Common use of Ownership Change Clause in Contracts

Ownership Change. Any Person, other than an ERISA-regulated pension plan established by the Company or an Affiliate, makes an acquisition of Outstanding Voting Stock and is, immediately thereafter, the beneficial owner of 30% or more of the then Outstanding Voting Stock, unless such acquisition is made directly from the Company in a transaction approved by a majority of the Incumbent Directors; or any group is formed that is the beneficial owner of 30% or more of the Outstanding Voting Stock; or

Appears in 4 contracts

Samples: Severance Agreement (Reliant Energy Inc), Severance Agreement (Reliant Energy Inc), Severance Agreement (Reliant Resources Inc)

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Ownership Change. Any Person, other than an ERISA-ERISA- regulated pension plan established by the Company or an Affiliate, makes an acquisition of Outstanding Voting Stock and is, immediately thereafter, the beneficial owner of 30% or more of the then Outstanding Voting Stock, unless such acquisition is made directly from the Company in a transaction approved by a majority of the Incumbent Directors; or any group is formed that is the beneficial owner of 30% or more of the Outstanding Voting Stock; or

Appears in 1 contract

Samples: Severance Agreement (Reliant Resources Inc)

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