructive Termination Without Cause. In the event that this Agreement is not renewed because the Company has given the 150-day notice prescribed in the preceding paragraph on or before the expiration of the Original Term of Employment or any Renewal Term and, in either case, should such notice result in the expiration of the Term of Employment prior to Executive's 60th birthday, such non-renewal shall be treated as a "Constructive Termination Without Cause" pursuant to Section 10(c).

Constructive Termination Without Cause. A termination of the Executive's employment at Executive's initiative following the occurrence, without the Executive's written consent, of one or more of the following events (except as a result of a prior termination): i. an assignment of any duties to Executive that is inconsistent with Executive's status as a member of the senior management of CVS Caremark; ii. a decrease in Executive's annual base salary or target annual incentive award opportunity; iii. any failure to secure the agreement... of any successor to CVS Caremark to fully assume the Company's obligations under this Agreement; or iv. a relocation of Executive's principal place of employment more than 35 miles from Executive's place of employment before such relocation. View More