Board of Directors; Committees. The Board of Directors shall maintain a standing committee to be known as the “Audit Committee” and a standing committee to be known as the “Compensation Committee”. At the option of Francisco Partners so long as the Francisco Partners Group is entitled to nominate at least one director to the Board of Directors pursuant to Section 2, at least one of the members of the Audit Committee, at least one of the members of the Compensation Committee, and at least one member of any other standing or ad hoc committee of the Board of Directors, shall be a Francisco Partners Nominee so long as the Francisco Partners Group holds 1/8th or more of the Shares subject to this Agreement.
Appears in 5 contracts
Samples: Shareholders Agreement, Shareholders Agreement (Morgan Stanley), Shareholders Agreement (Matthews Terence H)
Board of Directors; Committees. The Board of Directors shall maintain a standing committee to be known as the “Audit Committee” "AUDIT COMMITTEE" and a standing committee to be known as the “Compensation Committee”"COMPENSATION COMMITTEE". At the option of Francisco Partners so long as the Francisco Partners Group is entitled to nominate at least one director to the Board of Directors pursuant to Section 2, at least one of the members of the Audit Committee, at least one of the members of the Compensation Committee, and at least one member of any other standing or ad hoc committee of the Board of Directors, shall be a Francisco Partners Nominee so long as the Francisco Partners Group holds 1/8th or more of the Shares subject to this Agreement.
Appears in 1 contract
Samples: Shareholders Agreement (EdgeStone Capital Equity Fund II - US GP, L.P.)
