Common use of Independent Board Clause in Contracts

Independent Board. As of the date of this Agreement, the Board of Directors of the Company consists of three independent directors. At Closing, following the Merger, the Board of Directors of the Company shall consist of five directors, three of whom shall be independent. As of the date of this Agreement, the Audit and Compensation Committees of the Board of Directors of the Company are comprised, and at the Closing will be comprised, of independent directors.

Independent Board. As of the date of this Agreement, the Board of Directors of the Company consists of three independent directorsa minimum of five directors with a majority being independent. At the Closing, following the Merger, the Board of Directors of the Company shall consist of five directors, three of whom shall be independent. As of the date of this Agreement, the Audit and Compensation Committees of the Board of Directors of the Company are comprised, and at the Closing will be comprised, of independent directors.

Independent Board. As of At the date of this AgreementClosing, the Board board of Directors of the Company consists of three independent directors. At Closing, following the Merger, the Board of Directors directors of the Company shall consist of five directors, three of whom shall be independent. As , as defined under the regulation of the date of this AgreementNasdaq Stock Market, the Audit and Compensation Committees a majority of the Board members of Directors the audit and compensation committees of the board of directors of the Company are comprised, and at the Closing will be comprised, comprised of independent directors.

Independent Board. As of the date of this Agreement, the Board of Directors of the Company consists of three four directors with a majority being independent directorsas defined by the NASD. At the Closing, following the Merger, the Board of Directors of the Company shall consist of five four directors, three of whom shall be independent. As of the date of this Agreement, the Audit and Compensation Committees of the Board of Directors of the Company are comprisedare, and at the Closing will be comprisedbe, comprised of independent directors.

Independent Board. As of the date of this Agreement, the Board of Directors of the Company consists of three a minimum of five directors with a majority being independent directorsas defined by the NASD. At the Closing, following the Merger, the Board of Directors of the Company shall consist of five Seven directors, three four of whom shall be independent. As of the date of this Agreement, the Audit and Compensation Committees of the Board of Directors of the Company are comprised, and at the Closing will be comprised, of independent directors.