FIRST AMENDMENT TO RIGHTS AGREEMENTRights Agreement • March 20th, 2008 • Perceptron Inc/Mi • Optical instruments & lenses • Michigan
A “Continuing Director” is a member of the Board of Directors of the Company who is not an Acquiring Person or an affiliated or associated person of an Acquiring Person and who was a member of the Board prior to the Shares Acquisition Date (as defined above) or subsequently became a member of the Board and whose nomination for election or election to the Board was recommended or approved by a majority of the Continuing Directors then on the Board. At least two Continuing Directors must approve of, or concur on, any action requiring the approval or concurrence of Continuing Directors.
