Common use of Constructive Termination of Employment Clause in Contracts

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.

Appears in 9 contracts

Samples: Executive Employment Agreement (Level Brands, Inc.), Executive Employment Agreement (Level Brands, Inc.), Executive Employment Agreement (Bright Mountain Holdings, Inc./Fl)

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Constructive Termination of Employment. A termination by the Corporation without Cause under Section 6d 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 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 6f6(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 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 6f6(f).

Appears in 3 contracts

Samples: Executive Employment Agreement (Fourth Wave Energy, Inc.), Executive Employment Agreement (Bright Mountain Media, Inc.), Executive Employment Agreement (Bright Mountain Media, Inc.)

Constructive Termination of Employment. A termination by the Corporation without Cause under Section 6d (a “Constructive Termination”) 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; and/or (3) a material change in the Executive’s duties and responsibilities as described in Section 3a hereof. 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 ’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 ’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.

Appears in 2 contracts

Samples: Executive Employment Agreement (Level Brands, Inc.), Executive Employment Agreement (Level Brands, Inc.)

Constructive Termination of Employment. A termination by the Corporation Company without Cause under Section 6d (a “Constructive Termination”) 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; orCompany; (2) failure by a successor company to assume the obligations under the Agreement; and/or (3) a material change in the Executive’s duties and responsibilities as described in Section 3a hereof. Anything herein to the contrary notwithstanding, the Executive shall give written notice to the Parent 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 Company 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.

Appears in 2 contracts

Samples: Executive Employment Agreement (Level Brands, Inc.), Merger Agreement (Level Brands, Inc.)

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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; or (3) a material change in the Executive’s duties and responsibilities as described in Section 3a hereof. 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 ’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 ’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.

Appears in 1 contract

Samples: Executive Employment Agreement (cbdMD, Inc.)

Constructive Termination of Employment. A termination by the Corporation without Cause under Section 6d (a “Constructive Termination”) 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; and/or (3) a material change in the Executive’s duties and responsibilities as described in Section 3a hereof. 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.

Appears in 1 contract

Samples: Executive Employment Agreement (cbdMD, Inc.)

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