Common use of Constructive Discharge Clause in Contracts

Constructive Discharge. Following a Change of Control, if Executive is Constructively Discharged, he may terminate this Agreement and his employment by delivering written notice to the Bank no later than 30 days before the effective date of termination. "Constructive Discharge" means the occurrence of any one or more of the following, without Executive's prior written consent: (i) Executive is not reelected to or is removed as Senior Vice President and Chief Lending Officer of the Bank; (ii) the Bank fails to vest Executive with or removes from him the duties, responsibilities, authority or resources that he reasonably needs to competently perform his duties as Senior Vice President and Chief Lending Officer of the Bank; (iii) the Bank notifies Executive that it is terminating this Agreement pursuant to Section 3(b); (iv) the Bank changes the primary location of Executive's employment to a place that is more than 50 miles from Madison Heights, Michigan; or (v) the Bank otherwise commits a material breach of its obligations under this Agreement and fails to cure the breach within 30 days after Executive gives the Bank written notice of the breach.

Constructive Discharge. Following a Change of Control, if Executive is Constructively Discharged, he she may terminate this Agreement and his her employment by delivering written notice to the Bank no later than 30 days before the effective date of termination. "Constructive Discharge" means the occurrence of any one or more of the following, without Executive's prior written consent: (i) Executive is not reelected to or is removed as Senior Vice President and Chief Lending Officer Retail/Compliance of the Bank; (ii) the Bank fails to vest Executive with or removes from him her the duties, responsibilities, authority or resources that he she reasonably needs to competently perform his her duties as Senior Vice President and Chief Lending Officer Retail/Compliance of the Bank; (iii) the Bank notifies Executive that it is terminating this Agreement pursuant to Section 3(b); (iv) the Bank changes the primary location of Executive's employment to a place that is more than 50 miles from Madison Heights, Michigan; or (v) the Bank otherwise commits a material breach of its obligations under this Agreement and fails to cure the breach within 30 days after Executive gives the Bank written notice of the breach.

Constructive Discharge. Following a Change of Control, if Executive is Constructively Discharged, he may terminate this Agreement and his employment by delivering written notice to the Bank no later than 30 days before the effective date of termination. "Constructive Discharge" means the occurrence of any one or more of the following, without Executive's prior written consent: (i) Executive is not reelected to or is removed as Senior Vice President and Chief Lending Officer CEO of the Bank; (ii) the Bank fails to vest Executive with or removes from him the duties, responsibilities, authority or resources that he reasonably needs to competently perform his duties as Senior Vice President and Chief Lending Officer CEO of the Bank; (iii) the Bank notifies Executive that it is terminating this Agreement pursuant to Section 3(b); (iv) the Bank changes the primary location of Executive's employment to a place that is more than 50 miles from Madison Heights, Michigan; or (v) the Bank otherwise commits a material breach of its obligations under this Agreement and fails to cure the breach within 30 days after Executive gives the Bank written notice of the breach.

Constructive Discharge. Following a Change of Control, if Executive is Constructively Discharged, he she may terminate this Agreement and his her employment by delivering written notice to the Bank no later than 30 days before the effective date of termination. "Constructive Discharge" means the occurrence of any one or more of the following, without Executive's prior written consent: (i) Executive is not reelected to or is removed as Senior Vice President and Chief Lending Officer Human Resources Director of the Bank; (ii) the Bank fails to vest Executive with or removes from him her the duties, responsibilities, authority or resources that he she reasonably needs to competently perform his her duties as Senior Vice President and Chief Lending Officer Human Resources Director of the Bank; (iii) the Bank notifies Executive that it is terminating this Agreement pursuant to Section 3(b); (iv) the Bank changes the primary location of Executive's employment to a place that is more than 50 miles from Madison Heights, Michigan; or (v) the Bank otherwise commits a material breach of its obligations under this Agreement and fails to cure the breach within 30 days after Executive gives the Bank written notice of the breach.

Constructive Discharge. Following a Change of Control, if Executive is Constructively Discharged, he may terminate this Agreement and his employment by delivering written notice to the Bank no later than 30 days before the effective date of termination. "Constructive Discharge" means the occurrence of any one or more of the following, without Executive's prior written consent: (i) Executive is not reelected to or is removed as Senior Vice President and Chief Lending Officer of the BankCredit Officer; (ii) the Bank fails to vest Executive with or removes from him the duties, responsibilities, authority or resources that he reasonably needs to competently perform his duties as Senior Vice President and Chief Lending Credit Officer of the Bank; (iii) the Bank notifies Executive that it is terminating this Agreement pursuant to Section 3(b); (iv) the Bank changes the primary location of Executive's employment to a place that is more than 50 miles from Madison Heights, Michigan; or (v) the Bank otherwise commits a material breach of its obligations under this Agreement and fails to cure the breach within 30 days after Executive gives the Bank written notice of the breach.

Constructive Discharge. Following a Change of Control, if Executive is Constructively Discharged, he may terminate this Agreement and his employment by delivering written notice to the Bank no later than 30 days before the effective date of termination. "Constructive Discharge" means the occurrence of any one or more of the following, without Executive's prior written consent: (i) Executive is not reelected to or is removed as Senior Vice President and Chief Lending Officer President, Marketing Product Management of the Bank; (ii) the Bank fails to vest Executive with or removes from him the duties, responsibilities, authority or resources that he reasonably needs to competently perform his duties as Senior Vice President and Chief Lending Officer President, Marketing Product Management of the Bank; (iii) the Bank notifies Executive that it is terminating this Agreement pursuant to Section 3(b); (iv) the Bank changes the primary location of Executive's employment to a place that is more than 50 miles from Madison Heights, Michigan; or (v) the Bank otherwise commits a material breach of its obligations under this Agreement and fails to cure the breach within 30 days after Executive gives the Bank written notice of the breach.

Constructive Discharge. Following a Change of Control, if Executive is Constructively Discharged, he may terminate this Agreement and his employment by delivering written notice to the Bank no later than 30 days before the effective date of termination. "Constructive Discharge" means the occurrence of any one or more of the following, without Executive's prior written consent: (i) Executive is not reelected to or is removed as Senior Vice President and Chief Senior Lending Officer of the Bank; (ii) the Bank fails to vest Executive with or removes from him the duties, responsibilities, authority or resources that he reasonably needs to competently perform his duties as Senior Vice President and Chief Senior Lending Officer of the Bank; (iii) the Bank notifies Executive that it is terminating this Agreement pursuant to Section 3(b); (iv) the Bank changes the primary location of Executive's employment to a place that is more than 50 miles from Madison Heights, Michigan; or (v) the Bank otherwise commits a material breach of its obligations under this Agreement and fails to cure the breach within 30 days after Executive gives the Bank written notice of the breach.

Constructive Discharge. Following a Change of Control, if Executive is Constructively Discharged, he may terminate this Agreement and his employment by delivering written notice to the Bank no later than 30 days before the effective date of termination. "Constructive Discharge" means the occurrence of any one or more of the following, without Executive's prior written consent: (i) Executive is not reelected to or is removed as Senior Vice President and Chief Lending Financial Officer of the Bank; (ii) the Bank fails to vest Executive with or removes from him the duties, responsibilities, authority or resources that he reasonably needs to competently perform his duties as Senior Vice President and Chief Lending Financial Officer of the Bank; (iii) the Bank notifies Executive that it is terminating this Agreement pursuant to Section 3(b); (iv) the Bank changes the primary location of Executive's employment to a place that is more than 50 miles from Madison Heights, Michigan; or (v) the Bank otherwise commits a material breach of its obligations under this Agreement and fails to cure the breach within 30 days after Executive gives the Bank written notice of the breach.

Constructive Discharge. Following a Change of Control, if Executive is Constructively Discharged, he may terminate this Agreement and his employment by delivering written notice to the Bank no later than 30 days before the effective date of termination. "Constructive Discharge" means the occurrence of any one or more of the following, without Executive's prior written consent: (i) Executive is not reelected to or is removed as Senior Vice President and Chief Lending Officer Retail/Marketing of the Bank; (ii) the Bank fails to vest Executive with or removes from him the duties, responsibilities, authority or resources that he reasonably needs to competently perform his duties as Senior Vice President and Chief Lending Officer Retail/Marketing of the Bank; (iii) the Bank notifies Executive that it is terminating this Agreement pursuant to Section 3(b); (iv) the Bank changes the primary location of Executive's employment to a place that is more than 50 miles from Madison Heights, Michigan; or (v) the Bank otherwise commits a material breach of its obligations under this Agreement and fails to cure the breach within 30 days after Executive gives the Bank written notice of the breach.

Constructive Discharge. Following a Change of Control, if Executive is Constructively Discharged, he may terminate this Agreement and his employment by delivering written notice to the Bank no later than 30 days before the effective date of termination. "Constructive Discharge" means the occurrence of any one or more of the following, without Executive's prior written consent: (i) Executive is not reelected to or is removed as Senior Vice President and Chief Lending Officer President, Retail of the Bank; (ii) the Bank fails to vest Executive with or removes from him the duties, responsibilities, authority or resources that he reasonably needs to competently perform his duties as Senior Vice President and Chief Lending Officer President, Retail of the Bank; (iii) the Bank notifies Executive that it is terminating this Agreement pursuant to Section 3(b); (iv) the Bank changes the primary location of Executive's employment to a place that is more than 50 miles from Madison Heights, Michigan; or (v) the Bank otherwise commits a material breach of its obligations under this Agreement and fails to cure the breach within 30 days after Executive gives the Bank written notice of the breach.