Constructive Termination Definition Example with 5 Variations

Constructive Termination. By by the Executive shall mean termination, during the Term of Employment, based on the occurrence without the Executive's express written consent of any of the following: (i) a material diminution or adverse change in the Executive's responsibilities, duties, authorities or any reduction in title, other than for Cause or Disability; (ii) a reduction in the Executive's Base Salary or Target Bonus (as defined in Section 6) 7) other than for Cause or Disability and other than as part of an... across-the-board salary reduction generally imposed on senior executives of the Company; or (iii) the failure of the Company to obtain the assumption in writing of its obligation to perform this Agreement by any successor to all or substantially all of the assets of the Company on or prior to a merger, consolidation, sale or similar transaction. transaction; or (iv) if the Executive no longer reports to the CEO or to the COO or other direct report of the CEO. The Executive shall further be required to comply with the provisions of Section 10(d)(i) 11(d)(i) of this Agreement with respect to a Constructive Termination. View More

Constructive Termination. By by the Executive shall mean termination, during the Term of Employment, based on the occurrence without the Executive's express written consent of any of the following: (i) a material diminution or adverse change in the Executive's responsibilities, duties, authorities or any reduction in title, title or change in reporting relationship such that Executive reports to anyone other than the Chief Executive Officer, other than for Cause or Disability; (ii) a reduction in the Executive's Base... Salary or Target Bonus (as defined in Section 6) other than for Cause or Disability and other than as part of an across-the-board salary reduction generally imposed on executives of the Company; or (iii) the failure of the Company to obtain the assumption in writing of its obligation to perform this Agreement by any successor to all or substantially all of the assets of the Company on or prior to a merger, consolidation, sale or similar transaction. transaction; or (iv) the relocation of the current headquarters of the Company that would require the relocation of the Executive during the first two years of his employment. The Executive shall further be required to comply with the provisions of Section 10(d)(i) of this Agreement with respect to a Constructive Termination. View More

Constructive Termination. By by the Executive shall mean termination, during the Term of Employment, based on the occurrence without the Executive's express written consent of any of the following: (i) a material diminution or adverse change in the Executive's responsibilities, duties, authorities or any reduction in title, other than for Cause or Disability; (ii) a reduction in the Executive's Base Salary or Target Bonus (as defined in Section 6) other than for Cause or Disability and other than as part of an... across-the-board salary reduction generally imposed on executives of the Company; or (iii) the failure of the Company to obtain the assumption in writing of its obligation to perform this Agreement by any successor to all or substantially all of the assets of the Company on or prior to a merger, consolidation, sale or similar transaction. transaction; or (iv) the relocation of the current headquarters of the Company that would require the relocation of the Executive during the first two years of her employment. The Executive shall further be required to comply with the provisions of Section 10(d)(i) of this Agreement with respect to a Constructive Termination. View More

Constructive Termination. By by the Executive shall mean termination, during the Term of Employment, termination based on the occurrence without the Executive's express written consent of any of the following: (i) a material diminution or adverse change in the Executive's responsibilities, duties, authorities or any reduction in title, other than for Cause or Disability; (ii) a reduction in the Executive's Base Salary or Target Bonus (as defined in Section 6) other than for Cause or Disability and other than 1 as part... of an across-the-board salary reduction generally imposed on executives of the Company; (iii) the relocation of the Company's principal office to a location more than 35 miles from Troy, Michigan; or (iii) (iv) the failure of the Company to obtain the assumption in writing of its obligation to perform this Agreement by any successor to all or substantially all of the assets of the Company on or prior to a merger, consolidation, sale or similar transaction. The Executive shall further be required to comply with the provisions of Section 10(d)(i) 11(d)(i) of this Agreement with respect to a Constructive Termination. View More

Constructive Termination. By by the Executive shall mean termination, during the Term of Employment, termination based on the occurrence without the Executive's express written consent of any of the following: (i) a material diminution or adverse change in the Executive's responsibilities, duties, authorities or any reduction in title, other than for Cause or Disability; (ii) a reduction in the Executive's Base Salary or Target Bonus (as defined in Section 6) 5) other than for Cause or Disability and other than as part... of an across-the-board salary reduction generally imposed on executives of the Company; (iii) the relocation of the Company's principal office to a location more than 35 miles from Troy, Michigan; or (iii) (iv) the failure of the Company to obtain the assumption in writing of its obligation to perform this Agreement by any successor to all or substantially all of the assets of the Company on or prior to a merger, consolidation, sale or similar transaction. The Executive shall further be required to comply with the provisions of Section 10(d)(i) 9(d)(i) of this Agreement with respect to a Constructive Termination. View More