Common use of Constructive Dismissal Clause in Contracts

Constructive Dismissal. In the event of termination of the Employee based on "constructive dismissal", the Employee shall be entitled to elect, within 60 days of the happening of such event by notice in writing to the Board, to treat this Agreement at an end in which event the Employee shall be entitled to receive by way of a termination allowance in an amount equal to the total of (i) his then current Salary pursuant to section 0 hereof pro rated to the end of such 60 day notice period and any accrued but unpaid vacation pay, and (ii) an aggregate of six months of his then current Salary, payable in six equal installments once a month, on the last business day of such month, for six months. Such payments will be subject to statutory deductions and withholdings. In addition, the Employee shall be entitled to, for six months following the end of the 60 day notice period, to the extent they can be made available, the Regular Benefits pursuant to section 0 hereof. The Employee shall be entitled to no further compensation of any nature whatsoever.

Constructive Dismissal. In the event of termination of the Employee based on "constructive dismissal", the Employee shall be entitled to elect, elect within 60 days of the happening of such event by notice in writing to the Board, Board to treat this Agreement at an end in which event the Employee shall be entitled to receive by way of a termination allowance in an amount equal to the total of (i) his then current Salary pursuant to section 0 4 hereof pro rated to the end of such 60 day notice period and any accrued but unpaid vacation pay, and (ii) an aggregate of six months of his then current Salary, payable in six equal installments once a month, on the last business day of such month, for six months. Such payments will be subject to statutory deductions and withholdings. In addition, the Employee shall be entitled to, for six months following the end of the 60 day notice period, to the extent they can be made available, the Regular Benefits pursuant to section 0 4 hereof. The Employee shall be entitled to no further compensation of any nature whatsoever.