Common use of No Reduction in Position Clause in Contracts

No Reduction in Position. During the Employment Period, the Executive's position (including titles), authority and responsibilities with the Company, JHFS and each of the Affiliates shall be, both individually and in the aggregate, at least commensurate with those held, exercised and assigned immediately prior to the Effective Date. It is understood that, for purposes of this Agreement, such position, authority and responsibilities shall not be regarded as not commensurate merely by virtue of the fact that a successor shall have acquired all or substantially all of the business and/or assets of the Company as contemplated by Section 13(b) of this Agreement. The Executive's services shall be performed at the location where the Executive was employed immediately preceding the Effective Date.

No Reduction in Position. During the Employment Period, the Executive's position (including titles), authority and responsibilities with the Company, JHFS and each of the Affiliates shall be, both individually and in the aggregate, at least commensurate with those held, exercised and assigned immediately prior to the Effective Date. It is understood that, for purposes of this Agreement, such position, authority and responsibilities shall not be regarded as not commensurate merely by virtue of the fact that a successor shall have acquired all or substantially all of the business and/or assets of the Company as contemplated by Section 13(b12(b) of this Agreement. The Executive's services shall be performed at the location where the Executive was employed immediately preceding the Effective Date.