Common use of Constructive Termination of Employment Clause in Contracts

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. If the Executive so elects, a termination by the Company without Cause under Section 6(d) shall 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, 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, 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, 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. If the Executive so elects, a A termination by the Company without Cause under Section 6(d) 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; , of failure of the Executive to be elected to the Board of Directors or (2) any reduction in the Executive's salary; or (3) a material breach of the Agreement by the Company, ; or (43) 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 Effective Date of the Agreement, which reduction shall not be effectuated for similarly situated employees of the Company; or (54) failure by a successor company to assume the obligations under the Agreement. (5) a change in the Executive's principal office to a location outside Palm Beach or Broward County, Florida. 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)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 Company shall then be given the opportunity, within fifteen (15) days of its receipt of such notice 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 and in subsections (1) through (5) above)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) i. a significant change in the nature or scope of the authorities, powers, functions, duties duties, or responsibilities attached to the Executive's ’s position as described in Section 3; or (2) ii. a change in the Executive’s principal office to a location outside the counties of Palm Beach or Broward County, Florida; or iii. any reduction in the Executive's salary’s Base Salary; or (3) iv. a material breach of the Agreement by the Company, ; or (4) v. a material reduction of the Executive's ’s benefits under any employee benefit plan, program program, or arrangement (for the 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) vi. 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 ’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 ’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 6(f) (whether such second occurrence be of the same or a different event specified in subsections (1i) through (5vi) above).

Constructive Termination of Employment. If the Executive so elects, a A termination by the Company without Cause under Section 6(d) 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; or (2) any reduction in the Executive's salary; or (3) a material breach of the Agreement by the Company, ; or (43) 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 Effective Date of the Agreement, which reduction shall not be effectuated for similarly situated employees of the Company; or (54) failure by a successor company to assume the obligations under the Agreement; or (5) a change in the Executive's principal office to a location outside Palm Beach or Broward County, Florida. 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)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 Company shall then be given the opportunity, within fifteen (15) days of its receipt of such notice 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 and in subsections (1) through (5) above)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 A termination by the Company without Cause under Section 6(d) 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, of failure of the Executive to be elected to the Board of Directors; or (2) any reduction in the Executive's salary; or (3) a material breach of the Agreement by the Company, ; or (43) 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 Effective Date of the Agreement, which reduction shall not be effectuated for similarly situated employees of the Company; or (54) failure by a successor company to assume the obligations under the Agreement. (5) a relocation of the Company's executive offices outside of Broward County or Palm Beach County which would require the Executive to work on a regular basis outside of Broward County or Palm Beach County. 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)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 Company shall then be given the opportunity, within fifteen (15) days of its receipt of such notice 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 and in subsections (1) through (5) above)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(d6 (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: (1i) 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 33 or failure of the Executive to be elected Chairman of the Board of Directors; or (2ii) any five percent (5%) reduction in the Executive's salaryBase Salary or any change in the method of calculating the Annual Bonus hereunder which would be detrimental to Executive in any respect; or (3iii) a material breach of the Agreement by the Company, ; or (4iv) a material reduction of the Executive's benefits under any employee benefit the executive benefits 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 Effective Date of the Agreement, which reduction shall not be effectuated for similarly situated employees of the Company; or (5v) failure by a successor company to assume the obligations under this Agreement, or (vi) a change in the AgreementExecutive principal office to a location outside the State of Florida. 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(f6 (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 Executive 5 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 6 (f) (whether such second occurrence be of the same or a different event specified in subsections (1i) through thorough (5v) above.).

Constructive Termination of Employment. If the Executive so elects, a A termination by the Company without Cause under Section 6(d6(c) 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 a change in the Executive's salaryprincipal office to a location outside the Palm Beach-Broward-Dade County, Florida area; 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(f6(e), 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 event and in no event will there be a different event specified required period to cure following the occurrence of two events as described in subsections (1) through (5) abovethis Section 6(e).