Common use of Initial Board Composition Clause in Contracts

Initial Board Composition. Upon the Closing, the Board of Directors shall consist of 13 members, with the two additional members nominated by the Purchaser (the “Purchaser Nominees” ) in additions to the exiting 11 members of the Board of Directors. Each Purchaser Nominee must be eligible to serve on a NYSE-listed company board of directors under applicable Law, Commission rules, the New York Stock Exchange rules, and the nomination criteria policies of the Corporate Governance and Nominating Committee of the Board of Directors in effect as of the date of this Agreement. Such two additional directors shall be allocated as evenly as possible into the Company’s three-class staggered board structure.

Initial Board Composition. Upon the Closing, the Board of Directors shall consist of 13 members, with the two additional members nominated by the Purchaser (the “Purchaser Nominees” ”) in additions addition to the exiting 11 members of the Board of Directors. Each Purchaser Nominee must be eligible to serve on a NYSE-listed company board of directors under applicable Law, Commission rules, the New York Stock Exchange rules, and the nomination criteria policies of the Corporate Governance and Nominating Committee of the Board of Directors in effect as of the date of this Agreement. Such two additional directors shall be allocated as evenly as possible into the Company’s three-class staggered board structure.

Initial Board Composition. Upon the Closing, the Board of Directors shall consist of 13 members, with the two additional members nominated by the Purchaser (the “"Purchaser Nominees” ") in additions to the exiting 11 members of the Board of Directors. Each Purchaser Nominee must be eligible to serve on a NYSE-listed company board of directors under applicable Law, Commission rules, the New York Stock Exchange rules, and the nomination criteria policies of the Corporate Governance and Nominating Committee of the Board of Directors in effect as of the date of this Agreement. Such two additional directors shall be allocated as evenly as possible into the Company’s 's three-class staggered board structure.