Common use of Board Observer; Executive Management Committee Clause in Contracts

Board Observer; Executive Management Committee. 5.17.1. Xxxxxx Xxxxxx, as of the Closing, shall be designated as a nonvoting observer on the Intek Board of Directors and will be entitled to attend Board meetings. Observer status on the Intek Board of Directors will terminate if the Acorn Key Shareholders sell more than fifty percent (50%) of their Intek Shares or upon an IPO of Intek's securities, or upon an Intek Change in Control. 5.17.2. Xxxxxx Xxxxxx and Xxxxx Xxxxxx, as of the closing, shall be designated members of the Intek Executive Management Committee ("EMC") and will be entitled to participate in EMC meetings. Solely at the discretion of Intek's Chief Executive Officer, EMC participation may terminate if the Acorn Key Shareholders sell more than fifty percent (50%) of their Intek Shares, upon Intek Change in Control or if the individual ceases being an Acorn employee. 5.17.3. The above rights shall terminate as to any person who has been terminated as an Acorn employee for Cause (as defined in the Employment Agreement), or who has violated the confidentiality, non-compete or another material term of this Agreement. CONFIDENTIAL TREATMENT OF REDACTED PORTIONS APPLIED FOR

Board Observer; Executive Management Committee. 5.17.1. Xxxxxx Xxxxxx, as of the Closing, shall be designated as a nonvoting observer on the Intek Board of Directors and will be entitled to attend Board meetings. Observer status on the Intek Board of Directors will terminate if the Acorn Key Shareholders sell more than fifty percent (50%) of their Intek Shares or upon an IPO of Intek's securities, or upon an Intek Change in Control. 5.17.2. Xxxxxx Xxxxxx and Xxxxx Xxxxxx, as of the closing, shall be designated members of the Intek Executive Management Committee ("EMC") and will be entitled to participate in EMC meetings. Solely at the discretion of IntekXxxxx's Chief Executive Officer, EMC participation may terminate if the Acorn Key Shareholders sell more than fifty percent (50%) of their Intek Shares, upon Intek Change in Control or if the individual ceases being an Acorn employee. 5.17.3. The above rights shall terminate as to any person who has been terminated as an Acorn employee for Cause (as defined in the Employment Agreement), or who has violated the confidentiality, non-compete or another material term of this Agreement. CONFIDENTIAL TREATMENT OF REDACTED PORTIONS APPLIED FOR

Board Observer; Executive Management Committee. 5.17.1. Xxxxxx Xxxxxx, as of the Closing, shall be designated as a nonvoting observer on the Intek Etinuum Board of Directors and will be entitled to attend Board meetings. Observer status on the Intek Etinuum Board of Directors will terminate if the Acorn Key Shareholders sell more than fifty percent (50%) of their Intek Shares Common Stock after exercise of their Options or upon an IPO of IntekEtinuum's securities, or upon an Intek Etinuum Change in Control. 5.17.2. Xxxxxx Xxxxxx and Xxxxx Xxxxxx, as of the closing, shall be designated members of the Intek Etinuum Executive Management Committee ("EMC") and will be entitled to participate in EMC meetings. Solely at the discretion of IntekEtinuum's Chief Executive Officer, EMC participation may terminate if the Acorn Key Shareholders sell more than fifty percent (50%) of their Intek SharesCommon Stock after exercise of their Options, upon Intek Etinuum Change in Control or if the individual ceases being an Acorn employee. 5.17.3. The above rights shall terminate as to any person who has been terminated as an Acorn employee for Cause (as defined in the Employment Agreement), or who has violated the confidentiality, non-compete or another material term of this Amended and Restated Agreement. CONFIDENTIAL TREATMENT OF REDACTED PORTIONS APPLIED FOR.