Monster amends ‘change of control’ definition in credit agreement

By Tali Rackner

Norfolk, Va., April 28 – Monster Worldwide, Inc. amended its third amended and restated credit agreement on April 23, according to an 8-K filing with the Securities and Exchange Commission.

The amendment modifies the definition of “change of control” in the credit agreement so that directors approved by the incumbent directors in connection with an actual or threatened proxy contest will no longer be treated as non-continuing directors for purposes of determining whether a change of control has occurred as a result of a majority of the board of directors failing to be composed of continuing directors.

Bank of America, NA is the administrative agent.

No other material terms of the agreement were changed.

New York-based Monster is an online and mobile employment services company.

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