Common use of Classified Board Clause in Contracts

Classified Board. (i) The Board shall be divided into three (3) classes of directors as follows: (A) the initial class I directors shall include Xxxxxxxx X. Xxxxx, Xxxxxxx Xxxxxxx and Xxxxx X. Xxxxxxx, (B) the initial class II directors shall include Xxxxxx X. Xxxxxxx, Xxxx Xxxxxxxx and Xxxxxx Xxxxx, and (C) the initial class III directors shall include Xxxxx X. Xxxxx, Xxxxxx X. XxXxxxxx and Xxxx Xxxxxxxxxxxx. (ii) The initial term of the class I directors shall expire at the first annual meeting of the stockholders following the date hereof at which directors are elected. The initial term of the class II directors shall expire at the second annual meeting of the stockholders following the date hereof at which directors are elected. The initial term of the class III directors shall expire at the third annual meeting of the stockholders following the date hereof at which directors are elected. Following the expiration of the initial term of any class of directors, all subsequent terms of such class shall be for a period of three (3) years.

Classified Board. (i) The Board shall be divided into three (3) classes of directors as follows: : (A) the initial class I directors shall include Xxxxxxxx X. Xxxxx, Xxxxxxx Xxxxxxx and Xxxxx X. Xxxxxxx, (B) the initial class II directors shall include Xxxxxx X. Xxxxxxx, Xxxx Xxxxxxxx and Xxxxxx Xxxxx, and (C) the initial class III directors shall include Xxxxx X. Xxxxx, Xxxxxx X. XxXxxxxx and Xxxx Xxxxxxxxxxxx. (ii) The initial term of the class I directors shall expire at the first annual meeting of the stockholders following the date hereof at which directors are elected. The initial term of the class II directors shall expire at the second annual meeting of the stockholders following the date hereof at which directors are elected. The initial term of the class III directors shall expire at the third annual meeting of the stockholders following the date hereof at which directors are elected. Following the expiration of the initial term of any class of directors, all subsequent terms of such class shall be for a period of three (3) years.

Classified Board. (i) The Board shall be divided into three (3) classes of directors as follows: (A) the initial class I directors shall include Xxxxxxxx Xxxxx X. Xxxxx, Xxxxxxxxxxx Xxxxx and Xxxxxxx Xxxxxxx and Xxxxx X. XxxxxxxXxxxxx, Xx., (B) the initial class II directors shall include Xxxxxx Xxxxx Xxxx, Xxxxx X. Xxxxxxx, Xxxx Xxxxxxxx Xxxxxxx and Xxxxxx XxxxxXxx X. Xxxx, and (C) the initial class III directors shall include Xxxxx Xxxxxxxxx Xxxxxx, Xxxx X. Xxxxx, Xxxxxx Xxxxxxxxxx and Xxxxxxx X. XxXxxxxx and Xxxx XxxxxxxxxxxxXxxxxxxx. (ii) The initial term of the class I directors shall expire at the first annual meeting of the stockholders following the date hereof at which directors are elected. The initial term of the class II directors shall expire at the second annual meeting of the stockholders following the date hereof at which directors are elected. The initial term of the class III directors shall expire at the third annual meeting of the stockholders following the date hereof at which directors are elected. Following the expiration of the initial term of any class of directors, all subsequent terms of such class shall be for a period of three (3) years.