Common use of Section 16b-3 Clause in Contracts

Section 16b-3. The Board or a committee of the Board composed solely of two or more Non-Employee Directors (as defined in Rule 16b-3 promulgated under the Exchange Act) shall have adopted resolutions exempting the Exchange under Rule 16b-3 promulgated under the Exchange Act; and

Appears in 2 contracts

Sources: Exchange Agreement (Malone John C), Exchange Agreement (Liberty Media Corp)

Section 16b-3. The Unless D▇. ▇▇▇▇▇▇ no longer serves as an officer or director of the Company, the Board or a committee of the Board composed solely of two or more Non-Employee Directors (as defined in Rule 16b-3 promulgated under the Exchange Act) shall have adopted resolutions exempting the Exchange under Rule 16b-3 promulgated under the Exchange Act; and

Appears in 1 contract

Sources: Exchange Agreement (Liberty Broadband Corp)