Constructively Terminated Sample Clauses
The 'Constructively Terminated' clause defines circumstances under which a contract is considered terminated, even if there is no formal written notice of termination. This typically applies when one party's actions—such as ceasing performance, withdrawing resources, or otherwise making it impossible to continue the contract—effectively end the contractual relationship. By recognizing constructive termination, the clause ensures that parties cannot avoid the consequences of termination simply by failing to provide formal notice, thereby protecting the non-breaching party and clarifying when contractual obligations have ended.
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Constructively Terminated. “Constructively Terminated” means your voluntary resignation following (A) a change in your position with the Company (or any Parent or Subsidiary employing you) which materially reduces your duties and responsibilities, (B) a reduction in your level of compensation (including base salary, fringe benefits and target bonus under any corporate performance based bonus or incentive programs) or (C) a relocation of your place of employment by more than fifty (50) miles, provided and only if such change, reduction or relocation is effected by the Corporation without your consent.
Constructively Terminated. “Constructively Terminated” means your voluntary resignation following (A) a change in your position with the Company (or any Parent or Subsidiary employing you) which materially reduces your duties and responsibilities, (B) a reduction in your level of compensation (including base salary, fringe benefits and target bonus under any corporate performance based bonus or incentive programs) or (C) a relocation of your place of employment by more than fifty (50) miles, provided and only if such change, reduction or relocation is effected by the Corporation without your consent. You shall not be deemed to be Constructively Terminated unless you give written notice to the Company that any of the foregoing events has occurred within 90 days of the first occurrence and the Company has had 30 days after such notice to cure such occurrence, if possible.
Constructively Terminated. “Constructively Terminated” means Participant’s voluntary resignation following (A) a change in Participant’s position with the Company (or any Parent or Subsidiary employing Participant) which materially reduces Participant’s duties and responsibilities, (B) a reduction in Participant’s level of compensation (including base salary, fringe benefits and target bonus under any corporate performance based bonus or incentive programs) or (C) a relocation of Participant’s place of employment by more than fifty (50) miles, provided and only if such change, reduction or relocation is effected by the Corporation without Participant’s consent.
Constructively Terminated. “Constructively Terminated” means (i) any significant reduction or diminution (except temporarily during any period of disability) in Participant’s titles or positions or any material diminution in Participant’s authority, duties or responsibilities with the Company which is made without the Participant’s consent; (ii) a material breach of Participant’s employment agreement with the Company, as amended, dated November 1, 2005, which breach, if curable, is not cured within thirty (30) days following written notice of such breach from the Participant; or (iii) the failure to nominate Participant to the Board at any time after Participant’s commencement of employment with the Company or the removal of Participant there from.
Constructively Terminated. “Constructively Terminated” means (i) any significant reduction or diminution (except temporarily during any period of disability) in Optionee’s titles or positions or any material diminution in Optionee’s authority, duties or responsibilities with the Company which is made without the Optionee’s consent; (ii) a material breach of Optionee’s employment agreement with the Company, as amended, dated November 1, 2005, which breach, if curable, is not cured within thirty (30) days following written notice of such breach from the Optionee; or (iii) the failure to nominate Optionee to the Board at any time after the commencement of Optionee’s employment with the Company or the removal of Optionee there from.
Constructively Terminated. “Constructively Terminated” means your voluntary resignation following (A) a change in your position with the Company (or any Parent or Subsidiary employing you) which materially reduces your duties and responsibilities (other than your resignation from the position of Chief Financial Officer, as referenced in the Employment Agreement) and/or the change in your title such that you are no longer the Acting President & Chief Executive Officer or the President & Chief Executive Officer, (B) a reduction in your level of compensation (including base salary, fringe benefits and target bonus under any corporate performance based bonus or incentive programs) or (C) a relocation of your place of employment by more than fifty (50) miles, provided and only if such change, reduction or relocation is effected by the Corporation without your consent. You shall not be deemed to be Constructively Terminated unless you give written notice to the Company that any of the foregoing events has occurred within 90 days of the first occurrence and the Company has had 30 days after such notice to cure such occurrence, if possible.
Constructively Terminated. “Constructively Terminated” means Optionee’s voluntary resignation following (i) a change in Optionee’s position with the Company (or any Parent or Subsidiary employing Optionee) which materially reduces Optionee’s duties and responsibilities, (ii) a reduction in Optionee’s level of compensation (including base salary, fringe benefits and target bonus under any corporate performance based bonus or incentive programs) or (iii) a relocation of Optionee’s place of employment by more than fifty (50) miles, provided and only if such change, reduction or relocation is effected by the Corporation without Optionee’s consent.