Constructive Termination Process definition
Constructive Termination Process means that (i) Executive reasonably determines in good faith that a "Constructive Termination" event has occurred; (ii) Executive notifies the Company in writing of the occurrence of the Constructive Termination event; (iii) Executive cooperates in good faith with the Company's efforts, for a period not less than sixty (60) days following such notice, to modify Executive's employment situation in a manner acceptable to Executive and Company; and (iv) notwithstanding such efforts, one or more of the Constructive Termination events continues to exist and has not been modified in a manner acceptable to Executive. If the Company cures the Constructive Termination event in a manner acceptable to Executive during the sixty (60) day period, Constructive Termination shall be deemed not to have occurred. In the event that the agreements or plans governing any of Executive's stock-based grants and awards include and use a definition of "Constructive Termination", the definition of Constructive Termination above shall supercede and apply in place of any such definition in the applicable agreement and/or plan with respect to Executive's applicable stock-based grants and awards.
Constructive Termination Process means that (i) Executive reasonably determines in good faith that a “Constructive Termination” event has occurred; (ii) Executive notifies the Company in writing of the occurrence of the Constructive Termination event within ninety (90) days following the initial occurrence of such event; (iii) Executive cooperates in good faith with the Company’s efforts, for a period not less than sixty (60) days following such notice, to modify Executive’s employment situation in a manner acceptable to Executive and Company; and (iv) notwithstanding such efforts, one or more of the Constructive Termination events continues to exist and has not been modified in a manner acceptable to Executive. If the Company cures the Constructive Termination event in a manner acceptable to Executive during the sixty (60) day period, Constructive Termination shall be deemed not to have occurred. In the event that the agreements or plans governing any of Executive’s stock-based grants and awards include and use a definition of “Constructive Termination”, the definition of Constructive Termination above shall supersede and apply in place of any such definition in the applicable agreement and/or plan with respect to Executive’s applicable stock-based grants and awards.