Change in Employment Terms definition

Change in Employment Terms means (i) the assignment to Employee of duties that are materially inconsistent with the Employees's position or with his authority, duties or responsibilities as of the date hereof, or any other action by the Company which results in a material diminution or material adverse change in such position, authority, duties or responsibilities; (ii) any reduction of Employee's base salary; (iii) any reduction of Employee's target bonus under the Annual Bonus Plan; (iv) any relocation of employee's principal workplace to a location more than 30 miles from the current site of such workplace (it being recognized that Employee currently divides his time between his workplace in Florida and his workplace in Minnesota, and it is the intent of the parties to continue that arrangement); (v) any substantial reduction in the benefits and perquisites provided, in the aggregate, to Employee; and (vi) failure by the Company to carry out its obligation under Section 18; provided, however, that none of the foregoing shall constitute a Change in Employment Terms unless Employee objects thereto by giving notice to the Company within 30 days after Employee becomes aware of such change and the Company fails to correct the same within 30 days following receipt of such notice, in which case a Change in Employment Terms shall be deemed to have occurred on the 31st day following the Company's receipt of such notice.
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Change in Employment Terms means the occurrence, within the term of this Agreement, of any of the following without the Executive’s prior written consent:
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Change in Employment Terms means (i) demotion of Executive or any material reduction in his authority or assignment to him of material duties that are substantially inconsistent with his position and title immediately prior to such assignment; (ii) any reduction of Executive's base salary; (iii) any reduction of the target amount for Executive's position under the management incentive plan; (iv) any requirement that Executive relocate; (v) any substantial reduction in the benefits and perquisites provided to Executive; and (vi) any other material adverse change in the terms and conditions of Executive's employment (but no amendment to this Agreement in accordance with its terms shall be deemed a Change in Employment Terms); provided, however, that none of the foregoing shall constitute a Change in Employment Terms unless Executive objects thereto by giving notice to the Board within 30 days after Executive becomes aware of such assignment, reduction, requirement or other change and the Company fails to correct the same within 30 days following receipt of such notice, in which case a Change in Employment Terms will be deemed to have occurred on the 31st day following the Board's receipt of such notice.
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Examples of Change in Employment Terms in a sentence

  • Involuntary Termination" shall mean (i) any termination by the Company that is not for Cause and (ii) any resignation by Employee if such resignation occurs within 60 days following the occurrence of any Change in Employment Terms (as hereinafter defined).

  • File Item 5.02 8-K for Salary Cut & Change in Employment Terms 6-258 iv.

  • However, for sake of clarity, the Company and CGG acknowledge and agree that changes in the Executive’s position, duties, functions responsibilities or authorities and the other terms and conditions of Executive’s employment that occur after the Effective Date may constitute Good Reason within the meaning of the 2006 LTIP Restricted Stock Award or a Change in Employment Terms for purposes of this Agreement.

  • All payments required to be made under awards granted under the Plan shall be made by the Company out of its general assets.

Related to Change in Employment Terms

  • Employment Termination means the effective date of: (i) Executive’s voluntary termination of employment with the Company with Good Reason, or (ii) the termination of Executive’s employment by the Company without Good Cause.

  • Involuntary Termination of Employment means the Termination of Service by the Company or Subsidiary (other than a termination for Cause) or termination of employment by a Participant Employee for Good Reason.

  • Termination of Employment means that the Executive ceases to be employed by the Company for any reason, voluntary or involuntary, other than by reason of a leave of absence approved by the Company.

  • Employment Termination Date means, with respect to a Participant, the first day upon which the Participant no longer has an employment or service relationship with the Company or any Related Company.

  • Change in Control Termination means an “Involuntary Termination Without Cause” or “Resignation for Good Reason,” either of which occurs on, or within three (3) months prior to, or within twelve (12) months following, the effective date of a Change in Control, provided that any such termination is a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h). Death and disability shall not be deemed Change in Control Terminations.

  • Good Reason Termination means a termination of employment or service initiated by the Participant upon or after a Change of Control upon one or more of the following events:

  • Nonqualifying Termination means a termination of the Executive’s employment (1) by the Company for Cause, (2) by the Executive for any reason other than a Good Reason, (3) as a result of the Executive’s death or (4) by the Company due to the Executive’s absence from his duties with the Company on a full-time basis for at least 180 consecutive days as a result of the Executive’s incapacity due to physical or mental illness.

  • Change in Control Period means the period beginning three (3) months prior to a Change in Control and ending twelve (12) months following a Change in Control.

  • Termination After Change in Control means either of the following events occurring within twelve (12) months after a Change in Control:

  • A "CHANGE IN CONTROL means an Ownership Change Event or a series of related Ownership Change Events (collectively, the "TRANSACTION") wherein the stockholders of the Company immediately before the Transaction do not retain immediately after the Transaction, in substantially the same proportions as their ownership of shares of the Company's voting stock immediately before the Transaction, direct or indirect beneficial ownership of more than fifty percent (50%) of the total combined voting power of the outstanding voting stock of the Company or the corporation or corporations to which the assets of the Company were transferred (the "TRANSFEREE CORPORATION(S)"), as the case may be. For purposes of the preceding sentence, indirect beneficial ownership shall include, without limitation, an interest resulting from ownership of the voting stock of one or more corporations which, as a result of the Transaction, own the Company or the Transferee Corporation(s), as the case may be, either directly or through one or more subsidiary corporations. The Board shall have the right to determine whether multiple sales or exchanges of the voting stock of the Company or multiple Ownership Change Events are related, and its determination shall be final, binding and conclusive.

  • Change in Control Date means the date on which a Change in Control occurs.

  • Change in Control means the occurrence of any of the following events:

  • Involuntary Termination means a termination of your employment with the Company pursuant to either (i) a termination initiated by the Company without Cause, or (ii) your resignation for Good Reason, and provided in either case such termination constitutes a Separation from Service. An Involuntary Termination does not include any other termination of your employment, including a termination due to your death or disability.

  • 409A Change in Control means a “Change in Control” which also constitutes a change in ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company, all within the meaning of § 409A of the Internal Revenue Code of 1986, as amended (the “Code”).

  • Change of Control Termination means (i) a Termination Without Cause of the Employee’s employment by the Employer (other than for death or disability) within twelve (12) months after a Change of Control or (ii) the Employee’s resignation for Good Reason within twelve (12) months after a Change of Control.

  • Gainful employment means paid employment for not less than 30 hours in each week for a period of not less than 12 months;

  • Constructive Termination means:

  • Constructive Termination Without Cause means the termination of the Executive’s employment at his initiative after, without the Executive’s prior written consent, one or more of the following events:

  • Involuntary Termination Without Cause means Executive’s dismissal or discharge other than for Cause. The termination of Executive’s employment as a result of Executive’s death or disability will not be deemed to be an Involuntary Termination Without Cause.

  • Active Employment means you must be actively at work for the Sponsor:

  • Termination of Consultancy means: (a) that the Consultant is no longer acting as a consultant to the Company or an Affiliate; or (b) when an entity which is retaining a Participant as a Consultant ceases to be an Affiliate unless the Participant otherwise is, or thereupon becomes, a Consultant to the Company or another Affiliate at the time the entity ceases to be an Affiliate. In the event that a Consultant becomes an Eligible Employee or a Non-Employee Director upon the termination of such Consultant’s consultancy, unless otherwise determined by the Committee, in its sole discretion, no Termination of Consultancy shall be deemed to occur until such time as such Consultant is no longer a Consultant, an Eligible Employee or a Non-Employee Director. Notwithstanding the foregoing, the Committee may otherwise define Termination of Consultancy in the Award Agreement or, if no rights of a Participant are reduced, may otherwise define Termination of Consultancy thereafter, provided that any such change to the definition of the term “Termination of Consultancy” does not subject the applicable Award to Section 409A of the Code.

  • Section 409A Change in Control means a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the Company’s assets, as provided in Section 409A(a)(2)(A)(v) of the Code and Treasury Regulations Section 1.409A-3(i)(5) (without regard to any alternative definition thereunder).

  • Share Termination Settled” in relation to the Transaction means that Share Termination Alternative is applicable to the Transaction.