Common use of Establishment and Composition Clause in Contracts

Establishment and Composition. Within five (5) business days after the Effective Date, the Parties shall establish a joint steering committee (the “Joint Steering Committee”), which shall consist of at least two (2) members from each Party being at least at a vice president level and not more than four (4) members in total from each Party. Each of Acura and King may replace any or all of its representatives on the Joint Steering Committee at any time upon written notice to the other Party. A Party may designate a substitute to temporarily attend and perform the functions of such Party’s designee at any meeting of the Joint Steering Committee. Acura and King each may, on advance written notice to the other Party, invite non-member representatives of such Party to attend meetings of the Joint Steering Committee. The Joint Steering Committee shall be chaired by a representative of King. The chairperson shall appoint a secretary of the Joint Steering Committee, who shall be a representative of King.