Change of Control Multiple definition

Change of Control Multiple has the meaning given to such term in Section 1.06 hereof.

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Change of Control Multiple means, with respect to any Plan Participant, “Change of Control Multiple” as defined in such Plan Participant’s Employment Agreement.

Change of Control Multiple means two times (2x) the outstanding principal balance of this Note. A “Change of Control” means (i) a merger or consolidation in which (x) the Company is a constituent party or (y) a subsidiary of the Company is a constituent party and the Company issues shares of its capital stock pursuant to such merger or consolidation, except any such merger or consolidation involving the Company or a subsidiary in which the shares of capital stock of the Company outstanding immediately prior to such merger or consolidation continue to represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such merger or consolidation, a majority, by voting power, of the capital stock of (1) the surviving or resulting corporation or (2) if the surviving or resulting corporation is a wholly-owned subsidiary of another corporation immediately following such merger or consolidation, the parent corporation of such surviving or resulting corporation, (ii) the sale by the stockholders of the Company, in a single transaction or series of related transactions, of capital stock representing at least 50% of the outstanding voting power of the Company, or (iii) the sale, lease, transfer, exclusive license (but for clarity excluding any exclusive license in a specific field of use entered into in the ordinary course of business) or other disposition, in a single transaction or series of related transactions, by the Company or any subsidiary of the Company of all or substantially all the assets of the Company and its subsidiaries taken as a whole, or the sale or disposition (whether by merger, consolidation or otherwise) of one or more subsidiaries of the Company if substantially all of the assets of the Company and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a wholly owned subsidiary of the Company; provided that a Change of Control shall not include any transaction or series of related transactions principally for bona fide equity financing purposes (including, but not limited to, the Qualified Financing) in which cash is received by the Company or any successor or indebtedness of the Company is cancelled or converted or a combination thereof occurs. The Company shall notify Lender in writing of the anticipated occurrence of a Change of Control at least five days prior to the closing date of the Change of Control. |

Examples of Change of Control Multiple in a sentence

For purposes of Section 4(a) of the Severance Plan, "Payout Period" will be 1.88 and "Severance Multiple" will be 1.88, and for purposes of Section 4(b) of the Severance Plan, "Change of Control Multiple" will be 1.88.
If any Plan Participant’s employment with a member of the Company Group is terminated by such Person other than for Cause or if any Plan Participant resigns from employment with such Person for Good Reason, in each case, within one year after a Change of Control, such Plan Participant shall receive a lump sum cash payment in an amount equal to the product of (x) the Change of Control Multiple and (y) Base Salary (the “Change of Control Payment”).
If there is a Change of Control (as defined below) of the Company prior to the conversion of this Note for any reason, the Company shall pay to Lender, upon the closing of the Change of Control and in full satisfaction of this Note, the Change of Control Multiple (as defined below).
For purposes of Section 4(a) of the Severance Plan, "Payout Period" will be 2.03 and "Severance Multiple" will be 2.03, and for purposes of Section 4(b) of the Severance Plan, "Change of Control Multiple" will be 2.03.
Max two (2) Executive Physical: Annual physical at a cost of up to $3,000 Severance Period: Six (6) months Change of Control Multiple: Two times (for total Severance Period of twelve (12) months) Number of Employee: ▇▇▇▇ ▇.
A lump sum cash payment in an amount equal to the sum of the Employer’s portion of the annual premium for medical, dental and vision benefit coverage for the Participant and his or her eligible dependents in effect immediately prior to the date of the Participant’s Covered Termination multiplied by the Participant’s Change of Control Multiple.
For purposes of Section 4(a) of the Severance Plan, "Payout Period" will be 2.03 and "Severance Multiple" will be 2.03, and for purposes of Section 4(b) of the Severance Plan, "Change of Control Multiple" will be 2.70.
A lump sum cash payment in an amount equal to the Participant’s Compensation multiplied by the Participant’s Change of Control Multiple, subject to applicable withholding for income and employment taxes.
For purposes of Section 4(a) of the Severance Plan, "Payout Period" will be 2.70 and "Severance Multiple" will be 2.70, and for purposes of Section 4(b) of the Severance Plan, "Change of Control Multiple" will be 3.38.
For purposes of Section 4(a) of the Severance Plan, "Payout Period" will be 1.95 and "Severance Multiple" will be 1.95, and for purposes of Section 4(b) of the Severance Plan, "Change of Control Multiple" will be 1.95.

More Definitions of Change of Control Multiple

Change of Control Multiple means, with respect to any Plan Participant, "Change of Control Multiple" as defined in such Plan Participant's Employment Agreement.