Change in Ownership. A Change in Ownership occurs if a person, or a group of persons acting together, acquires more than fifty percent (50%) of the stock of the corporation, measured by voting power or value. Incremental increases in ownership by a person or group that already owns fifty percent (50%) of the corporation do not result in a Change of Ownership, as defined in Treasury Regulations §1.409A-3(i)(5)(v).
Appears in 35 contracts
Samples: Supplemental Executive Retirement Plan (Community Financial Corp /Md/), Supplemental Executive Retirement Plan (Southern National Bancorp of Virginia Inc), Supplemental Executive Retirement Plan (Southern National Bancorp of Virginia Inc)
Change in Ownership. A Change in Ownership occurs if a person, or a group of persons acting together, acquires more than fifty percent (50%) of the stock of the corporationPlan Sponsor, measured by voting power or value. Incremental increases in ownership by a person or group that already owns fifty percent (50%) of the corporation Plan Sponsor do not result in a Change of Ownership, as defined in Treasury Regulations §1.409A-3(i)(5)(v).
Appears in 5 contracts
Samples: Supplemental Compensation Agreement (Valley Commerce Bancorp), Supplemental Compensation Agreement (Valley Commerce Bancorp), Supplemental Compensation Agreement (Valley Commerce Bancorp)
Change in Ownership. A Change in Ownership occurs if a person, or a group of persons acting together, acquires more than fifty percent (50%) of the stock of the corporation, measured by voting power or value. Incremental increases in ownership by a person or group that already owns fifty percent (50%) of the corporation do not result in a Change of Ownership, as defined in Treasury Regulations §1.409A-3(i)(5)(v).. Exhibit 10.41
Appears in 1 contract
Samples: Continuation Plan Agreement (Old Line Bancshares Inc)
