Constructive Termination of Employment. A termination of employment by Executive shall be deemed to be a Constructive Termination of employment upon the occurrence of one or more of the following events without the express written consent of the Executive. In such event, the Executive shall be entitled to all Compensation and Benefits as set forth in Subsection 6(h) of this Agreement:
(1) a material adverse change in the nature or scope of the authorities, powers, functions, duties or responsibilities attached to Executive's position as described in Section 3; or
(2) a change in the Executive's principal office to a location outside of Broward County or Palm Beach County; or
(3) any material reduction in the Executive's base salary, bonus or other benefits; or
(4) a material breach of the Agreement by the Company. Anything herein to the contrary notwithstanding, the Executive shall be required to give written notice to the Board of Directors of the Company that the Executive believes an event has occurred which would result in a Constructive Termination of the Executive's employment under this Section 6(f) within ninety (90) days of the initial occurrence, which written notice shall specify the particular act or acts, on the basis of which the Executive intends to so terminate the Executive's employment, and the Company shall then be given the opportunity, within thirty (30) days of its receipt of such notice, to cure said event. Executive's termination shall not be considered to be a Constructive Termination unless such termination occurs on or before two (2) years after the initial existence of the condition or event giving rise to the Constructive Termination.
Constructive Termination of Employment. A termination by the Company without Cause under Section 6D shall be deemed to have occurred upon the occurrence of one or more of the following events without the express written consent of the Executive:
1. a significant change in the nature or scope of the authorities, powers, functions, duties or responsibilities attached to Executive's position as described in Section 3;
Constructive Termination of Employment. A termination by the Corporation without Cause under Section 6d shall be deemed to have occurred upon the occurrence of one or more of the following events without the express written consent of the Executive:
(1) a material breach of the Agreement by the Corporation; or
(2) failure by a successor company to assume the obligations under the Agreement. Anything herein to the contrary notwithstanding, the Executive shall give written notice to the Board of Directors of the Corporation that the Executive believes an event has occurred which would result in a Constructive Termination of the Executive's employment under this Section 6f, which written notice shall specify the particular act or acts, on the basis of which the Executive intends to so terminate the Executive's employment, and the Corporation shall then be given the opportunity, within thirty (30) days of its receipt of such notice, to cure said event; provided, however, there shall be no period permitted to cure a second occurrence of the same event and in no event will there be any period to cure following the occurrence of two events described in this Section 6f.
Constructive Termination of Employment. If the Executive so elects, a termination by the Company without Cause under Section 6(d) shall be deemed to have occurred upon the occurrence of one or more of the following events without the express written consent of the Executive:
(1) a significant change in the nature or scope of the authorities, powers, functions, duties or responsibilities attached to Executive's position as described in Section 3; or
(2) any reduction in the Executive's salary; or
(3) a material breach of the Agreement by the Company, or
(4) a material reduction of the Executive's benefits under any employee benefit plan, program or arrangement (for Executive individually or as part of a group) of the Company as then in effect or as in effect on the effective date of the Agreement, which reduction shall not be effectuated for similarly situated employees of the Company; or
(5) failure by a successor company to assume the obligations under the Agreement. Anything herein to the contrary notwithstanding, the Executive shall give written notice to the Board of Directors of the Company that the Executive believes an event has occurred which would result in a Constructive Termination of the Executive's employment under this Section 6(f), which written notice shall specify the particular act or acts, on the basis of which the Executive intends to so terminate the Executive's employment, and the Company shall then be given the opportunity, within fifteen (15) days of its receipt of such notice to cure said event, provided, however, there shall be no time period permitted to cure a second or subsequent occurrence under this Section 6(f)(whether such second occurrence be of the same or a different event specified in subsections (1) through (5) above).
Constructive Termination of Employment by the Company without ---------------------------------------------- --------------- Due Cause ---------- Anything herein to the contrary notwithstanding, if the Company:
(A) demotes or otherwise elects or appoints the Employee to a lesser office than set forth in Section 3.1 or fails to elect or appoint him to such position;
(B) causes a material change in the nature or scope of the authorities, powers, functions, duties or responsibilities attached to the Employee's position as described in Section 3.1;
(C) decreases the Employee's salary or annual bonus opportunity below the levels provided for by the terms of Sections 4.1 and 4.2 (taking into account any salary increases made from time to time in accordance with Section 4.1);
(D) materially reduces the Employee's benefits under any employee benefit plan, program, or arrangement of the Company (other than a change that affects all employees similarly situated) from the level in effect upon the Employee's commencement of participation; or
(F) commits any other material breach of this Agreement, then such action (or inaction) by the Company, unless consented to in writing by the Employee, shall constitute a termination of the Employee's employment by the Company other than for Due Cause pursuant to Section 5.4 above. If, within thirty (30) days of learning of the action (or inaction) described herein as a basis for a constructive termination of employment, the Employee (unless he has given written consent thereto) notifies the Company in writing that he wishes to effect a constructive termination of his employment pursuant to this Section 5.5, and such action (or inaction) is not reversed or otherwise remedied by the Company within 30 days following receipt by the Company of such written notice, then effective at the end of such second 30 day period, the employment of the Employee hereunder shall be deemed to have terminated pursuant to Section 5.4 above.
Constructive Termination of Employment. 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 of the conditions and the Bank failed to take timely reasonable actions to remedy the conditions.
Constructive Termination of Employment. A termination by the Company for Reasons Other than Cause under Section 6(d) shall, at the option of the Executive, be deemed to have occurred upon the occurrence of one or more of the following events (each, a “Constructive Termination”) without the express written consent of the Executive:
(1) a significant change in the nature or scope of the authorities, powers, functions, duties or responsibilities attached to the Executive’s position as described in Section 3; or
(2) a material breach of the Agreement by the Company; or
(3) a material reduction of the Executive’s benefits under any employee benefit plan, compensation plan, program or arrangement (for Executive individually or as part of a group) of the Company as then in effect or as in effect on the Effective Date, which reduction shall not be effectuated for similarly situated employees of the Company; or
(4) failure by a successor company to assume the obligations under this Agreement; or
(5) a change in the Executive’s principal office to a location outside the South Florida area. Anything herein to the contrary notwithstanding, the Executive shall give written notice to the Board of the Directors that the Executive believes an event has occurred which would result in a Constructive Termination of the Executive’s employment under this Section 6(f), which written notice shall specify the particular act or acts, on the basis of which the Executive intends to so terminate the Executive’s employment, and the Company shall then be given the opportunity, within fifteen (15) days of its receipt of such notice to cure said event; provided, however, there shall be no period permitted to cure a second (2nd) occurrence of the same event and in no event will there be a required period to cure following the occurrence of two (2) events as described in this Section 6(f).
Constructive Termination of Employment. “Constructive Termination” shall mean and exist if, without the Employee’s prior written consent, one or more of the following events occurs and the Employee shall elect to terminate the Employee’s employment with the Company:
Constructive Termination of Employment. A termination by the Company Without Cause under Section 7 shall be deemed to have occurred upon the occurrence of one or more of the following events without the EXPRESS written consent of the Employee:
(1) a significant change in the nature or scope of the authorities, powers, functions, duties or responsibilities attached to the Employee's position as described in Section 2; or
(2) a five percent (5%) reduction in the Employee's salary below the salary in effect immediately prior to such reduction; or
(3) a material breach of this Agreement by the Company;
(4) failure by a successor company to assume the obligations under the Agreement; or
(5) change in the Employee's principal office to a location outside the Dade-Broward-Palm Beach County, Florida area. Anything herein to the contrary notwithstanding, the Employee shall give written notice to the Board of Directors of the Company that the Employee believes an event has occurred which would result in a Constructive Termination of the Employee's employment under this Section 6(b), which written notice shall specify the particular act or acts, on the basis of which the Employee intends to so terminate the Employee's employment, and the Company shall then be given the opportunity, within fifteen (15) days of its receipt of such notice to cure said event.
Constructive Termination of Employment. A termination by the Company without Cause under Section 6D shall be deemed to have occurred upon the occurrence of one or more of the following events without the express written consent of the Executive:
1. a significant change in the nature or scope of the authorities, powers, functions, duties or responsibilities attached to Executive's position as described in Section 3;
2. a change in Executive's principal office to a location more than 60 miles from the Executive’s place of employment on the Effective Date.
3. A material breach of this Agreement by the Company;
4. A material reduction of the Executive's benefits under any employee benefit plan, program or arrangement (for Executive individually or as part of a group) of the Company, which reduction shall not apply to similarly situated employees of the Company; or
