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 a three directors with a majority being independent as defined by the NASD. Within 30 days of Closing, 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 a three directors with a majority being independent as defined by directors. At Closing, following the NASD. Within 30 days of ClosingMerger, 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 a three minimum of five directors with a majority being independent as defined by the NASD. Within 30 days of At the Closing, 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.

Independent Board. As of the date of this Agreement, the Board of Directors of the Company consists of a three four directors with a majority being independent as defined by the NASD. Within 30 days of At the Closing, 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 a three directors with a majority being independent as defined by the NASD. Within Not later than 30 days of after the Closing, the Board of Directors of the Company shall consist of five directors, three of whom shall be independent. As independent as such term is defined in Rule 4200(a)(15) promulgated by the National Association of Securities Dealers, Inc. (the date “NASD”).. Not later than 30 days after the Closing Date of this Agreement, the Board of Directors shall have an 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.