Document ID: 1720

Text:
(f)Change of Control. Upon the occurrence of a Change of Control, the Company shall pay or provide to the Executive (or, following his death, to the Executives heirs, administrators or executors) an amount equal to four (4) times the Separation Payment amount set forth in Section 6(b) hereof, without regard to whether Executive continues in the employ of the Company or its successor. The Company shall deduct, from all payments made hereunder, all applicable taxes, including income tax, FICA and FUTA, and other appropriate deductions. For purposes of this Agreement, Change of Control shall mean the occurrence of any one or more of the following: (i) the accumulation (if over time, in any consecutive twelve (12) month period), whether directly, indirectly, beneficially or of record, by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934 , as amended) of 50.1% or more of the shares of the outstanding Common Stock of the Company, whether by merger, consolidation, sale or other transfer of shares of Common Stock (other than a merger or consolidation where the stockholders of the Company prior to the merger or consolidation are the holders of a majority of the voting securities of the entity that survives such merger or consolidation), (ii)a sale of all or substantially all of the assets of the Company or (iii) in the sole and absolute discretion of the Executive, during any period of twelve (12) consecutive months, the individuals who, at the beginning of such period, constitute the Board, and any new director whose election by the Board or nomination for election by the Companys stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the 12-month period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the Board; provided, however, that the following acquisitions shall not constitute a Change of Control for the purposes of this Agreement: (A) any acquisitions of Common Stock or securities convertible, exercisable or exchangeable into Common Stock directly from the Company or from any affiliate of the Company, (B) any acquisition of Common Stock or securities convertible, exercisable or exchangeable into Common Stock by any employee benefit plan (or related trust) sponsored by or maintained by the Company, or (C) any acquisitions of Common Stock or securities convertible, exercisable or exchangeable into Common Stock directly from the Company by, or a merger, consolidation, sale of assets or reorganization with, Philou Ventures or Ault &amp; Co., or any of its affiliates. For purposes of a Change of Control, sale, or disposition of any asset or business unit, Executive shall be entitled to a success fee and the foregoing definition of Change of Control shall apply to the described events as they relate to such asset or business unit.

Named Entities:
191
195
Act
201
204
Percentage
355
362
Ratio

Tokenized Text:
(
f
)
Change
of
Control
.
Upon
the
occurrence
of
a
Change
of
Control
,
the
Company
shall
pay
or
provide
to
the
Executive
(
or
,
following
his
death
,
to
the
Executives
heirs
,
administrators
or
executors
)
an
amount
equal
to
four
(
4
)
times
the
Separation
Payment
amount
set
forth
in
Section
6
(
b
)
hereof
,
without
regard
to
whether
Executive
continues
in
the
employ
of
the
Company
or
its
successor
.
The
Company
shall
deduct
,
from
all
payments
made
hereunder
,
all
applicable
taxes
,
including
income
tax
,
FICA
and
FUTA
,
and
other
appropriate
deductions
.
For
purposes
of
this
Agreement
,
Change
of
Control
shall
mean
the
occurrence
of
any
one
or
more
of
the
following
:
(
i
)
the
accumulation
(
if
over
time
,
in
any
consecutive
twelve
(
12
)
month
period
)
,
whether
directly
,
indirectly
,
beneficially
or
of
record
,
by
any
individual
,
entity
or
group
(
within
the
meaning
of
Section
13
(
d
)
(
3
)
or
14
(
d
)
(
2
)
of
the
Securities
Exchange
Act
of
1934
,
as
amended
)
of
50
.
1
%
or
more
of
the
shares
of
the
outstanding
Common
Stock
of
the
Company
,
whether
by
merger
,
consolidation
,
sale
or
other
transfer
of
shares
of
Common
Stock
(
other
than
a
merger
or
consolidation
where
the
stockholders
of
the
Company
prior
to
the
merger
or
consolidation
are
the
holders
of
a
majority
of
the
voting
securities
of
the
entity
that
survives
such
merger
or
consolidation
)
,
(
ii
)
a
sale
of
all
or
substantially
all
of
the
assets
of
the
Company
or
(
iii
)
in
the
sole
and
absolute
discretion
of
the
Executive
,
during
any
period
of
twelve
(
12
)
consecutive
months
,
the
individuals
who
,
at
the
beginning
of
such
period
,
constitute
the
Board
,
and
any
new
director
whose
election
by
the
Board
or
nomination
for
election
by
the
Companys
stockholders
was
approved
by
a
vote
of
at
least
two
-
thirds
(
2
/
3
)
of
the
directors
then
still
in
office
who
either
were
directors
at
the
beginning
of
the
12
-
month
period
or
whose
election
or
nomination
for
election
was
previously
so
approved
,
cease
for
any
reason
to
constitute
at
least
a
majority
of
the
Board
;
provided
,
however
,
that
the
following
acquisitions
shall
not
constitute
a
Change
of
Control
for
the
purposes
of
this
Agreement
:
(
A
)
any
acquisitions
of
Common
Stock
or
securities
convertible
,
exercisable
or
exchangeable
into
Common
Stock
directly
from
the
Company
or
from
any
affiliate
of
the
Company
,
(
B
)
any
acquisition
of
Common
Stock
or
securities
convertible
,
exercisable
or
exchangeable
into
Common
Stock
by
any
employee
benefit
plan
(
or
related
trust
)
sponsored
by
or
maintained
by
the
Company
,
or
(
C
)
any
acquisitions
of
Common
Stock
or
securities
convertible
,
exercisable
or
exchangeable
into
Common
Stock
directly
from
the
Company
by
,
or
a
merger
,
consolidation
,
sale
of
assets
or
reorganization
with
,
Philou
Ventures
or
Ault
&
amp
;
Co
.
,
or
any
of
its
affiliates
.
For
purposes
of
a
Change
of
Control
,
sale
,
or
disposition
of
any
asset
or
business
unit
,
Executive
shall
be
entitled
to
a
success
fee
and
the
foregoing
definition
of
Change
of
Control
shall
apply
to
the
described
events
as
they
relate
to
such
asset
or
business
unit
.