Common use of Trigger Event Clause in Contracts

Trigger Event. A Trigger Event means, for purposes of this Agreement, the occurrence of any one of the following events: (a) the failure by the Board to reelect or appoint the Executive to a position with duties, functions and responsibilities substantially equivalent to the position held by the Executive on the Control Change Date; (b) a material modification by the Board of the duties, functions responsibilities of the Executive without his consent; (c) the failure of the Company to permit the Executive to exercise such responsibilities as are consistent with the Executive's position and are of such a nature as are usually associated with such office of a corporation engaged in substantially the same business as the Company; (d) the Company requires the Executive to relocate his employment more than fifty (50) miles from his place of employment, without the consent of the Executive, excluding reasonably required business travel or temporary assignments for a reasonable period of time; (e) a reduction in Executive's compensation or benefits; or (f) the Company shall fail to make a payment when due to the Executive.

Trigger Event. A Trigger Event means, for purposes of this Agreement, the occurrence of any one of the following events: (a) the failure by the Board to reelect or appoint the Executive to a position with duties, functions and responsibilities substantially equivalent to the position held by the Executive on the Control Change Date; (b) a material modification by the Board of the duties, functions responsibilities of the Executive without his consent; (c) the failure of the Company to permit the Executive to exercise such responsibilities as are consistent with the Executive's ’s position and are of such a nature as are usually associated with such office of a corporation engaged in substantially the same business as the Company; (d) the Company requires the Executive to relocate his employment more than fifty (50) miles from his place of employment, without the consent of the Executive, excluding reasonably required business travel or temporary assignments for a reasonable period of time; (e) a reduction in Executive's ’s compensation or benefits; or (f) the Company shall fail to make a payment when due to the Executive.