Change In Control Agreement管理权变更协议-7

-9-ChangeInControlAgreement管理权变更协议核心提示：THISAGREEMENT,datedasofthe[SEEATTACHEDSCHEDULEA],isbyandbetweenAAACORPORATION,a_________corporation(hereinafterreferredtoastheCOMPANY),and[SEEATTACHEDSCHEDULEA](hereinaftertheEXECUTIVE).RECITALSA.TheBoardofDirecTHISAGREEMENT,datedasofthe[SEEATTACHEDSCHEDULEA],isbyandbetweenAAACORPORATION,a_________corporation(hereinafterreferredtoastheCOMPANY),and[SEEATTACHEDSCHEDULEA](hereinaftertheEXECUTIVE).RECITALSA.TheBoardofDirectorsoftheCompany(theBOARD)considersitessentialtothebestinterestsoftheCompanyanditsstockholdersthatitskeymanagementpersonnelbeencouragedtoremainwiththeCompanyanditssubsidiariesandtocontinuetodevotefullattentiontotheCompany’sbusinessintheeventthatanythirdpersonexpressesitsintentiontocompleteapossiblebusinesscombinationwiththeCompany,orintakinganyotheractionwhichcouldresultinaCHANGEINCONTROL(asdefinedherein)oftheCompany.Inthisconnection,theBoardrecognizesthatthepossibilityofaChangeinControlandtheuncertaintyandquestionswhichitmayraiseamongmanagementmayresultinthedepartureordistractionofkeymanagementpersonneltothedetrimentoftheCompanyanditsstockholders.TheBoardhasdeterminedthatappropriatestepsshouldbetakentoreinforceandencouragethecontinuedattentionanddedicationofkeymembersoftheCompany’smanagementtotheirassigneddutieswithoutdistractioninthefaceofthepotentiallydisturbingcircumstancesarisingfromthepossibilityofaChangeinControloftheCompany.B.TheExecutivecurrentlyservesastheCompany’s[SEEATTACHEDSCHEDULEA],andherservicesandknowledgearevaluabletotheCompanyinconnectionwiththemanagementofitsbusiness.C.TheBoardbelievestheExecutivehasmadeandisexpectedtocontinuetomakevaluablecontributionstotheproductivityandprofitabilityoftheCompanyanditssubsidiaries.ShouldtheCompanyreceiveaproposalfromathirdpersonconcerningapossiblebusinesscombinationoranyotheractionwhichcouldresultinaChangeinControl,inadditiontotheExecutive’sregularduties,theExecutivemaybecalledupontoassistintheassessmentofsuchproposal,advisemanagementandtheBoardastowhethersuchproposalwouldbeinthebestinterestsoftheCompanyanditsstockholders,andtotakesuchotheractionsastheBoardmightdeterminetobenecessaryorappropriate.D.ShouldtheCompanyreceiveanyproposalfromathirdpersonconcerningapossiblebusinesscombinationoranyotheractionwhichcouldresultinachangeincontroloftheCompany,theBoardbelievesitimperativethattheCompanyandtheBoardbeabletorelyupontheExecutivetocontinueinherposition,andthattheCompanyandtheBoardbeabletoreceiveandrelyuponheradvice,ifsorequested,astothebestinterestsoftheCompanyanditsstockholderswithoutconcernthatshemightbedistractedbythepersonaluncertaintiesandriskscreatedbysuchaproposal,andtoencourageExecutive’sfullattentionanddedicationtotheCompany.E.TheCompanyandtheExecutivearepartiestothatcertainChangeinControlAgreementdated[SEEATTACHEDSCHEDULEA](thePRIORCICAGREEMENT).F.TheCompanyandtheExecutivedesiretoterminatethePriorCICAgreement(andanypredecessorchangeincontrolagreements)andtoenterintothisAgreementuponthetermsandsubjecttotheconditionshereinaftersetforth.TERMSANDCONDITIONSNOW,THEREFORE,toassuretheCompanyanditssubsidiariesthatitwillhavethecontinued,undividedattention,dedicationandservicesoftheExecutiveandtheavailabilityoftheExecutive’sadviceandcounselnotwithstandingthepossibility,threatoroccurrenceofaChangeinControloftheCompany,andtoinducetheExecutivetoremainintheemployoftheCompanyanditssubsidiaries,andforothergoodandvaluableconsideration,theadequacyandsufficiencyofwhichareherebyacknowledged,theCompanyandtheExecutiveagreeasfollows.1.CHANGEINCONTROL(a)ForpurposesofthisAgreement,aCHANGEINCONTROLoftheCompanyshallbedeemedtohaveoccurredupon(i)theacquisitionatanytimebyaPERSONorGROUP(asthattermisusedinSections13(d)and14(d)(2)oftheSecuritiesExchangeActof1934,asamended(theEXCHANGEACT))(excluding,forthispurpose,theCompanyoranyofitssubsidiaries,anyemployeebenefitplanoftheCompanyoranyofitssubsidiaries,anunderwritertemporarilyholdingsecuritiespursuanttosuchsecurities,oracorporationowned,directlyorindirectly,bythestockholdersoftheCompanyinsubstantiallythesameproportionsastheirownershipofstockoftheCompany)ofbeneficialownership(asdefinedinRule13d-3undertheExchangeAct)directlyorindirectly,ofsecuritiesrepresenting25%ormoreofthecombinedvotingpowerintheelectionofdirectorsofthethen-outstandingsecuritiesoftheCompanyoranysuccessoroftheCompany;(ii)theterminationofserviceasdirectors,foranyreasonotherthandeath,disabilityorretirementfromtheBoard,duringanyperiodoftwoconsecutiveyearsorless,ofindividualswhoatthebeginningofsuchperiodconstitutedamajorityoftheBoard,unlesstheelectionofornominationforelectionofeachnewdirectorduringsuchperiodwasapprovedbyavoteofatleasttwo-thirdsofthedirectorsstillinofficewhoweredirectorsatthebeginningoftheperiod;(iii)approvalbythestockholdersoftheCompanyofliquidationoftheCompany;(iv)approvalbythestockholdersoftheCompanyandconsummationofanysaleordisposition,orseriesofrelatedsalesordispositions,of50%ormoreoftheassetsorearningpoweroftheCompany;or(v)approvalbythestockholdersoftheCompanyandconsummationofanymergerorconsolidationorstatutoryshareexchangetowhichtheCompanyisapartyasaresultofwhichthepersonswhowerestockholdersoftheCompanyimmediatelypriortotheeffectivedateofthemergerorconsolidationorstatutoryshareexchangeshallhavebeneficialownershipoflessthan50%ofthecombinedvotingpowerintheelectionofdirectorsofthesurvivingcorporationfollowingtheeffectivedateofsuchmergerorconsolidationorstatutoryshareexchange.(b)Notwithstandinganythingherein,noacquisitionofbeneficialownershipofsecuritiesoftheCompany,merger,saleofassetsorothertransactionshallbedeemedtoconstituteaChangeinControlforpurposesofthisAgreementifsuchtransactionconstitutesaMANAGEMENTAPPROVEDTRANSACTION.ForpurposesofthisAgreement,aMANAGEMENTAPPROVEDTRANSACTIONshallbeanytransaction,whichwouldotherwiseresultinaChangeinControlforpurposesofthisAgreementinwhichtheacquiringPERSON,GROUPorotherentityiseitherbeneficiallyownedby,orcomprisedof,inwholeorinpart,threeormoremembersoftheCompany’sexecutivemanagement,assuchwasconstitutedtwelvemonthspriortosuchtransaction,orismajorityownedby,orcomprisedof,anyemployeebenefitplanoftheCompany.2.ADJUSTMENTOFBENEFITSUPONCHANGEINCONTROL(a)TheCompanyagreesthattheCompensationCommitteeoftheBoard,orsuchothercommitteesucceedingtosuchcommittee’sresponsibilitieswithrespecttoexecutivecompensation(collectively,theCOMPENSATIONCOMMITTEE)maymakesuchequitableadjustmentstoanyperformancetargetscontainedinanyawardsundertheCompany