Common use of PREMATURE TERMINATION WITHOUT CAUSE AND CONSTRUCTIVE TERMINATION Clause in Contracts

PREMATURE TERMINATION WITHOUT CAUSE AND CONSTRUCTIVE TERMINATION. 1. In the event of the termination of the Employee's employment under this Agreement prior to the last day of the then current term, either (A) by the Employer for any reason other than a termination in accordance with the provisions of paragraph 3(d), 3(e) or 3(f) or (B) by the Employee by written notice to the Employer given within thirty (30) days of Constructive Discharge (as hereinafter defined) effective as of thirty (30) days after such notice, then the Employer shall: (A) pay the Employee the greater of (x) the Base Salary the Employee would have received had he remained employed through the end of the then current term of the Agreement and (y) six (6) months of Base Salary; (B) pay the Employee, if such termination occurs in the 1997 calendar year, the Base Bonus; (C) continue to provide coverage for the Employee under the medical benefit program maintained by the Employer through the remainder of the term of the Agreement (if permitted to do so under such program), and (D) pay all expenses related to the relocation of Employee and Employee's family to the U.S. location of Employee's choice, including packing and shipping Employee's household effects, furniture and personal belongings. The benefits provided in paragraphs 2(f), 2(g), 2(m) and 2(n) shall continue for 3 months or, if Employee's children are attending school in Bermuda at the time of such termination, the end of the academic school year, whichever is longer; provided, however, that such continuation shall not include any expenses for temporary housing or accommodation in the U.S. The benefits described in paragraphs 2(c) and 2(i) shall not continue following termination under this paragraph 3(c). 2. Payments to the Employee under this paragraph 3(c) will be made in accordance with the regular payroll practices of the Employer during the remaining term of this Agreement or, at the election of the Employer, such payments may be made in a lump sum. 3. For purposes of this Agreement, the Employee shall be deemed "Constructively Discharged" if the Employer changes the primary employment location of the Employee to a place other than Bermuda without the express written consent of the Employee.

PREMATURE TERMINATION WITHOUT CAUSE AND CONSTRUCTIVE TERMINATION. 1. In the event of the termination of the Employee's employment under this Agreement prior to the last day of the then current term, either (A) by the Employer for any reason other than a termination in accordance with the provisions of paragraph 3(d), 3(e) or 3(f) or (B) by the Employee by written notice to the Employer given within thirty (30) days of Constructive Discharge (as hereinafter defined) effective as of thirty (30) days after such notice, then the Employer shall: (A) pay the Employee the greater of (x) the Base Salary the Employee would have received had he remained employed through the end of the then current term of the Agreement and (y) six (6) months of Base Salary; (B) pay the Employee, if such termination occurs in the 1997 calendar year, the Base Bonus; (C) continue to provide coverage for the Employee under the medical benefit program maintained by the Employer through the remainder of the term of the Agreement (if permitted to do so under such program), and (D) pay all expenses related to the relocation of Employee and Employee's family to the U.S. location of Employee's choice, including packing and shipping Employee's household effects, furniture and personal belongings. The benefits provided in paragraphs 2(f), 2(g), 2(m) and 2(n) shall continue for 3 months or, if Employee's children are attending school in Bermuda at the time of such termination, the end of the academic school year, whichever is longermonths; provided, however, that such continuation shall not include any expenses for temporary housing or accommodation in the U.S. The benefits described in paragraphs 2(c) and 2(i) shall not continue following termination under this paragraph 3(c). 2. Payments to the Employee under this paragraph 3(c) will be made in accordance with the regular payroll practices of the Employer during the remaining term of this Agreement or, at the election of the Employer, such payments may be made in a lump sum. 3. For purposes of this Agreement, the Employee shall be deemed "Constructively Discharged" if the Employer changes the primary employment location of the Employee to a place other than Bermuda without the express written consent of the Employee.