Common use of Sunset Provisions Clause in Contracts

Sunset Provisions. (a) On the date on which Lonstein ceases to hold at least 50% oF the shares of Common Stock (calculated assuming the exercise of all vested in-the-money stock options) held by Lonstein on the date hereof, then the number of persons whom Lonstein shall have the right to designate to serve as directors of the Company under Section 3.1(a)(i) shall be reduced to one. On the date on which Lonstein ceases to hold at least 25% of the shares of Common Stock (calculated assuming the exercise of all vested in-the-money stock options) held by Lonstein on the date hereof, Lonstein's right to designate Persons to serve as directors of the Company under Section 3.1(a)(i) and 3.1(a)(iv) shall terminate as of such date.

Sunset Provisions. (a) On the date on which Lonstein ceases to hold at least 50% oF of the shares of Common Stock (calculated assuming the exercise of all vested in-the-money stock options) held by Lonstein on the date hereofOriginal Closing Date, then the number of persons whom Lonstein shall have the right to designate to serve as directors of the Company under Section 3.1(a)(i) shall be reduced to one. On the date on which Lonstein ceases to hold at least 25% of the shares of Common Stock (calculated assuming the exercise of all vested in-the-money stock options) held by Lonstein on the date hereofOriginal Closing Date, Lonstein's right to designate Persons to serve as directors of the Company under Section 3.1(a)(i) and 3.1(a)(iv) shall terminate as of such date.