Common use of Board Matters Clause in Contracts

Board Matters. Unless otherwise determined by the vote of a majority of the directors then in office, the Board of Directors shall meet in person or by video conference or teleconference at least quarterly in accordance with an agreed-upon schedule. The Company shall reimburse the directors for all reasonable and actual out-of-pocket travel expenses incurred (consistent with the Company’s travel policy) in connection with attending meetings of the Board of Directors. The Company shall cause to be established, as soon as practicable after the request of the Preferred Directors, and will maintain, an audit and compensation committee, each of which shall consist solely of non-management directors. The Preferred Directors shall be entitled in such persons’ discretion to be a member of any Board of Directors committee established from time to time.

Board Matters. Unless otherwise determined by the vote of a majority of the directors then in office, the Board of Directors shall meet in person or by video conference or teleconference at least quarterly in accordance with an agreed-upon schedule. The Company shall reimburse the directors and the Observers for all reasonable and actual out-of-pocket travel expenses incurred (consistent with the Company’s travel policy) in connection with attending meetings of the Board of DirectorsDirectors and each committee thereof. The Company shall cause to be established, as soon as practicable after the request of the Preferred Directorssuch request, and will maintain, an audit and compensation committee, each of which shall consist solely of non-management directors. The Each Preferred Directors Director shall be entitled in such persons’ person’s discretion to be a member of any all committees of the Board of Directors committee established from time to timeDirectors.

Board Matters. Unless otherwise determined by the vote of a majority of the directors then in office, the Board of Directors shall meet in person or by video conference or teleconference at least quarterly in accordance with an agreed-upon schedule. The Company shall reimburse the nonemployee directors for all reasonable and actual out-of-pocket travel expenses incurred (consistent with the Company’s travel policy) in connection with attending meetings of the Board of Directors. The Company shall may cause to be established, as soon as practicable after the request of the Preferred Directors, and will maintain, established an audit and compensation committee, each of which shall consist solely of non-management directors. The Each Preferred Directors Director shall be entitled in such persons’ person’s discretion to be a member of any Board of Directors committee established from time to timecommittee.

Board Matters. Unless otherwise determined by the vote of a majority of the directors then in office, the Board of Directors shall meet in person or by video conference or teleconference at least quarterly in accordance with an agreed-upon schedule. The Company shall reimburse the nonemployee directors for all reasonable and actual out-of-pocket travel expenses (including business class travel expenses not to exceed $5,000 for each director for each attendance of a meeting of the Board of Directors) incurred (consistent with the Company’s travel policy) in connection with attending meetings of the Board of Directors. The Company shall cause to be established, as soon as practicable after the request of the Preferred Directors, and will maintain, an audit and compensation committee, each of which shall consist solely of Each non-management directors. The Preferred Directors employee director shall be entitled in such persons’ person’s discretion to be a member of any committee of the Board of Directors committee established from time to timeDirectors.

Board Matters. Unless otherwise determined by the vote of a majority of the directors then in office, the Board of Directors shall meet in person or by video conference or teleconference at least quarterly in accordance with an agreed-upon schedule. The Company shall reimburse the nonemployee directors for all reasonable and actual out-of-pocket travel expenses incurred (consistent with the Company’s travel policy) in connection with attending meetings of the Board of Directors. The Company shall cause to be established, as soon as practicable after the request of the Preferred Directorssuch request, and will maintain, an audit and compensation committee, each of which shall consist solely of non-management directorsinclude at least one Preferred Director. The Each Preferred Directors Director shall be entitled in such persons’ person’s discretion to be a member of any Board of Directors committee established from time to timeor subcommittee.