Common use of LICK Clause in Contracts

LICK. Fred Xxxk, Jr. until the earlier to occur of (A) December 31, 1999, (B) termination of his employment under the Lick Employment Agreement, or (C) the first date as of which the Company does not have a class of equity securities registered under either Section 12(b) or 12(g) of the Exchange Act; PROVIDED, HOWEVER, that until the first date as of which the Company does not have a class of equity securities either registered under Section 12(b) or 12(g) of the Exchange Act, at least two of the individuals elected to the Board of Directors shall constitute Independent Directors; and PROVIDED FURTHER, that (i) none of IP, SAP or Osboxxx xxxll be required to designate an individual that constitutes an Independent Director so long as two individuals who constitute Independent Directors are nominated to serve as directors and SAP, IP and Osboxxx xxxe for their election; PROVIDED, that if the Company has cumulative voting with respect to the election of its directors, the SAP Group, IP Group and Osboxxx Xxxup shall be permitted to vote in favor of the SAP Designees, IP Designees and Osboxxx Xxxignee as provided in this Section 2.1(a) to the extent necessary to ensure the election of such Designees prior to casting any votes in favor of such Independent Directors; (ii) in the event one or two of the individuals to be designated pursuant to the foregoing provisions must constitute an Independent Director in order to meet the requirements of the immediately preceding proviso, then, first, IP shall designate as one of its designees an individual that constitutes an Independent Director, and, second, SAP shall designate as one of its designees an individual that constitutes an Independent Director.

LICK. Fred Xxxk, Jr. until the earlier to occur of (A) December 31, 1999, (B) termination of his employment under the Lick Employment Agreement, or (C) the first date as of which the Company does not have a class of equity securities registered under either Section 12(b) or 12(g) of the Exchange Act; PROVIDED, HOWEVER, that until the first date as of which the Company does not have a class of equity securities either registered under Section 12(b) or 12(g) of the Exchange Act, at least two of the individuals elected to the Board of Directors shall constitute Independent Directors; and PROVIDED FURTHER, that (i) none of IP, SAP or Osboxxx xxxll be required to designate an individual that constitutes an Independent Director so long as two individuals who constitute Independent Directors are nominated to serve as directors and SAP, IP and Osboxxx xxxe for their election; PROVIDED, that if the Company has cumulative voting with respect to the election of its directors, the SAP Group, IP 4 \ Group and Osboxxx Xxxup shall be permitted to vote in favor of the SAP Designees, IP Designees and Osboxxx Xxxignee as provided in this Section 2.1(a) to the extent necessary to ensure the election of such Designees prior to casting any votes in favor of such Independent Directors; (ii) in the event one or two of the individuals to be designated pursuant to the foregoing provisions must constitute an Independent Director in order to meet the requirements of the immediately preceding proviso, then, first, IP shall designate as one of its designees an individual that constitutes an Independent Director, and, second, SAP shall designate as one of its designees an individual that constitutes an Independent Director.

LICK. Fred Xxxk, Jr. until the earlier to occur of (A) December 31, 1999, (B) termination of his employment under the Lick Employment Agreement, or (C) the first date as of which the Company does not have a class of equity securities registered under either Section 12(b) or 12(g) of the Exchange Act; PROVIDEDprovided, HOWEVERhowever, that until the first date as of which the Company does not have a class of equity securities either registered under Section 12(b) or 12(g) of the Exchange Act, at least two of the individuals elected to the Board of Directors shall constitute Independent Directors; and PROVIDED FURTHERprovided further, that (i) none of IP, SAP or Osboxxx xxxll be required to designate an individual that constitutes an Independent Director so long as two individuals who constitute Independent Directors are nominated to serve as directors and SAP, IP and Osboxxx xxxe for their election; PROVIDEDprovided, that if the Company has cumulative voting with respect to the election of its directors, the SAP Group, IP Group and Osboxxx Xxxup shall be permitted to vote in favor of the SAP Designees, IP Designees and Osboxxx Xxxignee as provided in this Section 2.1(a) to the extent necessary to ensure the election of such Designees prior to casting any votes in favor of such Independent Directors; (ii) in the event one or two of the individuals to be designated pursuant to the foregoing provisions must constitute an Independent Director in order to meet the requirements of the immediately preceding proviso, then, first, IP shall designate as one of its designees an individual that constitutes an Independent Director, and, second, SAP shall designate as one of its designees an individual that constitutes an Independent Director.

LICK. Fred Xxxk, Jr. until the earlier to occur of (A) December 31, 1999, (B) termination of his employment under the Lick Employment Agreement, or (C) the first date as of which the Company does not have a class of equity securities registered under either Section 12(b) or 12(g) of the Exchange Act; PROVIDED, HOWEVER, that until the first date as of which the Company does not have a class of equity securities either registered under Section 12(b) or 12(g) of the Exchange Act, at least two of the individuals elected to the Board of Directors shall constitute Independent Directors; and PROVIDED FURTHER, that (i) none of IP, SAP or Osboxxx xxxll be required to designate an individual that constitutes an Independent Director so long as two individuals who constitute Independent Directors are nominated to serve as directors and SAP, IP and Osboxxx xxxe for their election; PROVIDED, that if the Company has cumulative voting with respect to the election of its directors, the SAP GroupSAP, IP Group and Osboxxx Xxxup shall xxxll be permitted to vote in favor of the SAP Designees, IP Designees and Osboxxx Xxxignee as provided in this Section 2.1(a) to the extent necessary to ensure the election of such Designees prior to casting any votes in favor of such Independent Directors; (ii) in the event one or two of the individuals to be designated pursuant to the foregoing provisions must constitute an Independent Director in order to meet the requirements of the immediately preceding proviso, then, first, IP shall designate as one of its designees an individual that constitutes an Independent Director, and, second, SAP shall designate as one of its designees an individual that constitutes an Independent Director.