Common use of Potential Change in Control Clause in Contracts

Potential Change in Control. A "Potential Change in Control" of the Company shall be deemed to have occurred if: (a) the Company enters into an agreement, the consummation of which would result in the occurrence of a Change in Control; (b) any person (including the Company) publicly announces an intention to take or to consider taking actions which if consummated would constitute a Change in Control; (c) any person becomes the beneficial owner, directly or indirectly, of securities of the Company representing twenty-five percent (25%) or more of the combined voting power of the Company's then outstanding securities; or (d) the Board adopts a resolution to the effect that, for the purposes of this Agreement, a "Potential Change in Control" of the Company has occurred.

Appears in 5 contracts

Sources: Employment Agreement (Medtox Scientific Inc), Employment Agreement (Medtox Scientific Inc), Employment Agreement (Medtox Scientific Inc)

Potential Change in Control. A "Potential Change in Control" of the Company shall be deemed to have occurred if: (a) the Company enters into an agreement, the consummation of which would result in the occurrence of a Change in Control; (b) any person (including the Company) publicly announces an intention to take or to consider taking actions which if consummated would constitute a Change in Control; (c) any person becomes the beneficial owner, directly or indirectly, of securities of the Company representing twenty-five ten percent (2510%) or more of the combined voting power of the Company's then outstanding securities; or (d) the Board adopts a resolution to the effect that, for the purposes of this Agreement, a "Potential Change in Control" of the Company has occurred.

Appears in 4 contracts

Sources: Employment Agreement (Medtox Scientific Inc), Employment Agreement (Medtox Scientific Inc), Employment Agreement (Medtox Scientific Inc)

Potential Change in Control. A "Potential Change in Control" of the Company shall be deemed to have occurred if: (a) the Company enters into an agreement, the consummation of which would result in the occurrence of a Change in Control; (b) any person (including the Company) publicly announces an intention to take or to consider taking actions which if consummated would constitute a Change in Control; (c) any person becomes the beneficial owner, directly or indirectly, of securities of the Company representing twenty-five ten percent (2510%) or more of the combined voting power of the Company's ’s then outstanding securities; or (d) the Board adopts a resolution to the effect that, for the purposes of this Agreement, a "Potential Change in Control" of the Company has occurred.

Appears in 1 contract

Sources: Employment Agreement (Medtox Scientific Inc)