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 (Southern National Bancorp of Virginia Inc), 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)
