Common use of Company Breach Clause in Contracts

Company Breach. 1. Upon the occurrence of any breach by the Company of this Agreement within the meaning of subparagraph 2, below, Executive may give the Company written notice of his intention to resign effective the 30th day following the date of such notice. If the Company does not fully remedy such breach within 15 days of the date of such notice, Executive's resignation will become effective on such 30th day. If the Executive resigns in accordance with this paragraph during the Term of Employment, his employment will be deemed to have been terminated by the Company for reasons other than Cause (and he will be deemed to have offered to continue to provide services to the Company), and he will be entitled to all the payments and rights and benefits described in paragraph A of this Article V; provided that such payments and rights and benefits will in no event be less than they would have been had such termination taken place on the date that the Company first breached this Agreement. 2. The following events are breaches by the Company of this Agreement within the meaning of this paragraph B of Article V: (a) any reduction of, or failure to pay, Executive's salary as described in paragraph A of Article IV; (b) any failure to provide the benefits required by paragraph B of Article IV or to make any payment which might be due in accordance with paragraph C of Article IV; (c) assignment to Executive of any duties inconsistent in any respect with his position (including status, offices and titles), authority, duties or responsibilities as contemplated by paragraph A of Article III, and as is further inconsistent with those customary to the industry, or any other action by the Company which results in a diminution of such position, authority, duties or responsibilities as not customary in the industry; (d) failure after a Change of Control to comply with and satisfy Article IX; (e) relocation of the Company's principal executive offices, or any event that causes Executive to have his principal place of work changed, to any location outside the St. Xxxxxx, Michigan area, unless such relocation is mutually agreed upon by Executive and the Company; (f) any requirement by the Company that Executive travel away from his office in the course of his duties significantly more than what is customary to the industry; and (g) without limiting the generality or effect of the foregoing, any other material breach of this Agreement by the Company or any successor thereto or transferee of substantially all the assets thereof.

Company Breach. 1. Upon the occurrence of any breach by the Company of this Agreement within the meaning of subparagraph 2, below, Executive may give the Company written notice of his intention to resign effective the 30th day following the date of such notice. If the Company does not fully remedy such breach within 15 days of the date of such notice, Executive's resignation will become effective on such 30th day. If the Executive resigns in accordance with this paragraph during the Term of Employment, his employment will be deemed to have been terminated by the Company for reasons other than Cause (and he will be deemed to have offered to continue to provide services to the Company), and he will be entitled to all the payments and rights and benefits described in paragraph A of this Article V; provided that such payments and rights and benefits will in no event be less than they would have been had such termination taken place on the date that the Company first breached this Agreement. 2. The following events are breaches by the Company of this Agreement within the meaning of this paragraph B of Article V: (a) any reduction of, or failure to pay, Executive's salary as described in paragraph A of Article IV; (b) any failure to provide the benefits required by paragraph B of Article IV or to make any payment which might be due in accordance with paragraph C of Article IV; (c) assignment to Executive of any duties inconsistent in any respect with his position (including status, offices and titles), authority, duties or responsibilities as contemplated by paragraph A of Article III, and as is further inconsistent with those customary to the industry, or any other action by the Company which results in a diminution of such position, authority, duties or responsibilities as not customary in to the industry; (d) failure after a Change of Control to comply with and satisfy Article IX; (e) relocation of the Company's principal executive offices, or any event that causes Executive to have his principal place of work changed, to any location outside the St. Xxxxxx, Michigan area, unless such relocation is mutually agreed upon by Executive and the Company; (f) any requirement by the Company that Executive travel away from his office in the course of his duties significantly more than what is customary to the industry; and (g) without limiting the generality or effect of the foregoing, any other material breach of this Agreement by the Company or any successor thereto or transferee of substantially all the assets thereof.

Company Breach. 1. Upon the occurrence of any breach by the Company of this Agreement within the meaning of subparagraph 2, below, Executive may give the Company written notice of his intention to resign effective the 30th day following the date of such notice. If the Company does not fully remedy such breach within 15 days of the date of such notice, Executive's resignation will become effective on such 30th day. If the Executive resigns in accordance with this paragraph during the Term of Employment, his employment will be deemed to have been terminated by the Company for reasons other than Cause (and he will be deemed to have offered to continue to provide services to the Company), and he will be entitled to all the payments and rights and benefits described in paragraph A of this Article V; provided that such payments and rights and benefits will in no event be less than they would have been had such termination taken place on the date that the Company first breached this Agreement. 2. The following events are breaches by the Company of this Agreement within the meaning of this paragraph B of Article V: (a) any reduction of, or failure to pay, Executive's salary as described in paragraph A of Article IV; (b) any failure to provide the benefits required by paragraph B of Article IV or to make any payment which might be due in accordance with paragraph C of Article IV; (c) assignment to Executive of any duties inconsistent in any respect with his position (including status, offices and titles), authority, duties or responsibilities as contemplated by paragraph A of Article III, III and as is further inconsistent with those customary to the industry, or any other action by the Company which results in a diminution of such position, authority, duties or responsibilities as not customary in the industry; (d) failure after a Change of Control to comply with and satisfy Article IX; (e) relocation of the Company's principal executive offices, or any event that causes Executive to have his principal place of work changed, to any location outside the St. Xxxxxx, Michigan area, unless such relocation is mutually agreed upon by Executive and the Company; (f) any requirement by the Company that Executive travel away from his office in the course of his duties significantly more than what is customary to the industry; and (g) without limiting the generality or effect of the foregoing, any other material breach of this Agreement by the Company or any successor thereto or transferee of substantially all the assets thereof.