Common use of Board Appointments Clause in Contracts

Board Appointments. (a) The Company shall exercise all authority under applicable law to cause Dr. Ray Irani and Stephen I. Chazen to be appointed as directors xx xxx Xxmpany xxxxxxxxx xx xx the date hereof. The Parties agree that if either such individual is at any time unable, unwilling or not qualified to serve as a director of the Company, neither Occidental, its Subsidiaries nor any other Person shall have the right to name a substitute or to require that a different individual be appointed to the Board of Directors. (b) The Company shall exercise all authority under applicable law to cause any slate of directors presented to the stockholders of the Company for election to the Board of Directors to include both Dr. Ray Irani and Stephen I. Chazen, so long as they are qualifiex xx xxxxx, unxxx Xxxxxxxxxx xxd its Subsidiaries beneficially own in the aggregate, directly or indirectly, less than 17 million shares of Common Stock (excluding for purposes of this Section 3.3(b), shares to be issued to OCHC or its Wholly Owned Affiliates upon exercise of a Warrant), from which time until the Termination Date for Occidental and its Wholly Owned Affiliates only one of such individuals (to be determined in the sole discretion of the Company) shall be entitled to a seat on the Board of Directors.

Board Appointments. (a) The Company shall exercise all authority under applicable law to cause Dr. Ray Irani and Stephen I. Chazen to be appointed as directors of xxx Xxxxxny efxxxxxxx xx xx xxx Xxmpany xxxxxxxxx xx xx the date hereof. The Parties agree that if either such individual is at any time unable, unwilling or not qualified to serve as a director of the Company, neither Occidental, its Subsidiaries nor any other Person shall have the right to name a substitute or to require that a different individual be appointed to the Board of Directors. (b) The Company shall exercise all authority under applicable law to cause any slate of directors presented to the stockholders of the Company for election to the Board of Directors to include both Dr. Ray Irani and Stephen I. Chazen, so long as they are qualifiex xx qualified tx xxxxx, unxxx until Xxxxxxxxxx xxd its xxx xts Subsidiaries beneficially own in the aggregate, directly or indirectly, less than 17 million shares of Common Stock (excluding for purposes of this Section 3.3(b), shares to be issued to OCHC or its Wholly Owned Affiliates upon exercise of a Warrant), from which time until the Termination Date for Occidental and its Wholly Owned Affiliates only one of such individuals (to be determined in the sole discretion of the Company) shall be entitled to a seat on the Board of Directors.

Board Appointments. (a) The Company shall exercise all authority under applicable law to cause Dr. Ray Irani Xxx Xxxxx and Stephen I. Chazen Xxxxxxx X. Xxxxxx to be appointed as directors xx xxx Xxmpany xxxxxxxxx xx xx of the Company effective as of the date hereof. The Parties agree that if either such individual is at any time unable, unwilling or not qualified to serve as a director of the Company, neither Occidental, its Subsidiaries nor any other Person shall have the right to name a substitute or to require that a different individual be appointed to the Board of Directors. (b) The Company shall exercise all authority under applicable law to cause any slate of directors presented to the stockholders of the Company for election to the Board of Directors to include both Dr. Ray Irani Xxx Xxxxx and Stephen I. ChazenXxxxxxx X. Xxxxxx, so long as they are qualifiex xx xxxxxqualified to serve, unxxx Xxxxxxxxxx xxd until Occidental and its Subsidiaries beneficially own in the aggregate, directly or indirectly, less than 17 [32] million shares of Common Stock (excluding for purposes of this Section 3.3(b), shares to be issued to OCHC or its Wholly Owned Affiliates upon exercise of a Warrant), from which time until the Termination Date for Occidental and its Wholly Owned Affiliates only one of such individuals (to be determined in the sole discretion of the Company) shall be entitled to a seat on the Board of Directors.

Board Appointments. (a) The Company shall exercise all authority under applicable law to cause Dr. Ray Irani Xxx Xxxxx and Stephen I. Chazen Xxxxxxx X. Xxxxxx to be appointed as directors xx xxx Xxmpany xxxxxxxxx xx xx of the Company effective as of the date hereof. The Parties agree that if either such individual is at any time unable, unwilling or not qualified to serve as a director of the Company, neither Occidental, its Subsidiaries nor any other Person shall have the right to name a substitute or to require that a different individual be appointed to the Board of Directors. (b) The Company shall exercise all authority under applicable law to cause any slate of directors presented to the stockholders of the Company for election to the Board of Directors to include both Dr. Ray Irani Xxx Xxxxx and Stephen I. ChazenXxxxxxx X. Xxxxxx, so long as they are qualifiex xx xxxxxqualified to serve, unxxx Xxxxxxxxxx xxd until Occidental and its Subsidiaries beneficially own in the aggregate, directly or indirectly, less than 17 million shares of Common Stock (excluding for purposes of this Section 3.3(b), shares to be issued to OCHC or its Wholly Owned Affiliates upon exercise of a Warrant), from which time until the Termination Date for Occidental and its Wholly Owned Affiliates only one of such individuals (to be determined in the sole discretion of the Company) shall be entitled to a seat on the Board of Directors.