Common use of Initial Composition Clause in Contracts

Initial Composition. As of the Effective Time, the board of directors of the Company (the “Board”) shall consist of seven (7) directors, a majority of whom shall be “independent” directors for purposes of NYSE rules (each, an “Independent Director”), to initially consist of: (i) One (1) director to be nominated by ▇▇▇▇▇▇▇▇ ▇▇▇▇ (the “Gaur Nominee”); (ii) One (1) director to be nominated by Remus Capital (the “Remus Nominee”); (iii) One (1) director to be nominated by the Sponsor (the “Sponsor Nominee”); (iv) One (1) Independent Director to be nominated by ▇▇▇▇▇▇▇▇ ▇▇▇▇ (the “Gaur Independent Nominee”); (v) One (1) Independent Director to be nominated by Remus Capital (the “Remus Independent Nominee”); and (vi) Two (2) Independent Directors to be nominated by ▇▇▇▇▇▇▇▇ (the “Company Independent Nominees”), one of which is to be designated by RTW in accordance with the RTW Side Letter (the “RTW Designated Director”); in each case, who shall serve in such capacity in accordance with the terms of this Agreement, the Business Combination Agreement, the Pubco Governing Documents (as defined in the Business Combination Agreement), applicable law and NYSE rules.