Common use of Diminution of Responsibility Clause in Contracts

Diminution of Responsibility. (A) A material diminution in Executive’s status, title, position or responsibilities as in effect immediately prior thereto; (B) the assignment to Executive of any duties or responsibilities which are materially inconsistent with such status, title, position or responsibilities; or (C) any removal of Executive from or failure to reappoint Executive to the position of President and Chief Executive Officer, except in connection with the termination of Executive’s employment as provided for elsewhere in this Agreement;

Appears in 2 contracts

Samples: Executive Employment Agreement (Ribapharm Inc), Executive Employment Agreement (Ribapharm Inc)

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Diminution of Responsibility. (A) A any material diminution reduction in Executive’s status, title, position his duties or responsibilities as in effect immediately prior thereto; , (B) the assignment to Executive of any duties or responsibilities which are materially inconsistent with such status, title, position or responsibilities; or (C) any removal of Executive from or failure to reappoint Executive to the position of President and Chief Executive OfficerOfficer of the Company or President of BLS, except in connection with the termination of Executive’s his employment for Disability, Cause, as a result of his death or by Executive other than for Good Reason, or (C) any failure to re-nominate Executive to the Board (including by reason of the failure to obtain any supermajority approval of directors as provided for elsewhere in this Agreement;Section 2(a) hereof); or

Appears in 2 contracts

Samples: Employment Agreement (Valeant Pharmaceuticals International), Employment Agreement (BIOVAIL Corp)

Diminution of Responsibility. (A) A Any material diminution reduction in Executive’s status, title, position duties or responsibilities as Chief Executive Officer as in effect immediately prior thereto; thereto or (B) the assignment to Executive of any duties or responsibilities which are materially inconsistent with such status, title, position or responsibilities; or (C) any removal of Executive from or failure to reappoint Executive to the position of President and Chief Executive OfficerOfficer of the Company (or, following a Change in Control or a corporate restructuring, removal from the position of Chief Executive Officer of the ultimate parent company of the resulting entity), except in connection with the termination of Executive’s his employment for Disability, Cause, as provided a result of his death or by Executive other than for elsewhere in this AgreementGood Reason;

Appears in 1 contract

Samples: Employment Agreement (Valeant Pharmaceuticals International, Inc.)

Diminution of Responsibility. (A) A Any material diminution reduction in Executive’s status, title, position duties or responsibilities as Chief Executive Officer as in effect immediately prior thereto; , or assignment of duties materially inconsistent with Executive’s title and authority (including the appointment of an Executive Chairman of the Company who is not Executive) or (B) the assignment to Executive of any duties or responsibilities which are materially inconsistent with such status, title, position or responsibilities; or (C) any removal of Executive from or failure to reappoint Executive to the position of President and Chief Executive OfficerOfficer of the Company, except in connection with the termination of Executive’s his employment for Disability, Cause, as provided a result of his death or by Executive other than for elsewhere in this AgreementGood Reason;

Appears in 1 contract

Samples: Employment Agreement (Cheniere Energy Inc)

Diminution of Responsibility. (A) A material diminution in Executive’s 's status, title, position or responsibilities as in effect immediately prior thereto; (B) the assignment to Executive of any duties or responsibilities which are materially inconsistent with such status, title, position or responsibilities; or (C) any removal of Executive from or failure to reappoint Executive to the position of President and Chief Executive Officer, except in connection with the termination of Executive’s 's employment as provided for elsewhere in this Agreement;

Appears in 1 contract

Samples: Executive Employment Agreement (Valeant Pharmaceuticals International)

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Diminution of Responsibility. (A) A Any material diminution reduction in Executive’s status, title, position his duties or responsibilities as Chief Executive Officer as in effect immediately prior thereto; , (B) the assignment to Executive of any duties or responsibilities which are materially inconsistent with such status, title, position or responsibilities; or (C) any removal of Executive from or failure to reappoint Executive to the position of President and Chief Executive OfficerOfficer of the Company, except in connection with the termination of Executive’s his employment for Disability, Cause, as provided a result of his death or by Executive other than for elsewhere in this Agreement;Good Reason; or (C) removal of Executive from the position of Chairman of the Board, except to the extent that Executive is not permitted by applicable law or stock exchange rules to serve as such; or

Appears in 1 contract

Samples: Employment Agreement (Valeant Pharmaceuticals International, Inc.)

Diminution of Responsibility. (A) A material diminution in Executive’s 's status, title, position or responsibilities (including reporting responsibilities) as in effect immediately prior thereto; (B) the assignment to Executive of any duties or responsibilities which are materially inconsistent with such status, title, position or responsibilities; or (C) any removal of Executive from or failure to reappoint Executive to the position of Executive Vice President and Chief Executive Financial Officer, except in connection with the termination of Executive’s 's employment as provided for elsewhere in this Agreement;

Appears in 1 contract

Samples: Executive Employment Agreement (Icn Pharmaceuticals Inc)

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