Change in Effective Control of Valmont

Change in Effective Control of Valmont. A 'Change in Effective Control of Valmont' occurs on the date that either: (i) Any one person or entity, or more than one person or entity acting as a Group, acquires or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person, entity or Group ownership of stock of Valmont possessing thirty-five percent (35%) or more of the total voting power of the stock of Valmont; or (ii) A majority of the members of Valmont's board of directors is... replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of Valmont's board of directors prior to the date of the appointment or election. View More