Reduction in Duties/Compensation Sample Clauses
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Reduction in Duties/Compensation. The Corporation will not significantly reduce the scope of the Executive’s duties under the Agreement, materially diminish the Executive’s title (other than as specifically provided in this Agreement), significantly reduce the total potential compensation under the Agreement, including, without limitation, fringe benefits and payments at death, or require the Executive to reside in a specific location within the United States (each such event a “Reduction Event”). The Executive at any time during the six month period following a Reduction Event may voluntarily terminate his employment and receive the payments and benefits described in paragraph (c) below.
Reduction in Duties/Compensation. The Corporation will not (i) materially reduce the Executive’s authority, duties, or responsibilities under the Agreement, (which would include, but not be limited to, requiring the Executive to report to a corporate officer instead of directly to the Board of the Corporation), or (ii) materially reduce the Executive’s base salary (each such event a “Reduction Event”). In addition, (i) a material change in the geographic location of the headquarters of the Company at which the Executive must perform his duties, or (ii) the Company’s material breach of the terms of this Agreement will constitute a Reduction Event. The Executive at any time during the 90-day period following a Reduction Event may provide notice to the Company of the occurrence of a Reduction Event and, if Company does not remedy the Reduction Event within 30-days of the notice, the Executive may voluntarily terminate his employment and receive the payments and benefits described in paragraph (c) below.
Reduction in Duties/Compensation. The Corporation will not significantly reduce the scope of the Executive’s duties under the Agreement, materially diminish the Executive’s title (which would include, but not be limited to, the Board of the Corporation failing to elect the Executive as the President and CEO of the Corporation), or significantly reduce the total potential compensation under the Agreement, including, without limitation, benefits and payments at death (each such event a “Reduction Event”). The parties agree that a Reduction Event shall not include a reduction or termination of benefits (including perquisites) which applies to all executives of the Corporation who participate in such plan or to any reduction or termination to which the Executive agrees, or a relocation of the Executive in connection with the relocation of the headquarters of the Corporation. The Executive at any time during the six month period following a Reduction Event may voluntarily terminate his employment and receive the payments and benefits described in paragraph (c) below.
Reduction in Duties/Compensation. The Corporation will not significantly reduce the scope of the Executive's duties under the Agreement, materially diminish the Executive's title (which would include, but not be limited to, the Board of the Corporation failing to elect the Executive as the President and CEO of the Corporation), significantly reduce the total potential compensation under the Agreement, including, without limitation, fringe benefits and payments at death, or require the Executive to relocate to a location where the Corporation currently does not have, or is not currently discussing or contemplating building or placing a facility (each such event a "Reduction Event"). The parties agree that a Reduction Event shall not include a reduction or termination of benefits (including perquisites) which applies to all executives of the Corporation who participate in such plan or to any reduction or termination to which the Executive agrees. The Executive at any time during the six month period following a Reduction Event may voluntarily terminate his employment and receive the payments and benefits described in paragraph (c) below.