definiens: means, with respect to [COMPANY] ( x ) a Business Combination, unless, following such Busine ss Combination all or substantially all of the indi viduals and entities who were the beneficial owners, respective ly, of the outstanding voting securities of Versart is immediately prior to such Business Combination beneficially own, directly or indirectly, more than [ * ] percent ( [ * ] % ) of the then - outstanding voting securities entitled to vote generally in the election of directors of the corp oration resulting from such Business Combination ( including, without limitation, a corporation that as a result of such transaction owns [COMPANY] or all or substantially all of Versa rtis ’ assets either directly or through one or more subsidiaries ) in substantially the same proportions as their ownersh ip, immediately prior to such Business Combination, of the outstanding voting securities of [ * ] = Certain confidential information contained in this document, marked by brackets, has been omit ted and filed separately with the Securities and Exchange C ommission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended