Common use of Other Involuntary Termination Clause in Contracts

Other Involuntary Termination. “Other Involuntary Termination” shall mean (i) any termination by the Company other than for Cause, death or Disability, or (ii) Employee’s voluntary termination for Good Reason (as defined in this Section 3(g)), in each case, excluding a Change in Control Involuntary Termination. For purposes of this Section 3(g), “Good Reason” shall mean that Employee has complied with the “Good Reason Process” following the occurrence of any of the following events: (i) a ten percent (10%) or greater decrease in Employee’s annual total cash compensation target (annual base salary plus annual bonus target) other than in connection with a general decrease in the total annual cash compensation target (annual base salary plus annual bonus target) for most officers of the Company and the successor corporation, if applicable; or (ii) a change in the geographic location at which Employee provides services to the Company that increases the Employee’s one-way commute by twenty-five (25) miles or more.

Appears in 5 contracts

Samples: Management Continuity Agreement (Assertio Holdings, Inc.), Management Continuity Agreement (Assertio Therapeutics, Inc), Management Continuity Agreement (Depomed Inc)

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Other Involuntary Termination. “Other Involuntary Termination” shall mean (i) any termination by the Company other than for Cause, death or Disabilitydisability, or (ii) Employee’s voluntary termination for Good Reason (as defined in this Section 3(g3(e)), in each case, excluding a Change in Control Involuntary Termination. For purposes of this Section 3(g3(e), “Good Reason” shall mean that Employee has complied with the “Good Reason Process” following the occurrence of any of the following events: (i) a ten percent (10%) or greater decrease in Employee’s annual total cash compensation target (annual base salary plus annual bonus target) other than in connection with a general decrease in the total annual cash compensation target (annual base salary plus annual bonus target) for most officers of the Company and the successor corporation, if applicable; or (ii) a change in the geographic location at which Employee provides services to the Company that increases the Employee’s one-way commute by twenty-five more than fifty (2550) miles or moremiles.

Appears in 1 contract

Samples: Management Continuity Agreement (Depomed Inc)

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