Common use of Parent Board of Directors Clause in Contracts

Parent Board of Directors. On or prior to the Effective Time, Parent shall take all necessary corporate action so that (a) effective as of the Effective Time, the size of the Parent Board is increased by one member to 7 members and the new seat will be allocated as a Class II director and (b) Xx. Xxxxxxxx Xxxxxxxxx, a current member of the Company Board, will be appointed to the Parent Board to fill the vacancy on the Parent Board created by such increase.

Parent Board of Directors. On or prior to the Effective Time, Parent shall take have taken all actions necessary corporate action so that (a) effective as of the Effective Time, Time (i) the size of the Board of Directors of Parent shall be increased from five to eight directors and (ii) the Company Designees shall be elected as members of the Board of Directors of Parent filling the three vacancies created by the increase in the size of the Parent Board is increased by one member of Directors, to 7 members and serve until the new seat will be allocated as a Class II director and (b) Xx. Xxxxxxxx Xxxxxxxxx, a current member next annual meeting of the Company Boardstockholders of Parent and until their successors are duly elected and qualified or their earlier death, will be appointed to the Parent Board to fill the vacancy on the Parent Board created by such increaseresignation or removal.

Parent Board of Directors. On or prior to the Effective Time, Parent shall take all necessary corporate action so that (a) effective as of the Effective Time, the size of the Parent Board is increased by one member to 7 a total of nine (9) members and the new seat will be allocated as a Class II director and (b) Xx. Xxxxxxxx XxxxxxxxxXxxx, a current member of the Company Board, Xxx Xxxxxxxx and Xxxxxx Xxxxxxxxx will be appointed to the Parent Board to fill the vacancy vacancies on the Parent Board created by such increaseBoard.