Common use of Involuntary Termination by Company Clause in Contracts

Involuntary Termination by Company. In the event of any involuntary termination of employment of the Employee by the Company, other than termination for Good Cause, Employee shall be entitled to receive, in a lump sum within ten business days after the effective date of such termination, an amount equal to the base salary to which Employee would have been entitled for the next twelve months. Any reduction in Employee's base compensation or a material reduction or adverse change in his duties and responsibilities, or any change in his work which involves a relocation of his principal place of employment by more than 50 miles, shall be treated as a termination of employment by the Company under this paragraph unless (i) Employee consents in writing to such reduction or change, or (ii) the Company can demonstrate by clear and convincing evidence that such reduction or change was based primarily on Employee's failure to reasonably perform his duties and responsibilities under the circumstances and, further, that such reduction or change was made only after the Company had provided Employee with written notice of such failure and a reasonable period of time to correct such failure.

Involuntary Termination by Company. In the event of any involuntary termination of employment of the Employee by the Company, other than termination for Good Cause, Employee shall be entitled to receive, in a lump sum within ten business days after the effective date of such termination, an amount equal to the base salary (less applicable withholding taxes) to which Employee would have been entitled for the next twelve months. Any reduction in Employee's base compensation or a material reduction or adverse change in his duties and responsibilities, or any change in his work which involves a relocation of his principal place of employment by more than 50 miles, shall be treated as a termination of employment by the Company under this paragraph unless (i) Employee consents in writing to such reduction or change, or (ii) the Company can demonstrate by clear and convincing evidence that such reduction or change was based primarily on Employee's failure to reasonably perform his duties and responsibilities under the circumstances and, further, that such reduction or change was made only after the Company had provided Employee with written notice of such failure and a reasonable period of time to correct such failure.

Involuntary Termination by Company. In the event of any involuntary termination of employment of the Employee by the Company, other than termination for Good Cause, Employee shall be entitled to receive, in a lump sum within ten business days after the effective date of such termination, an amount equal to the base salary to which Employee would have been entitled for the next twelve months. Any reduction in Employee's base compensation or a material reduction or adverse change in his her duties and responsibilities, or any change in his her work which involves a relocation of his her principal place of employment by more than 50 miles, shall be treated as a termination of employment by the Company under this paragraph unless (i) Employee consents in writing to such reduction or change, or (ii) the Company can demonstrate by clear and convincing evidence that such reduction or change was based primarily on Employee's failure to reasonably perform his her duties and responsibilities under the circumstances and, further, that such reduction or change was made only after the Company had provided Employee with written notice of such failure and a reasonable period of time to correct such failure.