Common use of Staggered Board Clause in Contracts

Staggered Board. The Certificate of Incorporation and By-Laws of the Company shall provide that the Board shall be divided into three classes, as nearly equal in number as possible, as follows: (A) one class initially consisting of two directors (“Class I”), the initial term of which shall expire at the first annual meeting of the stockholders to be held after the date hereof; (B) a second class initially consisting of two directors (“Class II”), the initial term of which shall expire at the second annual meeting of the stockholders to be held after the date hereof and (C) a third class initially consisting of two directors (“Class III”), the initial term of which shall expire at the third annual meeting of the stockholders to be held after the date hereof, with each class to hold office until its successors are elected and qualified. At each annual meeting of the stockholders of the Company, the successors of the members of the class of directors whose term expires at that meeting shall be elected to hold office for a term expiring at the third succeeding annual meeting of stockholders. On the date hereof, the Board shall consist of: (i) Xxxxxx X. Xxxxxxx and Xxxxxxxx Xxxxxxxx-Xxxxxx in Class I, (ii) Xxxxx X. Xxxxx and Xxxxx X. Xxxxxx in Class II and (iii) Xxxx X. Xxxxxx and Xxxxxx X. Xxxxx in Class III.

Staggered Board. The Certificate of Incorporation and By-Laws of the Company shall provide that the Board shall be divided into three classes, as nearly equal in number as possible, as follows: (A) one class initially consisting of two directors one director (“Class I”), the initial term of which shall expire at the first annual meeting of the stockholders to be held after the date hereof; (B) a second class initially consisting of two directors (“Class II”), the initial term of which shall expire at the second annual meeting of the stockholders to be held after the date hereof and (C) a third class initially consisting of two directors (“Class III”), the initial term of which shall expire at the third annual meeting of the stockholders to be held after the date hereof, with each class to hold office until its successors are elected and qualified. At each annual meeting of the stockholders of the Company, the successors of the members of the class of directors whose term expires at that meeting shall be elected to hold office for a term expiring at the third succeeding annual meeting of stockholders. On the date hereof, the Board shall consist of: (i) Xxxxxx X. Xxxxxxx and Xxxxxxxx Xxxxxxxx-Xxxxxx our vacant director position, which we intend to fill after the date hereof, in Class I, (ii) Xxxxx X. Xxxxx Xxxx and Xxxxx X. Xxxxxx Xxxx Xxxx in Class II and (iii) Xxxx X. R. Xxxxxx Xxxxxxxx and Xxxxxx X. Xxxxxxx Xxxxx in Class III.

Staggered Board. The Certificate of Incorporation and By-Laws of the Company shall provide that the Board shall be divided into three classes, as nearly equal in number as possible, as follows: (A) one class initially consisting of two directors one director (“"Class I”"), the initial term of which shall expire at the first annual meeting of the stockholders to be held after the date hereof; (B) a second class initially consisting of two directors (“"Class II”"), the initial term of which shall expire at the second annual meeting of the stockholders to be held after the date hereof and (C) a third class initially consisting of two directors (“"Class III”"), the initial term of which shall expire at the third annual meeting of the stockholders to be held after the date hereof, with each class to hold office until its successors are elected and qualified. At each annual meeting of the stockholders of the Company, the successors of the members of the class of directors whose term expires at that meeting shall be elected to hold office for a term expiring at the third succeeding annual meeting of stockholders. On the date hereof, the Board shall consist of: (i) Xxxxxx X. Xxxxxxx and Xxxxxxxx Xxxxxxxx-Xxxxxx _______________ in Class I, (ii) Xxxxx X. Xxxxx Tracy Noll and Xxxxx X. Xxxxxx John Lupo in Class II and (iii) Xxxx X. Xxxxxx and Xxxxxx X. R. Edward Anderson anx Xxxxxxx Flynn xx Xxxxx in Class III.

Staggered Board. The Certificate of Incorporation and By-Laws of the Company shall provide that the Board shall be divided into three classes, as nearly equal in number as possible, as follows: (A) one class initially consisting of two directors one director (“"Class I”"), the initial term of which shall expire at the first annual meeting of the stockholders to be held after the date hereof; (B) a second class initially consisting of two directors (“"Class II”"), the initial term of which shall expire at the second annual meeting of the stockholders to be held after the date hereof and (C) a third class initially consisting of two directors (“"Class III”"), the initial term of which shall expire at the third annual meeting of the stockholders to be held after the date hereof, with each class to hold office until its successors are elected and qualified. At each annual meeting of the stockholders of the Company, the successors of the members of the class of directors whose term expires at that meeting shall be elected to hold office for a term expiring at the third succeeding annual meeting of stockholders. On the date hereof, the Board shall consist of: (i) Xxxxxx X. Xxxxxxx and Xxxxxxxx Xxxxxxxx-Xxxxxx _______________ in Class I, (ii) Xxxxx X. Xxxxx Xxxx and Xxxxx X. Xxxxxx Xxxx Xxxx in Class II and (iii) Xxxx X. R. Xxxxxx Xxxxxxxx and Xxxxxx X. Xxxxxxx Xxxxx in Class III. <PAGE> 3.