{"component": "clause", "props": {"groups": [{"snippet": "(a) The Company shall take all necessary action to ensure that, immediately after the Closing Date, (i) the size of the Board shall be set at seven (7) directors and shall initially consist of the following seven (7) directors: [______] (the \u201cInitial Directors\u201d), (ii) the audit committee of the Board shall initially consist of the following directors: [______], (iii) the compensation committee of the Board shall initially consist of the following directors: [______], (iv) the nominating and governance committee of the Board shall initially consist of the following directors: [______], and (v) [______] shall serve as the Chair of the Board. Of the Initial Directors, [______] is deemed to be the Charter Director, [______] is deemed to be the Liberty Broadband Director, [______] is deemed to be the Cerberus Director, [______] is deemed to be the Additional Director and [_____], [_____] and [_____] are deemed to be Unaffiliated Directors. From and after the Closing Date, the rights of the Stockholders to designate directors to the Board and its committees shall be as set forth in the remainder of this Section 2.1.\n(b) Until such time as the Charter Stockholder beneficially owns Voting Stock representing less than 7.5% of the outstanding shares of Common Stock (on an as-converted basis), the Company will take all necessary action (to the extent not prohibited by applicable law) to cause the Board to nominate for election at each annual or special meeting of stockholders at which directors are to be elected that number of individuals designated by the Charter Stockholder that, if elected, would result in one (1) Charter Director serving on the Board and shall support the Charter Director for election in a manner no less rigorous and favorable than the manner in which the Company supports the other nominees, and, if any such individual is not so elected, cause such individual to be promptly appointed as a director.\n(c) Until such time as the Liberty Broadband Stockholder beneficially owns Voting Stock representing less than 7.5% of the outstanding shares of Common Stock (on an as-converted basis), the Company will take all necessary action (to the extent not prohibited by applicable law) to cause the Board to nominate for election at each annual or special meeting of stockholders at which directors are to be elected that number of individuals designated by the Liberty Broadband Stockholder that, if elected, would result in one (1) Liberty Broadband Director serving on the Board and shall support the Liberty Broadband Director for election in a manner no less rigorous and favorable than the manner in which the Company supports the other nominees, and, if such individual is not so elected, cause such individual to be promptly appointed as a director.\n(d) Until such time as the Cerberus Stockholder beneficially owns Voting Stock representing less than 7.5% of the outstanding shares of Common Stock (on an as-converted basis), the Company will take all necessary action (to the extent not prohibited by applicable law) to cause the Board to nominate for election at each annual or special meeting of stockholders at which directors are to be elected that number of individuals designated by the Cerberus Stockholder that, if elected, would result in one (1) Cerberus Director serving on the Board and shall support the Cerberus Director for election in a manner no less rigorous and favorable than the manner in which the Company supports the other nominees, and, if such individual is not so elected, cause such individual to be promptly appointed as a director.\n(e) Until such time as the Charter Stockholder, the Liberty Broadband Stockholder and the Cerberus Stockholder beneficially own Voting Stock representing (in aggregate) less than 22.5% of the outstanding shares of Common Stock (on an as-converted basis), the Company will take all necessary action (to the extent not prohibited by applicable law) to cause the Board to nominate for election at each annual or special meeting of stockholders at which directors are to be elected that number of individuals nominated by the Charter Stockholder, the Liberty Broadband Stockholder and the Cerberus Stockholder (or to the extent that any such Stockholder no longer owns Voting Stock representing at least 7.5% of the outstanding shares of Common Stock (on an as-converted basis), only such Stockholders that continue to own Voting Stock representing at least 7.5% of the outstanding shares of Common Stock (on an as-converted basis)) that, if elected, would result in one (1) Additional Director serving on the Board and shall support the Additional Director for election in a manner no less rigorous and favorable than the manner in which the Company supports the other nominees.\n(f) Following the Closing Date, the Company shall not increase or decrease the size of the Board without the prior approval of a majority of the Unaffiliated Directors serving on the Board as of such time. The Company shall take all necessary action (to the extent not prohibited by applicable law) to cause the Board to (A) appoint or nominate an Unaffiliated Director for election to fill any vacancy created by (i) the death, disability, resignation or removal of an Unaffiliated Director or (ii) an increase in the size of the Board and (B) maintain a percentage of Unaffiliated Directors serving on the Board that is no less than the percentage of Unaffiliated Directors serving on the Board as of the Closing Date.\n(g) Notwithstanding the foregoing, if any Stockholder (the \u201cBuying Stockholder\u201d) acquires 100% of one of the other Stockholder\u2019s (the \u201cSelling Stockholder\u201d) Preferred Stock Ownership and Exchange Common Stock Ownership (including pursuant to the exercise of a Right of First Refusal), the Selling Stockholder shall take all necessary action to cause the Director designated by the Selling Stockholder to resign from the Board immediately upon the closing of such acquisition, and the Company shall, as promptly as is reasonably practicable, take all necessary action (to the extent not prohibited by applicable law) to cause the Board to appoint one (1) additional Person designated by the Buying Stockholder to fill such newly created vacancy and thereafter, until such time as the Buying Stockholder beneficially owns a number of shares of Voting Stock (disregarding the shares of Voting Stock beneficially owned by the Buying Stockholder immediately prior to such transaction) representing less than 7.5% of the outstanding shares of Common Stock (on an as-converted basis), the Company will take all necessary action (to the extent not prohibited by applicable law) to cause the Board to nominate for election at each annual or special meeting of stockholders at which directors are to be elected that number of individuals designated by the Buying Stockholder that, if elected, would result in one (1) additional Director designated by the Buying Stockholder serving on the Board and, if any such individual is not so elected, cause such individual to be promptly appointed as a director.\n(h) Notwithstanding anything to the contrary contained elsewhere herein, in no event shall a Stockholder be entitled to designate or nominate a number of directors to the Board that would constitute a majority of the Board pursuant to this Section 2.1.\n(i) Subject to compliance with applicable laws, stock exchange regulations and the Settlement, for so long as the Charter Stockholder beneficially owns Voting Stock representing at least 7.5% of the outstanding shares of Common Stock (on an as-converted basis), the Company will take all necessary action (to the extent not prohibited by applicable law) to cause the Board to appoint (i) the Charter Director to serve on the compensation committee of the Board and (ii) the Charter Director to serve on the nominating and governance committee of the Board.\n(j) Subject to compliance with applicable laws, stock exchange regulations and the Settlement, for so long as the Liberty Broadband Stockholder beneficially owns Voting Stock representing at least 7.5% of the outstanding shares of Common Stock (on an as-converted basis), the Company will take all necessary action (to the extent not prohibited by applicable law) to cause the Board to appoint (i) the Liberty Broadband Director to serve on the compensation committee of the Board and (ii) the Liberty Broadband Director to serve on the nominating and governance committee of the Board.\n(k) Subject to compliance with applicable laws, stock exchange regulations and the Settlement, for so long as the Cerberus Stockholder beneficially owns Voting Stock representing at least 7.5% of the outstanding shares of Common Stock (on an as-converted basis), the Company will take all necessary action (to the extent not prohibited by applicable law) to cause the Board to appoint (i) the Cerberus Director to serve on the compensation committee of the Board and (ii) the Cerberus Director to serve on the nominating and governance committee of the Board.\n(l) Subject to compliance with applicable laws, stock exchange regulations and the Settlement, for so long as the Charter Stockholder, the Liberty Broadband Stockholder and the Cerberus Stockholder beneficially own Voting Stock representing (in aggregate) at least 22.5% of the outstanding shares of Common Stock (on an as-converted basis), the Company will take all necessary action (to the extent not prohibited by applicable law) to cause the Board to designate the Additional Director as the Chair of the Board unless otherwise agreed.\n(m) In the event that any Stockholder has nominated fewer than the total number of designees that the Stockholder shall be entitled to nominate to the Board pursuant to this Section 2.1, then such Stockholder shall have the right, at any time and from time to time, to nominate such additional designee(s) to which it is entitled, in which case, the Company shall, as promptly as is reasonably practicable, take all necessary action (to the extent not prohibited by applicable law) to cause the Board to (x) increase the size of the Board as required to enable such Stockholder to so nominate such additional designee(s), and (y) appoint such additional designees nominated by such Stockholder to fill such newly created vacancy or vacancies, as applicable.\n(n) The Charter Stockholder may cause the Charter Director to resign (with or without cause) from time to time and at any time upon notice to the Company, the Liberty Broadband Stockholder may cause the Liberty Broadband Director to resign (with or without cause) from time to time and at any time upon notice to the Company, and the Cerberus Director may cause the Cerberus Director to resign (with or without cause) from time to time and at any time upon notice to the Company.\n(o) In the event that a vacancy is created on the Board by the death, disability, resignation or removal of a Director, the relevant Stockholder that designated such Director shall be entitled to designate an individual to fill the vacancy so long as (i) the total number of such Stockholder\u2019s Directors serving on the Board immediately following the filling of such vacancy will not exceed the total number of Persons such Stockholder is entitled to designate pursuant to this Section 2.1 on the date of such replacement designation and (ii) the replacement designee (A) will, if the departing Director being replaced qualified as independent within the meaning of Nasdaq Rule 5605(a) as of his or her departure (an \u201cIndependent Director\u201d), qualify as an Independent Director and (B) does not serve on the board of directors or as an officer of an Industry Person. The Company shall, as promptly as is reasonably practicable, take all necessary action (to the extent not prohibited by applicable law) to cause such replacement designee to become a member of the Board.\n(p) The Company agrees to take all necessary action (to the extent not prohibited by applicable law) to cause the Board to include in the slate of nominees recommended by the Board for election at any meeting of stockholders called for the purpose of electing directors each individual designated by a Stockholder pursuant to this Section 2.1 (to the extent that directors of such nominee\u2019s class are to be elected at such meeting for so long as the Board is classified) and to nominate and recommend each such individual to be elected as a director as provided herein, and to solicit proxies or consents in favor thereof. The Company is entitled to identify such individual(s) as Charter Director, Liberty Broadband Director, Cerberus Director or Additional Director, as applicable, pursuant to this Agreement. The Company shall support each Charter Director, \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 Director, \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 Director and Additional Director for election in a manner no less rigorous and favorable than the manner in which the Company supports the other nominees.\n(q) [Reserved.]\n(r) For so long as a Stockholder beneficially owns Voting Stock representing at least 5% of the outstanding shares of Common Stock on an as-converted basis, each Stockholder agrees to vote, or provide a written consent or proxy with respect to, its Voting Stock, and to cause such Stockholder\u2019s Permitted Transferees that become a party to this Agreement to vote, or provide a written consent or proxy with respect to, their Voting Stock, in each case in a neutral manner, in the election of any directors nominated by the Board, other than pursuant to any Stockholder\u2019s right to designate or nominate such Director pursuant to the terms of this Agreement. In addition to the foregoing, each Stockholder agrees to vote, or provide a written consent or proxy with respect to, any issued and outstanding shares of Common Stock and Preferred Stock held by such Stockholder (or with respect to which such Stockholder has the power to vote) that represent voting power in excess of 49.99% of the total voting power of the Company in a neutral manner on all matters upon which such Stockholder is entitled to vote such shares of Common Stock and Preferred Stock. A \u201cneutral manner\u201d means in the same proportion as all other outstanding Common Stock of the Company (excluding any and all shares of Common Stock beneficially owned, directly or indirectly, by the Stockholders and their respective Permitted Transferees that become parties to this Agreement) voted on the relevant matters. Notwithstanding the foregoing, if a Stockholder has exhausted all commercially reasonable efforts to vote any issued and outstanding shares of Common Stock held by such Stockholder (or with respect to which such Stockholder has the power to vote) in a neutral manner in accordance with this Agreement but is unable to cast such vote neutrally, then instead of voting neutrally with respect thereto, such Stockholder shall be permitted to abstain from casting votes with respect to such shares of Common Stock on the relevant matter or matters (provided, for the avoidance of doubt, that such Stockholder shall still be required to vote, or provide a written consent or proxy with respect to, its other Voting Stock in a neutral manner in accordance with this Agreement). For so long as this Section 2.1(r) applies to a Stockholder or its Permitted Transferee, each such Stockholder and Permitted Transferee shall be deemed to irrevocably appoint as its proxy and attorney-in-fact, the Chief Executive Officer, the Chief Financial Officer and the General Counsel of the Company, each of them individually, with full power of substitution and resubstitution, to consent to or vote any shares of Voting Stock held by them in accordance with this Section 2.1(r). Moreover, upon the acquisition of shares of Preferred Stock, each Stockholder and Permitted Transferee shall be deemed to irrevocably appoint as its proxy and attorney-in-fact, the Chief Executive Officer, the Chief Financial Officer and the General Counsel of the Company, each of them individually, with full power of substitution and resubstitution, to consent to or vote any shares of Preferred Stock held by them in excess of the Voting Threshold (as defined in the Certificate of Designations) with respect to any matters that must be voted in a neutral manner under the Certificate of Designations. 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may be listed or traded for election to the Board, and, if the Board is comprised of different classes with staggered terms of service, such designee shall be nominated for election to the class with the longest term of service.\n(b) In the event that any designee of the Pine Brook Entities under this Section 2.1 shall for any reason cease to serve as a member of the Board during his term of office (such former Board member, a \u201cFormer Director\u201d), the resulting vacancy on the Board shall be filled by an individual designated by the Pine Brook Entities (a \u201cReplacement Director\u201d) so long as the Pine Brook Entities have the right to nominate such director pursuant to this Section 2.1.\n(c) The Company hereby agrees, subject to Section 2.1(a), to (i) include the director nominee to which the Pine Brook Entities are entitled on each slate of nominees for election to the Board proposed by the Company and/or the Board and (ii) recommend the election of the director nominee to which the Pine Brook Entities are entitled to the shareholders of the Company. Without limiting the foregoing, the Company shall, as promptly as reasonably practicable, use commercially reasonably efforts to take all necessary and desirable actions within its control (including, without limitation, calling special meetings of the Board and/or the Company\u2019s shareholders) to cause the election, removal and replacement of the designee of the Pine Brook Entities pursuant to this Section 2.1.\n(d) That certain management rights letter, dated as of February 6, 2009, between the Company and Essent Intermediate, L.P. shall be terminated and have no further force or effect as of the date hereof.", "size": 11, "samples": [{"hash": "jl6fIu2nOZS", "uri": "/contracts/jl6fIu2nOZS#designees", "label": "Shareholder Agreement (Essent Group Ltd.)", "score": 25.1861743927, "published": true}, {"hash": "7nlhpqhwyw4", "uri": "/contracts/7nlhpqhwyw4#designees", "label": "Shareholder Agreement (PBRA (CAYMAN) Co)", "score": 24.8631076813, "published": true}, {"hash": "efMOQuI2YwT", "uri": "/contracts/efMOQuI2YwT#designees", "label": "Shareholder Agreement (Essent Group Ltd.)", "score": 24.7344284058, "published": true}], "snippet_links": [{"key": "pine-brook", "type": "definition", "offset": [19, 29]}, {"key": "beneficially-own", "type": "clause", "offset": [73, 89]}, {"key": "ipo-shares", "type": "clause", "offset": [162, 172]}, {"key": "right-to-nominate", "type": "clause", "offset": [213, 230]}, {"key": "requirements-of-applicable-law", "type": "clause", "offset": [264, 294]}, {"key": "independence-requirements", "type": "clause", "offset": [303, 328]}, {"key": "rules-of", "type": "definition", "offset": [344, 352]}, {"key": "national-securities-exchange", "type": "definition", "offset": [357, 385]}, {"key": "the-common-shares", "type": "clause", "offset": [395, 412]}, {"key": "election-to-the-board", "type": "clause", "offset": [441, 462]}, {"key": "comprised-of", "type": "clause", "offset": [485, 497]}, {"key": "terms-of-service", "type": "definition", "offset": [531, 547]}, {"key": "to-the-class", "type": "clause", "offset": [595, 607]}, {"key": "term-of-service", "type": "definition", "offset": [625, 640]}, {"key": "in-the-event", "type": "clause", "offset": [646, 658]}, {"key": "section-21", "type": "clause", "offset": [715, 726]}, {"key": "for-any-reason", "type": "clause", "offset": [733, 747]}, {"key": "to-serve", "type": "definition", "offset": [754, 762]}, {"key": "member-of-the-board", "type": "definition", "offset": [768, 787]}, {"key": "term-of-office", "type": "definition", "offset": [799, 813]}, {"key": "former-board-member", "type": "definition", "offset": [820, 839]}, {"key": "former-director", "type": "definition", "offset": [844, 859]}, {"key": "board-shall", "type": "definition", "offset": [892, 903]}, {"key": "an-individual", "type": "clause", "offset": [917, 930]}, {"key": "replacement-director", "type": "definition", "offset": [973, 993]}, {"key": "pursuant-to", "type": "definition", "offset": [1072, 1083]}, {"key": "the-company-hereby", "type": "clause", "offset": [1106, 1124]}, {"key": "subject-to-section", "type": "clause", "offset": [1133, 1151]}, {"key": "director-nominee", "type": "definition", "offset": [1179, 1195]}, {"key": "by-the-company", "type": "clause", "offset": [1303, 1317]}, {"key": "election-of", "type": "clause", "offset": [1358, 1369]}, {"key": "shareholders-of-the-company", "type": "clause", "offset": [1444, 1471]}, {"key": "without-limiting-the-foregoing", "type": "clause", "offset": [1473, 1503]}, {"key": "the-company-shall", "type": "clause", "offset": [1505, 1522]}, {"key": "commercially-reasonably-efforts", "type": "clause", "offset": [1567, 1598]}, {"key": "without-limitation", "type": "clause", "offset": [1674, 1692]}, {"key": "special-meetings-of-the-board", "type": "clause", "offset": [1702, 1731]}, {"key": "replacement-of", "type": "clause", "offset": [1802, 1816]}, {"key": "management-rights-letter", "type": "definition", "offset": [1904, 1928]}, {"key": "dated-as-of", "type": "definition", "offset": [1930, 1941]}, {"key": "no-further-force-or-effect", "type": "clause", "offset": [2039, 2065]}, {"key": "date-hereof", "type": "clause", "offset": [2076, 2087]}], "hash": "8c06ead60268010ff199d294f39755d6", "id": 2}, {"snippet": "(a) Upon the closing of the IPO, the Board shall consist of 8 directors, including \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587\u2587 \u201c\u2587\u2587\u2587\u201d \u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587 Spender, \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 and \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587-\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587. The Board will be divided into three classes of directors, with each class as equal in number as possible, serving staggered three-year terms as set forth in the Certificate of Incorporation, and such directors will be removable only for \u201ccause\u201d as set forth in the Certificate of Incorporation.\n(b) Following the closing of the IPO, BCP shall have the right, but not the obligation, to nominate to the Board a number of designees equal to at least: (i) a majority of the Total Number of Directors, so long as BCP Beneficially Owns 50% or more of the outstanding shares of Common Stock; (ii) 40% of the Total Number of Directors, in the event that BCP Beneficially Owns 40% or more, but less than 50%, of the outstanding shares of Common Stock; (iii) 30% of the Total Number of Directors, in the event that BCP Beneficially Owns 30% or more, but less than 40%, of the outstanding shares of Common Stock; (iv) 20% of the Total Number of Directors, in the event that BCP Beneficially Owns 20% or more, but less than 30%, of the outstanding shares of Common Stock; and (v) 10% of the Total Number of Directors, in the event that BCP Beneficially Owns 5% or more, but less than 20%, of the outstanding shares of Common Stock. If BCP Beneficially Owns less than 5% of the outstanding shares of Common Stock, it shall not be entitled to designate a nominee. For purposes of calculating the number of directors that BCP is entitled to designate pursuant to the immediately preceding sentence, any fractional amounts shall automatically be rounded up to the nearest whole number (e.g., one and one quarter (11/4) directors shall equate to two (2) directors), and any such calculations shall be made after taking into account any increase in the Total Number of Directors.\n(c) In the event that BCP has nominated less than the total number of designees BCP shall be entitled to nominate pursuant to Section 2.1(b), BCP shall have the right, at any time, to nominate such additional designees to which it is entitled, in which case the Company and the directors shall take all Necessary Action, to the fullest extent permitted by applicable Law (including with respect to fiduciary duties under Delaware law), to (x) enable BCP to nominate and effect the election or appointment of such additional individuals, whether by increasing the size of the Board or otherwise, and (y) designate such additional individuals nominated by BCP to fill such newly-created vacancies or to fill any other existing vacancies. Each such individual whom BCP shall actually nominate pursuant to this Section 2.1 and who is thereafter elected to the Board to serve as a director shall be referred to herein as a \u201cBCP Director.\u201d\n(d) CEP Holdings shall have the right, but not the obligation, to nominate \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587\u2587 to the Board for so long as CEP Holdings Beneficially Owns at least 10% or more of the outstanding shares of Common Stock or \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587\u2587 holds the title of Chief Executive Officer of the Company. For the avoidance of doubt, the rights granted to BCP to designate members of the Board are additive to, and not intended to limit in any way, the rights that BCP or its Affiliates may have to nominate, elect or remove directors under the Company\u2019s Certificate of Incorporation, Bylaws or the General Corporation Law of the State of Delaware. The Company agrees, to the fullest extent permitted by applicable law (including with respect to any applicable fiduciary duties under Delaware law), to take all Necessary Action to effectuate the above by; (A) including the persons designated pursuant to this Section 2.1 in the slate of nominees recommended by the Board for election at any meeting of stockholders called for the purpose of electing directors, (B) nominating and recommending each such individual to be elected as a director as provided herein, (C) soliciting proxies or consents in favor thereof, and (D) without limiting the foregoing, otherwise using its reasonable best efforts to cause such nominees to be elected to the Board, including providing at least as high a level of support for the election of such nominees as it provides to any other individual standing for election as a director. The Company is entitled to identify such individual(s) nominated pursuant to Section 2.1(b) as a BCP Director pursuant to this Agreement.\n(e) At any time the members of the Board are allocated among separate classes of directors, to the fullest extent permitted by law, (i) the BCP Directors shall be in different classes of directors to the extent practicable and (ii) the Company shall consult with BCP regarding the class or classes of directors to which the BCP Directors shall be designated and the Company and the Principal Stockholders shall take all Necessary Action, including using their reasonable best efforts, to cause the BCP Directors to be designated to the class or classes requested by BCP.\n(f) So long as BCP is entitled to designate one or more nominees pursuant to Section 2.1(b), BCP shall have the right to request the removal of any BCP Director (with or without cause) nominated by BCP, from time to time and at any time, from the Board, exercisable upon written notice to the Company, and the Company and the Principal Stockholders shall take all Necessary Action to cause such removal.\n(g) So long as BCP Beneficially Owns at least 10% of the outstanding shares of Common Stock, the Company shall take all Necessary Action to cause any committee of the Board to include in its membership at least one BCP Director, except to the extent that such membership would violate applicable securities laws or stock exchange or stock market rules.\n(h) Nothing in this Section 2.1 shall be deemed to require that any party hereto, or any Affiliate thereof, act or be in violation of any applicable provision of law, regulation, legal duty or requirement or stock exchange or stock market rule.\n(i) In the event that a vacancy is created on the Board at any time by the death, disability, resignation or removal (whether by BCP or otherwise in accordance with the Company\u2019s Certificate of Incorporation and Bylaws, as either may be amended or restated from time to time) of a BCP Director, BCP shall be entitled to designate an individual to fill the vacancy so long as the total number of persons that will serve on the Board as BCP Directors immediately following the filling of such vacancy will not exceed the total number of persons BCP is entitled to designate pursuant to Section 2.1(b) on the date of such replacement designation. The Company and the Principal Stockholders shall take all Necessary Action to cause such replacement BCP Director to become a member of the Board.\n(j) In the event that the number of nominees that BCP is entitled to designate pursuant to Section 2.1(a) decreases below the number of BCP Directors then on the Board, to the extent requested by the nominating and corporate governance committee, BCP shall promptly cause a number of BCP Directors to resign from service on the Board (and all committees thereof on which such BCP Director serves) so that the number of BCP Directors is no greater than the number of nominees BCP is entitled to designate pursuant to Section 2.1(b), and promptly thereafter the Company shall take all Necessary Action to cause the Board to cause the size of the Board to decrease by such number and to remove such BCP Director from office.", "size": 10, "samples": [{"hash": "8snGdgq3Kwi", "uri": "/contracts/8snGdgq3Kwi#designees", "label": "Stockholders' Agreement 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"id": 3}, {"snippet": "(a) The Company and the Principal Stockholders shall take all Necessary Action to cause the Board to consist of members designated as follows:\n(i) Three nominees shall be designated by Rice Energy Holdings LLC (the \u201cRice Holdco Directors\u201d); provided, that (A) the number of nominees designated by Rice Energy Holdings LLC shall be reduced to two directors at such time as Rice Energy Holdings LLC and its Affiliates (the \u201cRice Holdco Entities\u201d) collectively Beneficially Own less than 15% and greater than or equal to 5% of the outstanding shares of Common Stock, at which point one Rice Holdco Director shall tender his resignation to the Board, and (B) Rice Energy Holdings LLC shall no longer be entitled to designate a nominee at such time as the Rice Holdco Entities collectively Beneficially Own less than 5% of the outstanding shares of Common Stock, at which point the Rice Holdco Directors shall tender their resignations to the Board. At any given time, and provided that the directors are allocated among separate classes, the Rice Holdco Directors shall be in different classes of directors;\n(ii) Two nominees shall be designated by NGP Rice Holdings, LLC (the \u201cNGP Directors\u201d); provided, that (A) the number of nominees designated by NGP Rice Holdings, LLC shall be reduced to one director at such time as NGP Rice Holdings, LLC and its Affiliates (the \u201cNGP Entities\u201d) collectively Beneficially Own less than 15% and greater than or equal to 5% of the outstanding shares of Common Stock at which point one NGP Holdco Director shall tender his resignation to the Board, and (B) that NGP Rice Holdings, LLC shall no longer be entitled to designate a nominee at such time as the NGP Entities collectively Beneficially Own less than 5% of the outstanding shares of Common Stock, at which point the NGP Director shall tender his resignation to the Board; and\n(iii) One nominee shall be designated by Alpha Natural Resources, Inc. (the \u201cANR Director\u201d); provided, that Alpha Natural Resources, Inc. shall no longer be entitled to designate a nominee at such time as Alpha Natural Resources, Inc. and its Affiliates (the \u201cANR Entities\u201d) collectively Beneficially Own less than 5% of the outstanding shares of Common Stock, at which point the ANR Director shall tender his resignation to the Board; provided, further, however, that if immediately following the consummation of the IPO, the ANR Entities collectively Beneficially Own less than 5% of the outstanding shares of Common Stock, Alpha Natural Resources, Inc. shall nevertheless be entitled to designate one ANR Director until the earlier to occur of (x) the first anniversary of the IPO and (y) the date on which the ANR Entities have divested more than 75% of the Alpha Shares (as defined in the Transaction Agreement). In any event, the ANR Director must be either (i) the Chief Executive Officer of Alpha Natural Resources, Inc. at the time of the designation of such ANR Director or (ii) a member of senior management (with a title of Senior Vice President or greater) of Alpha Natural Resources, Inc. that is reasonably satisfactory to the Company.\n(b) So long as the Rice Holdco Entities collectively Beneficially Own 15% or more of the outstanding shares of Common Stock, the Board shall include at least one Rice Holdco Director on each committee of the Board as designated by Rice Energy Holdings LLC (subject to any independence requirement imposed by law or by the rules of any national securities exchange on which the Common Stock may be listed or traded).\n(c) So long as a Sponsor is entitled to designate a nominee pursuant to Section 2.1(a), the Sponsor shall have the right to remove such nominee (with or without cause), from time to time and at any time, from the Board, exercisable upon written notice to the Company. Should a director designated by a Sponsor be removed for any reason, whether by such Sponsor or otherwise in accordance with the Company\u2019s certificate of incorporation and bylaws, as either may be amended or restated from time to time, the Sponsor shall be entitled to designate an individual to fill the vacancy created by such removal so long as the Sponsor is entitled to designate a nominee pursuant to Section 2.1(a) on the date of such replacement designation; provided, that the ANR Director must meet the requirements of Section 2.1(a)(iii).\n(d) Each Principal Stockholder hereby agrees to vote, in respect of the Board, such Principal Stockholder\u2019s shares of Common Stock and Equity Securities for any nominee designated by a Sponsor so long as the Sponsor is entitled to designate such nominee pursuant to Section 2.1(a). In the event that a Sponsor wishes to remove its designee to the Board in accordance with Section 2.1(c), each Principal Stockholder hereby agrees to vote, in respect of the Board, its shares of Common Stock or Equity Securities for the removal of such designee from the Board.\n(e) In connection with the required resignation of any director appointed by a Sponsor pursuant to this Section 2.1, such director may tender his resignation in advance of the date on which such resignation is required pursuant to this Section 2.1 and the Board shall have the right to decline to accept such resignation, in which case such director shall continue to serve on the Board until the earlier of his subsequent resignation, death or removal. Notwithstanding the foregoing, any director appointed by a Sponsor may elect to have his resignation be effective immediately upon tender.", "size": 10, "samples": [{"hash": "83oZTOLsgVp", "uri": "/contracts/83oZTOLsgVp#designees", "label": "Stockholders' Agreement (Rice Energy Inc.)", "score": 25.0930862427, "published": true}, {"hash": "cEN203K6Sd", "uri": "/contracts/cEN203K6Sd#designees", "label": "Stockholders' Agreement (Alpha Natural Resources, Inc.)", "score": 24.9370288849, "published": true}], "snippet_links": [{"key": "principal-stockholders", "type": "definition", "offset": [24, 46]}, {"key": "all-necessary-action", "type": "clause", "offset": [58, 78]}, {"key": "of-members", "type": "clause", "offset": [109, 119]}, {"key": "holdings-llc", "type": "definition", "offset": [197, 209]}, {"key": "holdco-directors", "type": "clause", "offset": [221, 237]}, {"key": "number-of-nominees", "type": "clause", "offset": [264, 282]}, {"key": "holdco-entities", "type": "definition", 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\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587 and one vacancy for the Final Independent Director. During the one year period commencing on the date that the Class A Common Stock is listed on the New York Stock Exchange, the Board, with the approval of a majority of the Sponsor Directors, shall fill the vacancy with the Final Independent Director. The Board will be divided into three classes of directors serving staggered three-year terms with \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 and \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587 each serving an initial term ending on the date of the Company\u2019s 2020 annual general meeting of stockholders, \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587 and \u2587\u2587\u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587\u2587 each serving an initial term ending on the date of the Company\u2019s 2021 annual general meeting of stockholders and J.R. \u2587\u2587\u2587\u2587, \u2587\u2587\u2587 \u201cBud\u201d \u2587. \u2587\u2587\u2587\u2587\u2587\u2587\u2587 and the Final Independent Director each serving an initial term ending on the date of the Company\u2019s 2022 annual general meeting of stockholders. Subject to Section 2.1(e), each director will be removable only for \u201ccause\u201d as set forth in the Certificate of Incorporation.\n(b) Upon the closing of the IPO, the Audit Committee of the Board shall be comprised of J.R. \u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587 and \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587, provided that \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587 shall be removed from the Audit Committee upon the earlier to occur of December 31, 2019 or the appointment of the Final Independent Director. Upon the closing of the IPO, the Compensation Committee of the Board shall be comprised of \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587 and \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587; and the Nominating and Governance Committee of the Board shall be comprised of \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587 and \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587.", "size": 9, "samples": [{"hash": "bqxCTARtK2f", "uri": "/contracts/bqxCTARtK2f#designees", "label": "Stockholders' Agreement (Brigham Minerals, Inc.)", "score": 30.3223819733, "published": true}, {"hash": "kDzGyibvmgk", "uri": "/contracts/kDzGyibvmgk#designees", "label": "Stockholders' Agreement (Brigham Minerals, Inc.)", "score": 30.2375087738, "published": true}], "snippet_links": [{"key": "closing-of-the-ipo", "type": "clause", "offset": [13, 31]}, {"key": "board-shall", "type": "definition", "offset": [37, 48]}, {"key": "consist-of", "type": "clause", "offset": [49, 59]}, {"key": "the-final", "type": "clause", "offset": [233, 242]}, {"key": "independent-director", "type": "clause", "offset": [243, 263]}, {"key": "one-year-period", "type": "definition", "offset": [276, 291]}, {"key": "commencing-on-the", "type": "clause", "offset": [292, 309]}, {"key": "class-a-common-stock", "type": "clause", "offset": [324, 344]}, {"key": "the-new-york-stock-exchange", "type": "clause", "offset": [358, 385]}, {"key": "approval-of", "type": "definition", "offset": [407, 418]}, {"key": "a-majority", "type": "clause", "offset": [419, 429]}, {"key": "sponsor-directors", "type": "definition", "offset": [437, 454]}, {"key": "classes-of-directors", "type": "clause", "offset": [553, 573]}, {"key": "initial-term", "type": "clause", "offset": [677, 689]}, {"key": "of-the-company", "type": "clause", "offset": [709, 723]}, {"key": "meeting-of-stockholders", "type": "clause", "offset": [746, 769]}, {"key": "subject-to-section", "type": "clause", "offset": [1109, 1127]}, {"key": "the-certificate-of-incorporation", "type": "clause", "offset": [1201, 1233]}, {"key": "audit-committee-of-the-board", "type": "clause", "offset": [1272, 1300]}, {"key": "comprised-of", "type": "clause", "offset": [1310, 1322]}, {"key": "that-\u2587", "type": "clause", "offset": [1375, 1381]}, {"key": "appointment-of-the", "type": "clause", "offset": [1489, 1507]}, {"key": "compensation-committee-of-the-board", "type": "clause", "offset": [1569, 1604]}, {"key": "nominating-and-governance-committee", "type": "definition", "offset": [1698, 1733]}], "hash": "f700bd3c20419e48d6443c3ac108f23b", "id": 5}, {"snippet": "Except as expressly set forth in this Section 7.05, all reports, drafts, statements, data, certifications or other information required to be delivered to a Party pursuant to this Section 7.05 shall be required to be delivered to the designees of such Party set forth on Schedule XVI. Each Party may, by notice to the other Party, change the designees to which such information is required to be delivered.", "size": 8, "samples": [{"hash": "i3jXj7i0DeX", "uri": "/contracts/i3jXj7i0DeX#designees", "label": "Separation Agreement (MiniMed Group, Inc.)", "score": 37.1834373474, "published": true}, {"hash": "bfPRcfkiiZH", "uri": "/contracts/bfPRcfkiiZH#designees", "label": "Separation Agreement (MiniMed Group, Inc.)", "score": 36.9644088745, "published": true}, {"hash": "ikHGCOlfoyn", "uri": "/contracts/ikHGCOlfoyn#designees", "label": "Separation Agreement (Kenvue Inc.)", "score": 34.3470230103, "published": true}], "snippet_links": [{"key": "information-required", "type": "clause", "offset": [115, 135]}, {"key": "a-party", "type": "clause", "offset": [155, 162]}, {"key": "pursuant-to", "type": "definition", "offset": [163, 174]}, {"key": "such-party", "type": "clause", "offset": [247, 257]}, {"key": "on-schedule", "type": "definition", "offset": [268, 279]}, {"key": "each-party", "type": "clause", "offset": [285, 295]}, {"key": "notice-to-the", "type": "clause", "offset": [304, 317]}, {"key": "other-party", "type": "definition", "offset": [318, 329]}, {"key": "such-information", "type": "definition", "offset": [361, 377]}], "hash": "9130617d73f02a630612da8dbf971f4d", "id": 6}, {"snippet": "Individuals specified in this directive may delegate stated responsibilities to another person or persons unless otherwise directed.", "size": 6, "samples": [{"hash": "DjhW1IYQvy", "uri": "/contracts/DjhW1IYQvy#designees", "label": "Ada Accommodations", "score": 32.1903190613, "published": true}, {"hash": "8Kc60KVXGLH", "uri": "/contracts/8Kc60KVXGLH#designees", "label": "Administrative Directive", "score": 32.1277313232, "published": true}, {"hash": "78mzBcYXLnk", "uri": "/contracts/78mzBcYXLnk#designees", "label": "Electronic Detention Directive", "score": 29.2320671082, "published": true}], "snippet_links": [{"key": "person-or-persons", "type": "clause", "offset": [88, 105]}], "hash": "b0814d4e56a65ab813dce8b12c2fc995", "id": 7}, {"snippet": "The Agency, or their designee, shall have the authority to act for and exercise any of the rights of the Agency as set forth in this Agreement, subsequent to and in accordance with the written authority granted by the Governing Board of the Agency through adoption of a Resolution, a copy of which writing shall be delivered to PARS. Any officer of PARS, or his or her designees, shall have the authority to act for and exercise any of the rights of PARS as set forth in this Agreement.", "size": 5, "samples": [{"hash": "ipJVPNfQCca", "uri": "/contracts/ipJVPNfQCca#designees", "label": "Administrative Services Agreement", "score": 33.4339485168, "published": true}, {"hash": "fks8hXiuXA6", "uri": "/contracts/fks8hXiuXA6#designees", "label": "Administrative Services Agreement", "score": 29.823551178, "published": true}, {"hash": "5YFBftGXjN0", "uri": "/contracts/5YFBftGXjN0#designees", "label": "Administrative Services Agreement", "score": 29.0312614441, "published": true}], "snippet_links": [{"key": "the-agency", "type": "clause", "offset": [0, 10]}, {"key": "authority-to-act", "type": "clause", "offset": [46, 62]}, {"key": "and-exercise", "type": "clause", "offset": [67, 79]}, {"key": "rights-of-the", "type": "clause", "offset": [91, 104]}, {"key": "in-this-agreement", "type": "definition", "offset": [125, 142]}, {"key": "in-accordance-with", "type": "definition", "offset": [162, 180]}, {"key": "granted-by", "type": "definition", "offset": [203, 213]}, {"key": "board-of", "type": "definition", "offset": [228, 236]}, {"key": "a-copy-of", "type": "clause", "offset": [282, 291]}], "hash": "1e90fffd2456eb1da2d4adf65f826722", "id": 8}, {"snippet": "(a) Upon the closing of the IPO, the Board shall consist of nine directors, including \u2587\u2587\u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587, S. \u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587., \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 and \u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587 (the \u201cInitial Directors\u201d). Of the Initial Directors, \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587, S. \u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587., \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 and \u2587\u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587\u2587\u2587\u2587 are each deemed to be designees of Q-Jagged Peak. From and after the closing of the IPO, the rights of Q-Jagged Peak to designate directors to the Board shall be as set forth in the remainder of this Section 2.2.\n(b) The Company and the Principal Stockholders shall take all Necessary Action to cause the Board to include the Chief Executive Officer of the Company.\n(c) The Company, Management Holdco and Management shall take all Necessary Action to cause the Board to include a number of directors designated by Q-Jagged Peak (each such director, a \u201cQuantum Director\u201d) such that:\n(i) at least a majority of the directors on the Board are Quantum Directors for so long as Q-Jagged Peak and its Affiliates collectively Beneficially Own at least 50% of the outstanding shares of Common Stock;\n(ii) at least 35% of the directors of the Board are Quantum Directors for so long as Q-Jagged Peak and its Affiliates collectively Beneficially Own less than 50% but at least 25% of the outstanding shares of Common Stock; and\n(iii) at least one director of the Board is a Quantum Director for so long as Q-Jagged Peak and its Affiliates collectively Beneficially Own less than 25% but at least 5% of the outstanding shares of Common Stock. If Q-Jagged Peak and its Affiliates collectively Beneficially Own less than 5% of the outstanding shares of Common Stock, Q-Jagged Peak shall not be entitled to designate a nominee. For purposes of calculating the number of Quantum Directors that Q-Jagged Peak is entitled to designate pursuant to this Section 2.2(c), any fractional amounts shall automatically be rounded upward to the nearest whole number of Quantum Directors that is greater than such fractional amount, and any such calculations shall be made on a pro forma basis. For the avoidance of doubt, the rights granted to Q-Jagged Peak to designate members of the Board are additive to, and not intended to limit in any way, the rights that Q-Jagged Peak or its Affiliates may have to nominate, elect or remove directors under the Company\u2019s certificate of incorporation, bylaws or the Delaware General Corporation Law. The Company agrees, to the fullest extent permitted by applicable law (including with respect to any applicable fiduciary duties under Delaware law), that taking all Necessary Action to effectuate the above shall include (A) including the persons designated pursuant to this Section 2.2(c) in the slate of nominees recommended by the Board for election at any meeting of stockholders called for the purpose of electing directors, (B) nominating and recommending each such individual to be elected as a director as provided herein and (C) soliciting proxies or consents in favor thereof. The Company is entitled to identify such individual as a Quantum Director pursuant to this Agreement.\n(d) At any time the members of the Board are allocated among separate classes of directors, (i) the Quantum Directors shall be evenly distributed in different classes of directors to the extent practicable and (ii) after taking into account clause (i) of this Section 2.2(d), Q-Jagged Peak shall be permitted to designate the class or classes to which each Quantum Director shall be allocated.\n(e) Q-Jagged Peak shall have the right to remove any Quantum Director (with or without cause) appointed by it, from time to time and at any time, from the Board, exercisable upon written notice to the Company, and the Company shall take all Necessary Action to cause such removal.\n(f) In the event that a vacancy is created on the Board by the death, disability, resignation or removal (whether by Q-Jagged Peak or otherwise in accordance with the Company\u2019s certificate of incorporation and bylaws, as either may be amended or restated from time to time) of a Quantum Director, Q-Jagged Peak shall be entitled to designate an individual to fill the vacancy so long as the total number of persons that will serve on the Board as designees of Q-Jagged Peak immediately following the filling of such vacancy will not exceed the total number of persons Q-Jagged Peak is entitled to designate pursuant to Section 2.2(c) on the date of such replacement designation. The Company, Management Holdco and Management shall take all Necessary Action to cause such replacement designee to become a member of the Board.\n(g) If (i) at the time of any annual meeting of the Company held for the election of directors, Q-Jagged Peak and its Affiliates collectively Beneficially Own less than 50% of the outstanding shares of Common Stock but more than 35% of the outstanding shares of Common Stock, then if requested by the Company, Quantum shall take such actions as are reasonably necessary to remove such excess Quantum Directors from the Board and (ii) at any time the number of Quantum Directors exceeds the number of Quantum Directors that Q-Jagged Peak is then entitled to designate to the Board and at such time Q-Jagged Peak and its Affiliates collectively Beneficially Own less than 35% of the outstanding shares of Common Stock, then if requested by the Company, Quantum shall take such actions as are reasonably necessary to remove such excess Quantum Directors 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