Substantial Functional Equivalent

Substantial Functional Equivalent. Means a position that: (i) is in a substantive area of the Participant's competence (e.g., financial or executive management) and is not materially different from the position held by the Participant immediately prior to the Change in Control; (ii) allows the Participant to serve in a role and perform duties functionally equivalent to those performed immediately prior to the Change in Control; and (iii) does not otherwise constitute a material adverse change in authority, title, status,... responsibilities or duties from those of the Participant immediately prior to the Change in Control, causing the Participant to be of materially lesser rank or responsibility, including a material adverse change in the Participant's reporting responsibilities from those in effect immediately prior to the Change in Control. View More