Independent Board. As of the date of this Agreement, the Board of Directors of the Company consists of a minimum of five directors with a majority being independent. At the Closing, the Board of Directors of the Company shall consist of five directors, three of whom shall be independent.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Sun New Media Inc.), Stock Purchase Agreement (Sun New Media Inc.)
Independent Board. As of the date of this Agreement, the Board of Directors of the Company consists of a minimum of five directors with a majority being independent. At the Closing, the Board board of Directors directors of the Company shall consist of five directors, three of whom shall be independent, as defined under the regulation of the Nasdaq Stock Market, and a majority of the members of the audit and compensation committees of the board of directors of the Company will be comprised of independent directors.
Appears in 2 contracts
Samples: Preferred Stock Purchase Agreement (Lounsberry Holdings Ii Inc), Preferred Stock Purchase Agreement (Techprecision Corp)
