Limited events. Change in Control means only the following events under Section 1.06 (choose one or two of (i), (ii) and (iii)): ☐ (i) Change in ownership of the Employer. ☐ (ii) Change in the effective control of the Employer. ☐ (iii) Change in the ownership of a substantial portion of the Employer’s assets. ☒ (d) (Specify): For the purposes of Sections 3.02(e) and 4.01(b)(ii) of the Adoption Agreement, Change in Control means all events under Section 1.06 except transfers of stock made on account of death, gifts, transfers of stock between family members or the acquisition by any qualified retirement plan sponsored by South Plans Financial, Inc. shall not be considered in determining whether there has been a Change of Control.
Appears in 2 contracts
Sources: Nonqualified Deferred Compensation Plan Adoption Agreement (South Plains Financial, Inc.), Deferred Compensation Plan Adoption Agreement (South Plains Financial, Inc.)