Example ContractsClausesChange in Ownership of a Substantial Portion of the Company’s Assets
Change in Ownership of a Substantial Portion of the Company’s Assets
Change in Ownership of a Substantial Portion of the Company’s Assets contract clause examples

Qualified Change-in-Control Defined. For purposes hereof, aQualified Change-in-Control” means a Change-in-Control that qualifies as a change in ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company, within the meaning of Code Section 409A(a)(2)(A)(v) and the regulations promulgated thereunder.

Change in Control” shall mean aChange in Ownership,” “Change in Effective Control,” or “Change in Ownership of a Substantial Portion of Assets,” as defined by Treasury Regulation 1.409A-3(i)(5), except a Change in Effective Control shall not be considered to have occurred for purposes of this Plan unless there had been at least a35 percentchange in equity ownership (rather than the30 percent” threshold provided for in the regulation).

Change in Control” means a change in the ownership or effective control of the Company or the Affiliate that employs you, or in the ownership of a substantial portion of the assets of the Company or the Affiliate that employs you within the meaning of Treas. Reg. [section 1.409A-3(i)(5)])] as determined by the Company.]

provided, however, that as applied to any [[Unknown Identifier]] Award that is designated to be paid or settled upon a Change in Control, no transaction will constitute a Change in Control unless it constitutes a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of its assets, in each case within meaning of Section 409A of the Code.

Notwithstanding the preceding provisions, an event or series of events shall not constitute a Change of Control unless the event or series of events qualifies as a change in the ownership or effective control of the corporation or in the ownership of a substantial portion of the assets of the corporation within the meaning of Code Section 409A(a)(2)(A)(v).

Deferred Compensation. Notwithstanding the forgoing provisions of this Section 6, if the Option constitutes deferred compensation within the meaning of Code Section 409A, no payment or settlement of the Option shall be made pursuant to [Section 4.2(b) or (c)])], unless the Corporate Transaction or the dissolution or liquidation of the Company, as applicable, constitutes a change in ownership of the Company or a substantial portion of its assets within the meaning of Treasury Regulation Section 1.409A-3(i)(5) or (vii), or change in effective control of the Company within the meaning of Treasury Regulation Section 1.409A(3)(i)(5)(vi)..

Notwithstanding the forgoing, with respect to any payment or benefit treated as deferred compensation subject to Section 409A, the vesting rules set forth in Section 7.7(a) shall continue to apply. However, unless the Change of Control also constitutes a change in ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company (in accordance with Section 409A and Treasury Regulation Section 1.409A-3(i)(5)), then although vested and nonforfeitable, the payment or benefit shall, to the extent necessary to avoid the imposition of additional taxes and/or penalties under Section 409A(a)(1), be paid based on the normal form of timing rules applicable to the payment of such severance payment or benefit in accordance with Section 7.2.

transaction or series of transactions continue to have substantially the same proportionate ownership in an entity which owns substantially all of the assets of the Company immediately prior to such transaction or series of transactions and # no Change in Control shall be deemed to have occurred upon the acquisition of additional control of the Company by any person that is considered to effectively control the Company. In no event will a Change in Control be deemed to have occurred if any Participant is part of a “group” within the meaning of Section 13(d)(3) of the Exchange Act that effects a Change in Control. Notwithstanding the foregoing or any provision of any Award Agreement to the contrary, for any Award that provides for accelerated distribution on a Change in Control of amounts that constitute “deferred compensation” (as defined in Section 409A of the Code), if the event that constitutes such Change in Control does not also constitute a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the Company’s assets (in either case, as defined in Section 409A of the Code), such amount shall not be distributed on such Change in Control but instead shall vest as of such Change in Control and shall be distributed on the scheduled payment date specified in the applicable Award Agreement, except to the extent that earlier distribution would not result in the Participant who holds such Award incurring interest or additional tax under Section 409A of the Code.

Notwithstanding the foregoing, however, in any circumstance or transaction in which compensation payable pursuant to the Plan would be subject to the income tax under the [Section 409A] Rules if the foregoing definition ofChange in Control” were to apply, but would not be so subject if the term “Change in Control” were defined herein to mean achange in the ownership or effective control of a corporation or a change in the ownership of a substantial portion of the assets of a corporation” within the meaning of Treasury Regulation § 1.409A-3(i)(5), then “Change in Control” means, but only to the extent necessary to prevent such compensation from becoming subject to the income tax under the [Section 409A] Rules, a transaction or circumstance that satisfies the requirements of both (1) a Change in Control under the applicable [clause (i) through (iv) above], and (2) a change in control event under Treasury Regulation Section § 1.409A-3(i)(5).

if the Change of Control hereunder is also achange in ownership,” achange in effective control” or achange in the ownership of a substantial portion of the assetsof the Company within the meaning of Code Section 409A, any compensation previously deferred by the Executive (together with any accrued interest or earnings thereon) including, without limitation, compensation, bonus, incentive compensation or awards deferred under the NextEra Energy, Inc. Deferred Compensation Plan or incentive compensation or awards deferred under the FPL Group, Inc. Long-Term Incentive Plan of 1985, the FPL Group, Inc. Long-Term Incentive Plan of 1994, or pursuant to any individual deferral agreement; provided that, for the avoidance of doubt, if the Change of Control hereunder is not any such event within the meaning of Code Section 409A, payment of the foregoing amounts shall be made as soon practicable consistent with Code Section 409A;

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