Document ID: 10432

Text:
(a)For the purposes of this Agreement, a Change of Control shall be deemed to have taken place if (i) any person, including a group as defined in Section 13(d)(3) of the Securities Exchange Act of 1934 , as amended, becomes the owner or beneficial owner of Company securities, after the date of this Agreement, having twenty-five percent (25%) or more of the combined voting power of the then outstanding securities of the Company that may be cast for the election of directors of the Company (other than as a result of an issuance of securities initiated by the Company, or open market purchases approved by the Board, as long as the majority of the Board approving the purchases is the majority at the time the purchases are made); or (ii) the persons who were directors of the Company before such transactions shall cease to constitute a majority of the Board of the Company, or any successor to the Company, as the direct or indirect result of or in connection with, any cash tender or exchange offer, merger or other business combination, sale of assets or contested election, or any combination of the foregoing transaction. For Change of Control purposes, if the company is a private entity, then the trigger on change of control would be the ownership, beneficially or otherwise, of a majority of the voting securities.

Named Entities:
44
48
Act
74
75
Percentage

Tokenized Text:
(
a
)
For
the
purposes
of
this
Agreement
,
a
Change
of
Control
shall
be
deemed
to
have
taken
place
if
(
i
)
any
person
,
including
a
group
as
defined
in
Section
13
(
d
)
(
3
)
of
the
Securities
Exchange
Act
of
1934
,
as
amended
,
becomes
the
owner
or
beneficial
owner
of
Company
securities
,
after
the
date
of
this
Agreement
,
having
twenty-five
percent
(
25
%
)
or
more
of
the
combined
voting
power
of
the
then
outstanding
securities
of
the
Company
that
may
be
cast
for
the
election
of
directors
of
the
Company
(
other
than
as
a
result
of
an
issuance
of
securities
initiated
by
the
Company
,
or
open
market
purchases
approved
by
the
Board
,
as
long
as
the
majority
of
the
Board
approving
the
purchases
is
the
majority
at
the
time
the
purchases
are
made
)
;
or
(
ii
)
the
persons
who
were
directors
of
the
Company
before
such
transactions
shall
cease
to
constitute
a
majority
of
the
Board
of
the
Company
,
or
any
successor
to
the
Company
,
as
the
direct
or
indirect
result
of
or
in
connection
with
,
any
cash
tender
or
exchange
offer
,
merger
or
other
business
combination
,
sale
of
assets
or
contested
election
,
or
any
combination
of
the
foregoing
transaction
.
For
Change
of
Control
purposes
,
if
the
company
is
a
private
entity
,
then
the
trigger
on
change
of
control
would
be
the
ownership
,
beneficially
or
otherwise
,
of
a
majority
of
the
voting
securities
.