Board Seat. So long as Purchaser shall own at least 10% of the capital stock of the Company, the Board of Directors agrees to support and cause to be placed on the ballot at each election of Directors one name which shall be a nominee to the Board of Directors of the Company (the "WEDGE Board Nominee"). Additionally, the WEDGE Board Nominee shall be appointed to serve on the audit committee and compensation committee of the Board of Directors and such committees must be established within 60 days from the Closing Date.
Board Seat. So long as IXC owns 95% of all IXC Common Shares issued to IXC hereunder, on the Closing Date, PSINet's Chairman shall recommend that (i) PSINet's Board of Directors elect Ralph J. Swett to PSINet's Board of Directors effective as of the Closing Date, for a term expiring in 1998 or later and (ii) subject to the next sentence, such person be nominated to stand for election with the other nominated Board members at the 1998 Annual Meeting of PSINet (or, later annual meeting associated with the expiration of his term) for a term expiring no earlier than 2000 and for reelection thereafter at the applicable Annual Meetings of PSINet. At such time as IXC shall cease to own the requisite amount of IXC Common Shares, a resignation letter will be executed by Ralph J. Swett immediately and he shall immediately cease to serve as a member of PSINet's Board of Directors.
Board Seat. Upon termination of Executive’s employment by either party for any reason, Executive will resign his position on the Board and any other positions he may hold with or for the benefit of the Company and/or its affiliates, including, but not limited to, as an officer and/or director of any Company subsidiaries.
Board Seat. So long as the Employee remains an employee of the Company, the Company agrees to use its best efforts to cause the Employee to be nominated for election to the Company's Board of Directors at each annual or special meeting of the stockholders of the Company at which the general election of directors of the Company is to take place and to use its best efforts to cause the Employee to be so elected to such Board of Directors.
Board Seat. Until such time as EIS and its affiliates collectively own securities representing less than 10% of the Common Stock or equivalents, on an as converted and fully diluted basis (i.e., assuming conversion of the Notes and exercise of the Warrant, but excluding conversion or exercise of all options) the Company shall use its best efforts to cause EIS to designate one member of the Company's Board of Directors.
Board Seat. XOMA shall have the right, but not the obligation, to appoint a representative (who shall be XOMA’s CEO) to AntriaBio’s board of directors. AntriaBio’s board of directors shall appoint XOMA’s nominee immediately upon such nominee completing AntriaBio’s standard form of directors and officers questionnaire and will include such nominee in the proxy statement for AntriaBio’s next annual meeting.
Board Seat. By its execution of this Agreement, MHE Investments, Inc. agrees to take all necessary actions to cause Michael Erwin to be elected and maintained as a member of the Board of Directors of the Company and the board of directors of MMH for so long as the Executive is employed pursuant to this Agreement. In addition, it is agreed that Michael Erwin shall be entitled from time to time to recommend one other member of management to serve as a director of the Company and as a director of MMH, subject to the approval of their respective boards.