Common use of Committee for Review Clause in Contracts

Committee for Review. The Board shall, on an annual basis, appoint a Committee for Review (“CFR”) as a sub-committee of the ROC. The CFR will be responsible for reviewing the disciplinary decisions on behalf of the Board of Directors; reviewing determinations to limit or prohibit the continued listing of an issuer's securities on the exchange operated by the Company; and acting in an advisory capacity to the Board with respect to disciplinary matters, the listing and delisting of securities, regulatory programs, rulemaking, and regulatory rules, including trading rules. The CFR will be comprised of both Directors of the Company that satisfy the independence requirements for Directors of the Company as well as persons who are not Directors; provided, however, that a majority of the members of the CFR voting on a matter subject to a vote of the CFR must be Directors of the Company. Among the persons on the CFR who are not Directors, there will be included at least one individual from each of the following categories: (i) individuals who are associated with a Member Organization that engages in a business involving substantial direct contact with securities customers, (ii) individuals who are associated with a Member Organization and registered as a DMM, and (iii) individuals who are associated with a Member Organization and have as a substantial part of their business the execution of transactions on the trading floor of the Company for other than their own account or the account of his or her Member Organization, but are not registered as a DMM. The Board will appoint such individuals associated with Member Organizations.

Committee for Review. The Board shall, on an annual basis, appoint a Committee for Review (“CFR”) as a sub-committee of the ROC. The CFR will be responsible for reviewing the disciplinary decisions on behalf of the Board of Directors; reviewing determinations to limit or prohibit the continued listing of an issuer's securities on the exchange operated by the Company; and acting in an advisory capacity to the Board with respect to disciplinary matters, the listing and delisting of securities, regulatory programs, rulemaking, and regulatory rules, including trading rules. The CFR will be comprised of both Directors of the Company that satisfy the independence requirements for Directors of the Company as well as persons who are not Directors; provided, however, that a majority of the members of the CFR voting on a matter subject to a vote of the CFR must be Directors of the Company. Among the persons on the CFR who are not Directors, there will be included at least one individual from each of the following categories: (i) individuals who are associated with a Member Organization that engages in a business involving substantial direct contact with securities customers, (ii) individuals who are associated with a Member Organization and registered as a DMMDMM or specialist, and (iii) individuals who are associated with a Member Organization and have as a substantial part of their business the execution of transactions on the trading floor of the Company for other than their own account or the account of his or her Member Organization, but are not registered as a DMMDMM or specialist. The Board will appoint such individuals associated with Member Organizations.

Committee for Review. The Board shall, on an annual basis, appoint a Committee for Review (“CFR”) as a sub-committee of the ROC. The CFR will be responsible for reviewing the disciplinary decisions on behalf of the Board of Directors; reviewing determinations to limit or prohibit the continued listing of an issuer's securities on the exchange operated by the CompanyExchange; and acting in an advisory capacity to the Board with respect to disciplinary matters, the listing and delisting of securities, regulatory programs, rulemaking, and regulatory rules, including trading rules. The CFR will be comprised of both Directors of the Company that satisfy the independence requirements for Directors of the Company as well as persons who are not Directors; provided, however, that a majority of the members of the CFR voting on a matter subject to a vote of the CFR must be Directors of the Company. Among the persons on the CFR who are not Directors, there will be included at least one individual from each of the following categories: (i) individuals who are associated with a Member Organization that engages in a business involving substantial direct contact with securities customers, (ii) individuals who are associated with a Member Organization and registered as a DMM, and (iii) individuals who are associated with a Member Organization and have as a substantial part of their business the execution of transactions on the trading floor of the Company for other than their own account or the account of his or her Member Organization, but are not registered as a DMM. The Board will appoint such individuals associated with Member Organizations.

Committee for Review. The Board shall, on an annual basis, appoint a Committee for Review (“CFR”) as a sub-committee of the ROC. The CFR will be responsible for reviewing the disciplinary decisions on behalf of the Board of Directors; reviewing determinations to limit or prohibit the continued listing of an issuer's securities on the exchange operated by the CompanyExchange; and acting in an advisory capacity to the Board with respect to disciplinary matters, the listing and delisting of securities, regulatory programs, rulemaking, and regulatory rules, including trading rules. The CFR will be comprised of both Directors of the Company that satisfy the independence requirements for Directors of the Company as well as persons who are not Directors; provided, however, that a majority of the members of the CFR voting on a matter subject to a vote of the CFR must be Directors of the Company. Among the persons on the CFR who are not Directors, there will be included at least one individual from each of the following categories: (i) individuals who are associated with a Member Organization that engages in a business involving substantial direct contact with securities customers, (ii) individuals who are associated with a Member Organization and registered as a DMMDMM or specialist, and (iii) individuals who are associated with a Member Organization and have as a substantial part of their business the execution of transactions on the trading floor of the Company for other than their own account or the account of his or her Member Organization, but are not registered as a DMMDMM or specialist. The Board will appoint such individuals associated with Member Organizations.