Examples of Grandfathered Percentage in a sentence
Any person or group that owned 5% or more of the Class B Stock outstanding on April 22, 1992 (a "Grandfathered Person") will not be an Acquiring Person unless the percentage of outstanding shares of Class B Stock owned by that Grandfathered Person subsequently exceeds twice the percentage owned on April 22, 1992, plus an additional 1% (the "Grandfathered Percentage").
However, in the event that any Grandfathered Person sells, transfers or otherwise disposes of any outstanding shares of Common Stock, the Grandfathered Percentage will become the lesser of the Grandfathered Percentage as in effect immediately prior to such transfer, or the percentage of outstanding shares of Common Stock that such Grandfathered Person beneficially owns immediately following such sale, transfer or disposition, plus an additional 1%.
The maximum aggregate cash value, determined as of the date of grant, of any Performance Unit Awards and Cash-Based Awards granted to any one Employee, singly or in combination, during any one Fiscal Year shall be $10,000,000.
Any person who wishes to effect any acquisition of shares of Common Stock that would, if consummated, result in such person beneficially owning 4.99% or more of the then outstanding shares of Common Stock (or, in the case of a Grandfathered Person, the Grandfathered Percentage), may request that the Board grant an exemption with respect to such acquisition under the Rights Agreement.