"Control transferor", the person or persons who exercise control, including the power to hire and fire, before a contested meeting date; provided, however, that such person or persons are a registered corporation subject to subsection (b) of section 8.06 of chapter 156D and are subject to a contested meeting.
"Control transferee", the person or persons who assume control following a transfer of control as defined herein.
"Control transferor", the person or persons who exercise control, including the power to hire and fire, before a contested meeting date; provided, however, that such person or persons are a registered corporation subject to the provisions of paragraph (a) of section 50A of chapter one hundred and fifty-six B and are subject to a contested meeting.
"Contested meeting date", the date any contested meeting takes place.
"Contested meeting", a contested meeting for the election of directors of a registered corporation, the purpose of which contest is to facilitate an acquisition of 50% or more of the outstanding voting securities of the registered corporation.
"Employee", any person employed for hire by an employer in any lawful employment.
"Registered corporation", any corporation subject to subsection (b) of section 8.06 of chapter 156D which has a class of voting stock registered under the Securities Exchange Act of 1934, as amended, hereinafter referred to as the "act"; provided, however, that if a corporation is subject to subsection (a) of such section 8.06 at the time it ceases to have any class of voting stock so registered, such corporation shall nonetheless be deemed to be a registered corporation for a period of 12 months following the date it ceased to have such stock so registered.
"Termination of employment", the involuntary termination of an employee's employment consistent with the eligibility standards for unemployment benefits under section twenty-five of chapter one hundred and fifty-one A.
"Transfer of control", a transaction or series of transactions as a result of which any person, as such term is used in sections 13(d) and 14(d) of the act, is or becomes the "beneficial owner", as defined in Rule 13d-3 under the act, directly or indirectly, of securities of a control transferor representing fifty percent or more of the control transferor's then outstanding voting securities; provided, however, that a change in control will not be deemed to have occurred solely because of the acquisition of securities of a control transferor, or any reporting requirement under the act relating thereto, by an employee benefit plan maintained by the control transferor for its employees.
"Weekly compensation", an employee's base compensation in effect on the last payroll period ending prior to the contested meeting.
"Year of service", each full year during which the employee has been employed by the control transferor as defined herein.
Mass. Gen. Laws ch. 149, § 184