Change in the Ownership of a Corporation. A change in the ownership of a corporation occurs on the date that any one person or persons acting as a group (as defined in IRC 409A), acquires ownership of stock of the corporation that, together with stock held by such person or group, constitutes more than fifty percent (50%) of the total fair market value or total voting power of the stock of such corporation. The acquisition of additional stock by the same person or group is not considered to cause a change in the ownership of the corporation.
Appears in 12 contracts
Samples: Executive Supplemental Compensation Agreement (California BanCorp), Executive Supplemental Compensation Agreement (California BanCorp), Executive Supplemental Compensation Agreement (California BanCorp)
Change in the Ownership of a Corporation. A change in the ownership of a corporation occurs on the date that any one person or persons acting as a group (as defined in IRC Code Section 409A), acquires ownership of stock of the corporation that, together with stock held by such person or group, constitutes more than fifty percent (50%) of the total fair market value or total voting power of the stock of such corporation. The acquisition of additional stock by the same person or group is not considered to cause a change in the ownership of the corporation.
Appears in 6 contracts
Samples: Split Dollar Agreement (Columbia Banking System, Inc.), Executive Supplemental Compensation Agreement (Columbia Banking System, Inc.), Executive Supplemental Compensation Agreement (Columbia Banking System, Inc.)
Change in the Ownership of a Corporation. A change in the ownership of a corporation occurs on the date that any one person or persons more than one person acting as a group (as defined in IRC 409A)group, acquires ownership of stock of the corporation that, together with stock held by such person or group, constitutes more than fifty percent (50%) of the total fair market value or total voting power of the stock of such corporation. The acquisition of additional stock by the same person or group is not considered to cause a change in the ownership of the corporation.person
Appears in 3 contracts
Samples: Salaried Retirement Equalization Savings Program (Delphi Automotive PLC), Salaried Retirement Equalization Savings Program (Delphi Corp), Salaried Retirement Equalization Savings Program (Delphi Corp)
Change in the Ownership of a Corporation. A change in the ownership of a the corporation occurs on the date that any one person or persons acting as a group (as defined in IRC 409A), acquires ownership of stock of the corporation that, together with stock held by such person or group, constitutes more than fifty percent (50%) of the total fair market value or total voting power of the stock of such corporation. The acquisition of additional stock by the same person or group is not considered to cause a change in the ownership of the corporation.
Appears in 2 contracts
Samples: Supplemental Executive Retirement Plan (Venture Financial Group Inc), Split Dollar Life Insurance Agreement (Venture Financial Group Inc)
Change in the Ownership of a Corporation. A change in the ownership of a corporation occurs on the date that any one person or persons acting as a group (as defined in IRC 409A)group, acquires ownership of stock of the corporation that, together with stock held by such person or group, constitutes more than fifty percent (50%) of the total fair market value or total voting power of the stock of such corporation. The acquisition of additional stock by the same person or group is not considered to cause a change in the ownership of the corporation.
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