Examples of Diminution of Responsibilities in a sentence
You voluntarily terminate your employment during the 30-day period commencing on the six-month anniversary of such Change-in-Control due to a Material Diminution of Responsibilities (as defined in Section 13(d) and subject to the notice and cure provisions described therein) that occurred on or after such Change-in-Control.
Before “Material Diminution of Responsibilities” has been deemed to have occurred, you must give the Company written notice detailing why you believe a Material Diminution of Responsibilities event has occurred and such notice must be provided to the Company within thirty days of your actual knowledge of the initial occurrence of such alleged Material Diminution of Responsibilities event.
A Material Diminution of Responsibilities shall not be deemed to have occurred solely by reason of the Company’s sale of one or more of its businesses or by an action taken in good faith to comply with applicable law, generally accepted accounting principles, regulatory guidance, or other similar guidance.
In the event of the CFO’s termination by the Company for Cause or resignation by the CFO without Diminution of Responsibilities, the CFO shall only be entitled to receive all salary and accrued vacation (less applicable holding) earned through the CFO’s date of termination or resignation, as applicable, and the benefits, if any, under Company benefit plans to which the CFO may be entitled pursuant to the terms of such plans.
In the event of Executive's Termination for Cause or Resignation without a Diminution of Responsibilities, Executive shall only be entitled to receive all salary and accrued vacation (less applicable withholding) earned through Executive's termination or resignation date, as applicable, and the benefits, if any, under Company benefit plans to which Executive may be entitled pursuant to the terms of such plans.