Common use of Observer Rights Clause in Contracts

Observer Rights. The Company shall, for a period of one year from the Effective Date, grant the Representative the right to send a representative to observe each meeting of the Company’s board of directors; provided, that (i) such representative shall sign a Regulation FD compliant confidentiality agreement which is reasonably acceptable to the Representative and its counsel; (ii) upon written notice to the representative, the Company may exclude such representative from meetings where, upon the written opinion of Company’s counsel, such representative’s presence would compromise an attorney-client privilege. The Company agrees to give the Representative written notice of each such meeting and to provide the Representative with an agenda and minutes of the meeting no later than it gives such notice and provides such items to the other directors, and reimburse the representative of the Representative for its reasonable out-of-pocket expenses incurred in connection with its attendance at the meeting, including but not limited to, food, lodging and transportation, as well as the same meeting fees or compensation paid to non-employee directors of the Company.

Observer Rights. The Company shall, for a period of one year from the Effective Date, grant the Representative the right to send a representative to observe each meeting of the Company’s board of directors; provided, that (i) such representative shall sign a Regulation FD compliant confidentiality agreement which is reasonably acceptable to the Representative and its counsel; (ii) upon written notice to the representative, the Company may exclude such representative from meetings where, upon the written opinion of Company’s counsel, such representative’s presence would compromise an attorney-client privilege. The Company agrees to give the Representative written notice of each such meeting and to provide the Representative with an agenda and minutes of the meeting no later than it gives such notice and provides such items to the other directors, and reimburse the representative of the Representative for its reasonable out-of-pocket expenses incurred in connection with its attendance at the meeting, including but not limited to, food, lodging and transportation, as well as the same meeting fees or compensation paid to non-employee directors of the Company.