Demotion to avoid layoff definition

Demotion to avoid layoff means a demotion accepted by an Employee to avoid being laid off.

Related to Demotion to avoid layoff

  • Demotion means a change from an employee's position to one with a lower maximum salary;

  • Substantial emotional distress means significant mental suffering or anguish that may, but does not necessarily, require medical or other professional treatment or counseling.

  • Relevant Potential Change of Control Announcement means any public announcement or statement by the Issuer, any actual or potential bidder or any adviser acting on behalf of any actual or potential bidder relating to any potential Change of Control where within 180 days following the date of such announcement or statement, a Change of Control occurs.