Common use of Board Observer; Executive Management Committee Clause in Contracts

Board Observer; Executive Management Committee. 5.17.1. Xxxxxx Xxxxxx, as of the Closing, shall be designated as a nonvoting observer on the Intek Board of Directors and will be entitled to attend Board meetings. Observer status on the Intek Board of Directors will terminate if the Acorn Key Shareholders sell more than fifty percent (50%) of their Intek Shares or upon an IPO of Intek's securities, or upon an Intek Change in Control.

Board Observer; Executive Management Committee. 5.17.1. Xxxxxx Xxxxxx, as of the Closing, shall be designated as a nonvoting observer on the Intek Etinuum Board of Directors and will be entitled to attend Board meetings. Observer status on the Intek Etinuum Board of Directors will terminate if the Acorn Key Shareholders sell more than fifty percent (50%) of their Intek Shares Common Stock after exercise of their Options or upon an IPO of IntekEtinuum's securities, or upon an Intek Etinuum Change in Control.