Common use of Constructive Termination of Employment Clause in Contracts

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; 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, 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 (4) 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 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, 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. A If the Employee so elects, a termination by the Company 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 EXPRESS written consent of the ExecutiveEmployee: (1) i. a significant change in the nature or scope of the authorities, powers, functions, duties or responsibilities attached to ExecutiveEmployee's position as described in Section 3; or ii. five percent (25%) reduction in the Employee's base salary or any change in the method of calculating Employee's Bonus Compensation hereunder which would be detrimental to Employee in any respect; or iii. a material breach of the Agreement by the Company; or (3) iv. a material reduction of the ExecutiveEmployee's benefits under any employee benefit plan, program or arrangement (for Executive Employee 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 (4) v. failure by a successor company to assume the obligations under the Agreement; or. (5) vi. a change in the Executive's Executive principal office to a location outside the Broward and Palm Beach or Broward County, FloridaFlorida area. Anything herein to the contrary notwithstanding, the Executive Employee shall give written notice to the Board of Directors of the Company that the Executive Employee believes an event has occurred which would result in a Constructive Termination of the ExecutiveEmployee's employment under this Section 6f6(f), which written notice shall specify the particular act or acts, on the basis of which the Executive Employee intends to so terminate the ExecutiveEmployee'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 and specified in no event will there be any period to cure following the occurrence of two events described in this Section 6fsubsections (i) through (v) above).

Constructive Termination of Employment. A If the Executive so elects, a termination by the Company 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: (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) five percent (5%) reduction in the Executive's Base Salary or any change in the method of calculating the Annual Bonus hereunder which would be detrimental to Executive in any respect; or (iii) a material breach of the Agreement by the Company; or (3iv) 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 of the Agreement, which reduction shall not be effectuated for similarly situated employees of the Company; or (4v) failure by a successor company to assume the obligations under the this Agreement; , or (5vi) a change in the Executive's Executive principal office to a location outside Palm Beach or Broward County, 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 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 Executive 5 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 different event and specified in no event will there be any period to cure following the occurrence of two events described in this Section 6fsubsections (i) thorough (v) above.)

Constructive Termination of Employment. A termination by the Company without Cause under Section 6d 6(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) a change in Executive's principal 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 (34) 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 (45) 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 6f6(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, 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 a required period to cure following the occurrence of two events as described in this Section 6f6(e).

Constructive Termination of Employment. A termination by the Company without Cause under Section 6d 5(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, function duties or responsibilities attached to Executive's position as described in Section 31; or (2ii) a change in Executive's principal office to a location outside the Palm Beach, and Broward Counties, Florida area, without the prior written consent of the Executive; or (iii) a Five Percent (5%) reduction in the Executive's salary below the salary in effect immediately prior to such reduction or a reduction in the target bonus participation under Section 5(b) as a percentage of salary; or (iv) a material breach of the Agreement by the Company; , or (3v) 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 (4vi) failure by a successor company to assume the obligations under the Agreement; or (5vii) if at any time Executive is not a change in member of the Board of Directors of the Company without the prior written consent of 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 6f5(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, 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 a required period to cure following the occurrence of two events as described in this Section 6f5(f).

Constructive Termination of Employment. A If the Employee so elects, a termination by the Company 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 EXPRESS written consent of the ExecutiveEmployee: (1i) a significant change in the nature or scope of the authorities, powers, functions, duties or responsibilities attached to ExecutiveEmployee's position as described in Section 3; or (2ii) five percent (5%) reduction in the Employee's base salary or any change in the method of calculating Employee's Bonus Compensation hereunder which would be detrimental to Employee in any respect; or (iii) a material breach of the Agreement by the Company; or (3iv) a material reduction of the ExecutiveEmployee's benefits under any employee benefit plan, program or arrangement (for Executive Employee 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 (4v) failure by a successor company to assume the obligations under the this Agreement; or. (5vi) a change in the Executive's Executive principal office to a location outside the Broward and Palm Beach or Broward County, FloridaFlorida area. Anything herein to the contrary notwithstanding, the Executive Employee shall give written notice to the Board of Directors of the Company that the Executive Employee believes an event has occurred which would result in a Constructive Termination of the ExecutiveEmployee's employment under this Section 6f6(f), which written notice shall specify the particular act or acts, on the basis of which the Executive Employee intends to so terminate the ExecutiveEmployee'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 and specified in no event will there be any period to cure following the occurrence of two events described in this Section 6fsubsections (i) through (v) above).