Initial Board Composition. Effective as of the Closing, the Company Board shall initially consist of nine (9) members comprised of (i) five directors designated by ▇▇▇▇▇▇▇ as follows: (A) ▇▇▇▇ ▇. ▇▇▇▇▇ (the “Old Aspen Tech Chair”), the chair of the Old Aspen Tech board of directors (the “Old Aspen Tech Board”) as of the date of the Transaction Agreement, who shall be the initial chair of the Company Board, (B) one director designated by ▇▇▇▇▇▇▇, and (C) three (3) directors designated by ▇▇▇▇▇▇▇ after consultation with the Old Aspen Tech Chair (it being understood that, as of the date of the Transaction Agreement, it was ▇▇▇▇▇▇▇’▇ expectation that the persons in this clause (C) would be (x) members of the Old Aspen Tech Board or
Appears in 3 contracts
Sources: Transaction Agreement and Plan of Merger (Emersub CX, Inc.), Transaction Agreement and Plan of Merger (Emerson Electric Co), Transaction Agreement and Plan of Merger (Aspen Technology Inc /De/)