Examples of Constructive Termination of Employment in a sentence
If, upon a Change in Control, or up to twelve (12) months following a Change in Control, the Executive experiences an Involuntarily Termination of Employment or Constructive Termination of Employment, the Company shall pay to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under the Plan (except as provided in Section 2.5).
In addition to any benefits payable under Section 2.4 or Section 2.5, upon a Change in Control, the Company shall pay to the Executive the benefit described in this Section 2.8, regardless of whether the Executive experiences an Involuntary Termination of Employment or a Constructive Termination of Employment within twelve (12) months following the Change in Control.
If, upon a Change in Control, or up to twelve (12) months following a Change in Control, the Executive experiences an Involuntarily Termination of Employment or Constructive Termination of Employment, the Company shall pay to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under the Plan (except as provided in Section 2.5 or 2.8).
Upon a Change of Control followed by the Executive’s Involuntary Termination of Employment or Constructive Termination of Employment, the Company shall pay to the Executive the benefit described in this Section 2.5 in lieu of any other benefit under this Article.
Notwithstanding any other term or provision of this Plan, upon the occurrence of a Change in Control of the Company followed or accompanied within two years thereafter by a Constructive Termination of Employment of a person who holds an Option, that portion of each such Option that is not then exercisable shall become exercisable.
Upon a Change in Control, or up to 12 months following a Change in Control, if the Executive undergoes Involuntarily Termination of Employment or Constructive Termination of Employment, the Company shall pay to the Executive the benefit described in this Section 2.4 in lieu of other benefit under this Agreement.
Effective June 1, 2007, if a Change in Control occurs during 2007 but an Executive has not, as of December 31, 2007, received the payment described in 2.4.1(ii) due to the fact that the Executive has not experienced an Involuntary Termination of Employment or a Constructive Termination of Employment, the Executive shall be paid the payment described in Section 2.4.1(ii) as soon as practicable after December 31, 2007 but no later than January 31, 2008.
The term "Constructive Termination of Employment" means termination of Employment by Executive because the working conditions are so intolerable or aggravated that a reasonable person in the Executive's position would be compelled to resign, provided that the Executive advised the Bank/Employer of the conditions and the Bank/Employer failed to take timely reasonable actions to remedy the conditions.
Furthermore, upon the occurrence of a Triggering Event, if: (x) concurrently with or within the six (6) months following the Triggering Event you experience either an Involuntary Termination of Employment or a Constructive Termination of Employment, and (y) you satisfy the conditions set forth in Section 3.1 of the Alpharma Inc.
All references to "Termination Date" in the Change in Control Plan shall mean the date on which your active employment with the Company or the Acquiring Company (if you become employed by the Acquiring Company upon a Triggering Event) terminates as a result of an Involuntary Termination of Employment or a Constructive Termination of Employment.