Common use of Constructive Termination Without Cause Clause in Contracts

Constructive Termination Without Cause. (a) Constructive Termination Without Cause shall mean a termination of the Executive's employment at his initiative following the occurrence, without the Executive's written consent, of one or more of the following events: i) a reduction in Executive's then current Base Salary; ii) a material diminution in Executive's duties, title, responsibilities, authority as President and Chief Operating Officer or the assignment to Executive of duties which are materially inconsistent with his duties or which materially impair the Executive's ability to function in his then current position; and iii) a requirement by the Company that Executive move his residence from San Diego, California, or from any other area to which he may have voluntarily moved with the Company's prior written consent. (b) In the event of a Constructive Termination Without Cause, Executive shall be entitled to receive the Severance Package.

Constructive Termination Without Cause. (a) Constructive Termination Without Cause shall mean a termination of the Executive's employment at his initiative following the occurrence, without the Executive's written consent, of one or more of the following events: i) a reduction in Executive's then current Base Salary; ii) a material diminution in Executive's duties, title, responsibilities, authority as President Chairman and Chief Operating Executive Officer or the assignment to Executive of duties which are materially inconsistent with his duties or which materially impair the Executive's ability to function in his then current position; and iii) a requirement by the Company that Executive move his residence from San DiegoLos Angeles, California, or from any other area to which he may have voluntarily moved with the Company's prior written consent. (b) In the event of a Constructive Termination Without Cause, Executive shall be entitled to receive the Severance Package.