Common use of Number, Qualification and Term of Office of Directors Clause in Contracts

Number, Qualification and Term of Office of Directors. The number of Directors which shall constitute the whole Board of Directors shall be three at the time of the execution of this Agreement and shall be increased to seven within one year of completion of the IPO. The vacancies on the Board of Directors that result from the increase in the authorized number of Directors following completion of the IPO shall, subject to the Class B Shareholders Agreement, be filled by individuals selected by a majority of the Directors then in office, who shall also specify the class to which each newly appointed Director belongs. After completion of the IPO, the number of Directors which shall constitute the whole Board of Directors shall be determined from time to time by resolution adopted by a majority of the Board of Directors then in office, provided that for so long as the Class B Shareholder Committee shall have the right to designate nominees to the Board of Directors under the Class B Shareholders Agreement, the number of Directors may not be increased beyond seven without the Consent of the Class B Shareholder Committee. The Directors shall be divided into three classes, designated Class I, Class II and Class III. Each class shall consist, as nearly as may be possible, of one-third of the total number of Directors constituting the whole Board of Directors. At the time of the execution of this Agreement, the Class I Director shall be Xxxx Xxxxx, the Class II Director shall be Xxxxx Xxxxxxxxx, and the Class III Director shall be Xxxxxx Xxx. At the time of the execution of this Agreement, the Class I Directors shall have a term expiring at the 2008 annual meeting of Members, the Class II Directors shall have a term expiring at the 2009 annual meeting of Members, and the Class III Directors shall have a term expiring at the 2010 annual meeting of Members. Each Director shall hold office until his successor is elected or appointed and qualified, or until his or her earlier death, resignation or removal.

Number, Qualification and Term of Office of Directors. The number of Directors which shall constitute the whole Board of Directors shall be three five at the time of the execution of this Agreement (or six if Investor elects to nominate a director pursuant to the Investor Shareholder Agreement) and shall be increased to seven within one year of eleven upon completion of the IPO. The vacancies on the Board of Directors that result from the increase in the authorized number of Directors following upon completion of the IPO shall, subject to the Class B Shareholders Agreement, shall be filled by individuals selected by a majority of the Directors then in office, who shall also specify the class to which each newly appointed Director belongs. After completion of the IPO, the number of Directors which shall constitute the whole Board of Directors shall be determined from time to time by resolution adopted by a majority of the Board of Directors then in office, provided that that, after the completion of the IPO and for so long as the Class B Shareholder Committee Principals shall have the right to designate nominees to the Board of Directors under the Class B Shareholders Agreement, the number of Directors may not be increased beyond seven without the Consent of the Class B Shareholder CommitteePrincipals. The Directors shall be divided into three classes, designated Class I, Class II and Class III. Each class shall consist, as nearly as may be possible, of one-third of the total number of Directors constituting the whole Board of Directors. At the time of the execution of this Agreement, the Class I Director Directors shall be Xxxx Xxxxx, the Class II Director shall be Xxxxx Xxxxxxxxx, and the Class III Director shall be Xxxxxx Xxx. At the time of the execution of this Agreement, the Class I Directors shall have a term expiring at the 2008 annual meeting of MembersRxxxxx Xxxxxxx, the Class II Directors shall have a term expiring at the 2009 annual meeting of Membersbe Rxxxxx X. Xxxxxxxx and Mxxxxxx X. Xxxxxxxxx, and the Class III Directors shall have a term expiring at the 2010 annual meeting of Members. Each Director shall hold office until his successor is elected or appointed and qualified, or until his or her earlier death, resignation or removal.be Wxxxxx X.

Number, Qualification and Term of Office of Directors. The number of Directors which shall constitute the whole Board of Directors shall be three at the time of the execution of this Agreement and shall be increased to seven within one year of upon completion of the IPO. The vacancies on the Board of Directors that result from the increase in the authorized number of Directors following upon completion of the IPO shall, subject to the Class B Shareholders Agreement, shall be filled by individuals selected by a majority of the Directors then in office, who shall also specify the class to which each newly appointed Director belongs. After completion of the IPO, the number of Directors which shall constitute the whole Board of Directors shall be determined from time to time by resolution adopted by a majority of the Board of Directors then in office, provided that that, after the completion of the IPO and for so long as the Class B Shareholder Committee New Fortress Holdings shall have the right to designate nominees to the Board of Directors under the Class B Shareholders Agreement, the number of Directors may not be increased beyond seven without the Consent consent of the Class B Shareholder CommitteeNew Fortress Holdings. The Directors shall be divided into three classes, designated Class I, Class II and Class III. Each class shall consist, as nearly as may be possible, of one-third of the total number of Directors constituting the whole Board of Directors. At the time of the execution of this Agreement, the Class I Director Directors shall be Xxxx Xxxxx, the Class II Director Directors shall be Xxxxx Xxxxxxxxxand , and the Class III Director Directors shall be Xxxxxx Xxxand . At the time of the execution of this Agreement, the Class I Directors shall have a term expiring at the 2008 2020 annual meeting of Members, the Class II Directors shall have a term expiring at the 2009 2021 annual meeting of Members, and the Class III Directors shall have a term expiring at the 2010 2022 annual meeting of Members. Each Director shall hold office until his successor is elected or appointed and qualified, or until his or her earlier death, resignation or removal.

Number, Qualification and Term of Office of Directors. The number of Directors which shall constitute the whole Board of Directors shall be three five at the time of the execution of this Agreement (or six if Investor elects to nominate a director pursuant to the Investor Shareholder Agreement) and shall be increased to seven within one year of eleven upon completion of the IPO. The vacancies on the Board of Directors that result from the increase in the authorized number of Directors following upon completion of the IPO shall, subject to the Class B Shareholders Agreement, shall be filled by individuals selected by a majority of the Directors then in office, who shall also specify the class to which each newly appointed Director belongs. After completion of the IPO, the number of Directors which shall constitute the whole Board of Directors shall be determined from time to time by resolution adopted by a majority of the Board of Directors then in office, provided that for so long as that, after the Class B Shareholder Committee shall have completion of the right to designate nominees to the Board of Directors under the Class B Shareholders AgreementIPO, the number of Directors may not be increased beyond seven without the Consent affirmative vote or consent of the Class B Shareholder Committeeholders of a Share Majority. The Directors shall be divided into three classes, designated Class I, Class II and Class III. Each class shall consist, as nearly as may be possible, of one-third of the total number of Directors constituting the whole Board of Directors. At the time of the execution of this Agreement, the Class I Director shall be Xxxx Xxxxx, the Class II Director shall be Xxxxx Xxxxxxxxx, and the Class III Director Directors shall be Xxxxxx Xxx. At the time of the execution of this Agreement, the Class I Directors shall have a term expiring at the 2008 annual meeting of MembersXxxxxxx, the Class II Directors shall have a term expiring at the 2009 annual meeting of Membersbe Xxxxxx X. Xxxxxxxx and Xxxxxxx X. Xxxxxxxxx, and the Class III Directors shall have a term expiring at the 2010 annual meeting of Members. Each Director shall hold office until his successor is elected or appointed and qualified, or until his or her earlier death, resignation or removal.be Xxxxxx X.

Number, Qualification and Term of Office of Directors. The number of Directors which shall constitute the whole Board of Directors shall be three five at the time of the execution of this Agreement (or six if Investor elects to nominate a director pursuant to the Investor Shareholder Agreement) and shall be increased to seven within one year of eleven upon completion of the IPO. The vacancies on the Board of Directors that result from the increase in the authorized number of Directors following upon completion of the IPO shall, subject to the Class B Shareholders Agreement, shall be filled by individuals selected by a majority of the Directors then in office, who shall also specify the class to which each newly appointed Director belongs. After completion of the IPO, the number of Directors which shall constitute the whole Board of Directors shall be determined from time to time by resolution adopted by a majority of the Board of Directors then in office, provided that that, after the completion of the IPO and for so long as the Class B Shareholder Committee Principals shall have the right to designate nominees to the Board of Directors under the Class B Shareholders Agreement, the number of Directors may not be increased beyond seven without the Consent of the Class B Shareholder CommitteePrincipals. The Directors shall be divided into three classes, designated Class I, Class II and Class III. Each class shall consist, as nearly as may be possible, of one-third of the total number of Directors constituting the whole Board of Directors. At the time of the execution of this Agreement, the Class I Director shall be Xxxx Xxxxx, the Class II Director shall be Xxxxx Xxxxxxxxx, and the Class III Director Directors shall be Xxxxxx Xxx. At the time of the execution of this Agreement, the Class I Directors shall have a term expiring at the 2008 annual meeting of MembersXxxxxxx, the Class II Directors shall have a term expiring at the 2009 annual meeting of Membersbe Xxxxxx X. Xxxxxxxx and Xxxxxxx X. Xxxxxxxxx, and the Class III Directors shall have a term expiring at the 2010 annual meeting of Members. Each Director shall hold office until his successor is elected or appointed and qualified, or until his or her earlier death, resignation or removal.be Xxxxxx X.

Number, Qualification and Term of Office of Directors. The number of Directors which shall constitute constitutes the whole Board of Directors shall be three is eight at the time of the execution of this Agreement and shall be increased to seven within one year of upon completion of the IPO. The vacancies on the Board of Directors that result from the increase in the authorized number of Directors following completion of the IPO shall, subject to the Class B Shareholders Agreement, be filled by individuals selected by a majority of the Directors then in office, who shall also specify the class to which each newly appointed Director belongs. After completion of the IPO, the number of Directors which shall constitute the whole Board of Directors shall be determined from time to time by resolution adopted by a majority of the Board of Directors then in office, provided that that, after the completion of the IPO and for so long as the Class B Shareholder Committee New Fortress Holdings shall have the right to designate nominees to the Board of Directors under the Class B Shareholders Agreement, the number of Directors may not be increased beyond seven without the Consent consent of the Class B Shareholder CommitteeNew Fortress Holdings. The Directors shall be divided into three classes, designated Class I, Class II and Class III. Each class shall consist, as nearly as may be possible, of one-third of the total number of Directors constituting the whole Board of Directors. At the time of the execution of this Agreement, the Class I Director Directors shall be Xxxx XxxxxKxxxxxxxx X. Xxxxxx and Mxxxxxx Xxxxxxxxx, the Class II Director Directors shall be Xxxxx XxxxxxxxxDxxxx X. Grain and C. Wxxxxxx Xxxxxxx, and the Class III Director Directors shall be Xxxxxx XxxWxxxxx X. Xxxxx, Rxxxxx X. Xxxxxxx and Jxxx X. Xxxx. At the time of the execution of this Agreement, the Class I Directors shall have a term expiring at the 2008 2020 annual meeting of Members, the Class II Directors shall have a term expiring at the 2009 2021 annual meeting of Members, and the Class III Directors shall have a term expiring at the 2010 2022 annual meeting of Members. Each Director shall hold office until his successor is elected or appointed and qualified, or until his or her earlier death, resignation or removal.