Common use of CHANGE OF MAJORITY OWNERSHIP Clause in Contracts

CHANGE OF MAJORITY OWNERSHIP. If, during the term of this Agreement, the majority ownership of the stock of the Company and/or the Manager's employer changes, this Agreement shall terminate, and Manager will receive all or any remaining portion of an Award Payable from the Company, on or before December 31 of the year in which such change of ownership is consummated. If the Change of Ownership occurs during the Performance Period, the Award Payable will be determined using an amended Cash Flow Threshold which proportionally adjusts the factors to be utilized in calculating the Award Payable. For purposes of this Paragraph 7 and Paragraph 8 below, a transfer of stock ownership from a person or entity which was a shareholder on the date of this Agreement (a "current shareholder") to a person or entity which is (a) controlled by or under common control with a current shareholder, (b) a family member of a current shareholder, or (c) a trust, partnership or other entity of which a current shareholder or a family member of a current shareholder is either a grantor, trustee, beneficiary, owner or holder of an equity or beneficial interest, will not constitute a Change of Majority Ownership of the Company or, if applicable, the Manager's employer.

CHANGE OF MAJORITY OWNERSHIP. If, during the term of this Agreement, the majority ownership of the stock of the Company and/or the Manager's employer changes, this Agreement shall terminate, and Manager will receive all or any remaining portion of an Award Payable from the Company, on or before December 31 of the year in which such change of ownership is consummated. If the Change of Ownership occurs during the Performance Period, the Award Payable will be determined terminated using an amended Cash Flow Threshold which proportionally adjusts the factors to be utilized in calculating the Award Payable. For purposes of this Paragraph 7 and Paragraph 8 below, a transfer of stock ownership from a person or entity which was a shareholder on the date of this Agreement (a "current shareholder") to a person or entity which is (a) controlled by or under common control with a current shareholder, (b) a family member of a current shareholder, or (c) a trust, partnership or other entity of which a current shareholder or a family member of a current shareholder is either a grantor, trustee, beneficiary, owner or holder of an equity or beneficial interest, will not constitute a Change of Majority Ownership of the Company Company, the Employer or, if applicable, the Manager's employer.

CHANGE OF MAJORITY OWNERSHIP. If, during the term of this Agreement, the majority ownership of the stock of the Company and/or the Manager's employer changes, this Agreement shall terminate, and Manager will receive all or any remaining portion of an Award Payable from the Company, on or before December 31 of the year in which such change of ownership is consummated. If the Change of Ownership occurs during the Performance Period, the Award Payable will be determined using an amended Cash Flow flow Threshold which proportionally adjusts the factors to be utilized in calculating the Award Payable. For purposes of this Paragraph 7 and Paragraph 8 below, a transfer a.transfer of stock ownership from a person or entity which was a shareholder on the date of this Agreement (a "current shareholder") to a person or entity which is (a) controlled by or under common control with a current shareholder, (b) a family member of a current shareholder, or (c) a trust, partnership or other entity of which a current shareholder or a family member of a current shareholder is either a grantor, trustee, beneficiary, owner or holder of an equity or beneficial interest, will not constitute a Change of Majority Ownership of the Company Company, the Employer or, if applicable, the Manager's employer.

CHANGE OF MAJORITY OWNERSHIP. If, during the term of this Agreement, the majority ownership of the stock of the Company and/or the Manager's employer changes, this Agreement shall terminate, and Manager will receive all or any remaining portion of an Award Payable from the Company, on or before December 31 of the year in which such change of ownership is consummated. If the Change of Ownership occurs during the Performance Period, the Award Payable will be determined using an amended Cash Flow Threshold which proportionally adjusts the factors to be utilized in calculating the Award Payable. For purposes of this Paragraph 7 and Paragraph 8 below, a transfer a.transfer of stock ownership from a person or entity which was a shareholder on the date of this Agreement (a "current shareholder") to a person or entity which is (a) controlled by or under common control with a current shareholder, (b) a family member of a current shareholder, or (c) a trust, partnership or other entity of which a current shareholder or a family member of a current shareholder is either a grantor, trustee, beneficiary, owner or holder of an equity or beneficial interest, will not constitute a Change of Majority Ownership of the Company Company, the Employer or, if applicable, the Manager's employer.