Common use of Deemed Termination of Employment Clause in Contracts

Deemed Termination of Employment. For purposes of paragraph 15 hereof, Executive shall be deemed to have been discharged by Employer if Executive voluntarily resigns before the end of the term of this Agreement, but after a change in control has occurred, provided that Executive could not be discharged by Employer for Cause, has given Employer at least 30 days prior written notice of such resignation, and such resignation occurs after any of the following: (a) Executive is removed or released from any of his titles, positions or offices in effect immediately prior to the occurrence of a change in control, or Executive's duties and responsibilities in such titles, positions or offices are materially changed; (b) Executive's base salary in effect immediately before the change in control is reduced; (c) Executive is removed from participation in any of Employer's bonus or profit sharing programs, or any such bonus of profit sharing programs in which Executive was or was entitled to participate in immediately prior to the change in control are discontinued; (d) Executive's office is based more than 50 miles ftom the location of the principle office at which Executive was based immediately prior to the occurrence of the change in control; or (e) Employer deprives Executive of or otherwise reduces any material fringe benefit, including perquisites, provided to Executive by Employer immediately prior to the occurrence of a change in control.

Deemed Termination of Employment. For purposes of paragraph 15 hereof, Executive shall be deemed to have been discharged by Employer if Executive voluntarily resigns before the end of the term of this Agreement, but after a change in control has occurred, provided that Executive could not be discharged by Employer for Cause, has given Employer at least 30 days prior written notice of such resignation, and such resignation occurs after any of the following: (a) : Executive is removed or released from any of his titles, positions positions, or offices in effect immediately prior to the occurrence of a change in control, or Executive's ’s duties and responsibilities in such titles, positions or offices are materially changed; (b) ; Executive's ’s base salary in effect immediately before the change in control is reduced; (c) ; Executive is removed from participation in any of Employer's ’s bonus or profit sharing programs, or any such bonus of profit sharing programs in which Executive was or was entitled to participate in immediately prior to the change in control are discontinued; (d) ; Executive's ’s office is based more than 50 miles ftom from the location of the principle office at which Executive was based immediately prior to the occurrence of the change in control; or (e) or Employer deprives Executive of or otherwise reduces any material fringe benefit, including perquisites, provided to Executive by Employer immediately prior to the occurrence of a change in control.

Deemed Termination of Employment. For purposes of paragraph 15 16 hereof, Executive shall be deemed to have been discharged by Employer if Executive voluntarily resigns before the end of the term of this Agreement, but after a change in control has occurred, provided that the Executive could not be discharged by Employer for Cause, has given Employer at least 30 days prior written notice of such resignation, and such resignation occurs after any of the following: (a) Executive is removed or released from any of his titles, positions positions, or offices in effect immediately prior to the occurrence of a change in control, or Executive's duties and responsibilities in such titles, positions positions, or offices are materially changed; (b) Executive's base salary in effect immediately before the change in control is reduced; (c) Executive is removed from participation in any of Employer's bonus or profit sharing programs, or any such bonus of or profit sharing programs in which Executive was or was entitled to participate in immediately prior to the change in control are discontinued; (d) Executive's office is based more than 50 miles ftom from the location of the principle principal office at which Executive was based immediately prior to the occurrence of the change in control; or (e) Employer deprives Executive of or otherwise reduces any material fringe benefit, including perquisites, provided to Executive by Employer immediately prior to the occurrence of a change in control. (f) Executive makes a determination in good faith that as a result of the change in control and a change in circumstances thereafter and since the date of this Agreement significantly affecting his position, he is unable to carry out the authorities, powers, functions or duties attached to his position and the situation is not remedied within 30 days after receipt by Employer of written notice from the Executive of such determination.

Deemed Termination of Employment. For purposes of paragraph 15 hereof, Executive shall be deemed to have been discharged by Employer if Executive voluntarily resigns before the end of the term of this Agreement, but after a change in control has occurred, provided that the Executive could not be discharged by Employer for Cause, has given Employer at least 30 days prior written notice of such resignation, and such resignation occurs after any of the following: (a) Executive is removed or released from any of his titles, positions positions, or offices in effect immediately prior to the occurrence of a change in control, or Executive's duties and responsibilities in such titles, positions positions, or offices are materially changed; (b) Executive's base salary in effect immediately before the change in control is reduced; (c) Executive is removed from participation in any of Employer's bonus or profit sharing programs, or any such bonus of or profit sharing programs in which Executive was or was entitled to participate in immediately prior to the change in control are discontinued; (d) Executive's office is based more than 50 miles ftom from the location of the principle principal office at which Executive was based immediately prior to the occurrence of the change in control; or (e) Employer deprives Executive of or otherwise reduces any material fringe benefit, including perquisites, provided to Executive by Employer immediately prior to the occurrence of a change in control. (f) Executive makes a determination in good faith that as a result of the change in control and a change in circumstances thereafter and since the date of this Agreement significantly affecting his position, he is unable to carry out the authorities, powers, functions or duties attached to his position and the situation is not remedied within 30 days after receipt by Employer of written notice from the Executive of such determination.

Deemed Termination of Employment. For purposes of paragraph 15 hereof, Executive shall be deemed to have been discharged by Employer if Executive voluntarily resigns before the end of the term of this Agreement, but after a change in control has occurred, provided that Executive could not be discharged by Employer for Cause, has given Employer at least 30 days prior written notice of such resignation, and such resignation occurs after any of the following: (a) : Executive is removed or released from any of his titles, positions positions, or offices in effect immediately prior to the occurrence of a change in control, or Executive's ’s duties and responsibilities in such titles, positions or offices are materially changed; (b) ; Executive's ’s base salary in effect immediately before the change in control is reduced; (c) ; Executive is removed from participation in any of Employer's ’s bonus or profit sharing programs, or any such bonus of or profit sharing programs in which Executive was or was entitled to participate in immediately prior to the change in control are discontinued; (d) ; Executive's ’s office is based more than 50 miles ftom from the location of the principle office at which Executive was based immediately prior to the occurrence of the change in control; or (e) or Employer deprives Executive of or otherwise reduces any material fringe benefit, including perquisites, provided to Executive by Employer immediately prior to the occurrence of a change in control.

Deemed Termination of Employment. For purposes of paragraph 15 hereof, Executive shall be deemed to have been discharged by Employer if Executive voluntarily resigns before the end of the term of this Agreement, but after a change in control has occurred, provided that Executive could not be discharged by Employer for Cause, has given Employer at least 30 days prior written notice of such resignation, and such resignation occurs after any of the following: (a) : Executive is removed or released from any of his titles, positions positions, or offices in effect immediately prior to the occurrence of a change in control, or Executive's duties and responsibilities in such titles, positions or offices are materially changed; (b) ; Executive's base salary in effect immediately before the change in control is reduced; (c) ; Executive is removed from participation in any of Employer's bonus or profit sharing programs, or any such bonus of profit sharing programs in which Executive was or was entitled to participate in immediately prior to the change in control are discontinued; (d) ; Executive's office is based more than 50 miles ftom from the location of the principle office at which Executive was based immediately prior to the occurrence of the change in control; or (e) or Employer deprives Executive of or otherwise reduces any material fringe benefit, including perquisites, provided to Executive by Employer immediately prior to the occurrence of a change in control.