Document ID: 11635

Text:
6.5 Change In Control. For purposes of this Employment Agreement, a Change in Control shall be deemed to have occurred if (i) there shall be consummated (A) any consolidation or merger of the Company in which the Company is not the continuing or surviving corporation or pursuant to which shares of the Companys Common Stock would be converted into cash, securities or other property, other than a merger of the Company in which the holders of the Companys Common Stock immediately prior to the merger have substantially the same proportionate ownership of common stock of the surviving corporation immediately after the merger, or (B) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all the assets of the Company, or (ii) the stockholders of the Company shall approve any plan or proposal for the liquidation or dissolution of the Company, or (iii) any person (as such term is used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934 (the Exchange Act)), other than the Company, the Employee or any Employee benefit plan sponsored by the Company, or such person on the Effective Date hereof is a 20% or more beneficial owner, shall become the beneficial owner (within the meaning of Rule 13d-3 under the Exchange Act) of securities of the Company representing 30% or more of the combined voting power of the Companys then outstanding securities ordinarily (and apart from rights accruing in special circumstances) having the right to vote in the election of directors, as a result of a tender or exchange offer, open market purchases, privately negotiated purchases or otherwise, or (iv) at any time during a period of two consecutive years, individuals who at the beginning of such period, constituted the Board of Directors of the Company shall cease for any reason to constitute at least a majority thereof, unless the election or the nomination for election by the Companys stockholders of each new director during such two-year period was approved by a vote of at least two-thirds of the directors then still in office, who were directors at the beginning of such two-year period.

Named Entities:
200
204
Act
239
240
Percentage
256
257
Regulation
269
270
Percentage
399
399
Percentage

Tokenized Text:
6
.
5
Change
In
Control
.
For
purposes
of
this
Employment
Agreement
,
a
Change
in
Control
shall
be
deemed
to
have
occurred
if
(
i
)
there
shall
be
consummated
(
A
)
any
consolidation
or
merger
of
the
Company
in
which
the
Company
is
not
the
continuing
or
surviving
corporation
or
pursuant
to
which
shares
of
the
Companys
Common
Stock
would
be
converted
into
cash
,
securities
or
other
property
,
other
than
a
merger
of
the
Company
in
which
the
holders
of
the
Companys
Common
Stock
immediately
prior
to
the
merger
have
substantially
the
same
proportionate
ownership
of
common
stock
of
the
surviving
corporation
immediately
after
the
merger
,
or
(
B
)
any
sale
,
lease
,
exchange
or
other
transfer
(
in
one
transaction
or
a
series
of
related
transactions
)
of
all
or
substantially
all
the
assets
of
the
Company
,
or
(
ii
)
the
stockholders
of
the
Company
shall
approve
any
plan
or
proposal
for
the
liquidation
or
dissolution
of
the
Company
,
or
(
iii
)
any
person
(
as
such
term
is
used
in
Sections
13
(
d
)
and
14
(
d
)
(
2
)
of
the
Securities
Exchange
Act
of
1934
(
the
Exchange
Act
)
)
,
other
than
the
Company
,
the
Employee
or
any
Employee
benefit
plan
sponsored
by
the
Company
,
or
such
person
on
the
Effective
Date
hereof
is
a
20
%
or
more
beneficial
owner
,
shall
become
the
beneficial
owner
(
within
the
meaning
of
Rule
13d-3
under
the
Exchange
Act
)
of
securities
of
the
Company
representing
30
%
or
more
of
the
combined
voting
power
of
the
Companys
then
outstanding
securities
ordinarily
(
and
apart
from
rights
accruing
in
special
circumstances
)
having
the
right
to
vote
in
the
election
of
directors
,
as
a
result
of
a
tender
or
exchange
offer
,
open
market
purchases
,
privately
negotiated
purchases
or
otherwise
,
or
(
iv
)
at
any
time
during
a
period
of
two
consecutive
years
,
individuals
who
at
the
beginning
of
such
period
,
constituted
the
Board
of
Directors
of
the
Company
shall
cease
for
any
reason
to
constitute
at
least
a
majority
thereof
,
unless
the
election
or
the
nomination
for
election
by
the
Companys
stockholders
of
each
new
director
during
such
two-year
period
was
approved
by
a
vote
of
at
least
two-thirds
of
the
directors
then
still
in
office
,
who
were
directors
at
the
beginning
of
such
two-year
period
.