Executive Committee Composition. The Company agrees that the executive committee of the Board of Directors (the "Executive Committee") shall consist of no more than seven members, including (i) for so long as the Purchasers are entitled to designate members to the Board of Directors, the Series G Director Designees or Designee of the Purchasers, (ii) the Chairman of the Board of Directors, (iii) the Chief Executive Officer of the Company and (iv) the Chief Operating Officer of the Company. The bylaws of the Company shall be amended to reflect the composition of the executive committee. The FL Purchasers agree to vote their FL Securities for the approval of a bylaw amendment adopting the provisions of this Section.
Appears in 2 contracts
Samples: Purchase Agreement (Forstmann Little & Co Sub Debt & Eq MGMT Buyout Par Vii Lp), Purchase Agreement (McLeodusa Inc)
Executive Committee Composition. The Company agrees that the executive committee of the Board of Directors (the "Executive Committee") shall consist of no more than seven members, including (i) for so long as the Purchasers are entitled to designate members to the Board of Directors, the Series G Director Designees or Designee of the Purchasers' Directors, (ii) the Chairman of the Board of Directors, (iii) the Chief Executive Officer of the Company and (iv) the Chief Operating Officer of the Company. The bylaws of the Company shall be amended to reflect the composition of the executive committee. The FL Purchasers agree to vote their FL Securities for the approval of a bylaw amendment adopting the provisions of this Section.
Appears in 2 contracts
Samples: And Restated Purchase Agreement (Forstmann Little & Co Sub Debt & Eq MGMT Buyout Par Vii Lp), And Restated Purchase Agreement (McLeodusa Inc)
