Common use of Exception for Certain Acquisitions of Stock Clause in Contracts

Exception for Certain Acquisitions of Stock. Section 3.1 (a) shall not include the acquisition of beneficial ownership of Common Stock or other voting securities of the Company (a) by the Company or any employee benefit plan (or related trust) sponsored or maintained by the Company or any entity controlled by the Company. (b) by Alfr▇▇ ▇. ▇▇▇▇, (c) by any person or entity as a result of the death of Mr. ▇▇▇▇ if the shares acquired were beneficially owned by Mr. ▇▇▇▇ ▇▇▇ediately before his death; or (d) by any person or entity during Mr. ▇▇▇▇'▇ ▇▇▇etime if the shares acquired were beneficially owned by Mr. ▇▇▇▇ ▇▇▇ediately prior to their acquisition and the acquisition is a charitable contribution or a transfer to a trust, partnership, corporation or other entity in which Mr. ▇▇▇▇'▇ ▇▇▇ily and/or any charity or charities own a majority of the beneficial interests.

Appears in 5 contracts

Sources: Change of Control Agreement (Minimed Inc), Change of Control Agreement (Minimed Inc), Change of Control Agreement (Minimed Inc)

Exception for Certain Acquisitions of Stock. Section 3.1 (a) shall not include the acquisition of beneficial ownership of Common Stock or other voting securities of the Company (a) by the Company or any employee benefit plan (or related trust) sponsored or maintained by the Company or any entity controlled by the Company. (b) by Alfr▇▇ ▇. ▇▇▇▇, (c) by any person or entity as a result of the death of Mr. ▇▇▇▇ if ▇▇ the shares acquired were beneficially owned by Mr. ▇▇▇▇ ▇▇▇ediately before his death; or (d) by any person or entity during Mr. ▇▇▇▇'▇ ▇▇▇etime if the shares acquired were beneficially owned by Mr. ▇▇▇▇ ▇▇▇ediately prior to their acquisition and the acquisition is a charitable contribution or a transfer to a trust, partnership, corporation or other entity in which Mr. ▇▇▇▇'▇ ▇▇▇ily family and/or any charity or charities own a majority of the beneficial interests.

Appears in 2 contracts

Sources: Change of Control Agreement (Minimed Inc), Change of Control Agreement (Minimed Inc)