Common use of STAGGERED BOARD OF DIRECTORS Clause in Contracts

STAGGERED BOARD OF DIRECTORS. At the Effective Date, Newco's Board of Directors shall be classified into three classes consisting of Classes A, B and C, with each class serving for staggered three year terms. As an initial matter, the Directors in Class A will serve for a term ending at Newco's annual meeting of stockholders in 1999; the Directors in Class B will serve for a term ending at Newco's annual meeting of stockholders in 2000; and the Directors in Class C will serve for a term ending at Newco's annual meeting of stockholders in 2001. At the Effective Date, the class A Directors shall consist of Gregxxx Xxxxxxx, Xxofxxxx Xxxxxx xxx Roel Xxxxxx; xxe Class B Directors shall consist of Mark Xxxxxx, Xxsexx Xxxxx, Xxllxxx Xxxxxxx xxx Terexxx X. Xxxxxxxxxx; xxd the Class C Directors shall consist of Stepxxx Xxxxxx, Xxed xxx den Bosch and Stepxxx X. Xxxxx.

STAGGERED BOARD OF DIRECTORS. At the Effective Date, Newco's Board of Directors shall be classified into three classes consisting of Classes A, B and C, with each class serving for staggered three year terms. As an initial matter, the Directors in Class A will serve for a term ending at Newco's annual meeting of stockholders in 1999; the Directors in Class B will serve for a term ending at Newco's annual meeting of stockholders in 2000; and the Directors in Class C will serve for a term ending at Newco's annual meeting of stockholders in 2001. At the Effective Date, the class A Directors shall consist of Gregxxx Xxxxxxx Xxxxxxx, Xxofxxxx Xxxxxxxx Xxxxxx xxx Roel and Xxxx Xxxxxx; xxe the Class B Directors shall consist of Mark Xxxx Xxxxxx, Xxsexx Xxxxxx Xxxxx, Xxllxxx Xxxxxxx xxx Terexxx Xxxxxxx and Xxxxxxx X. Xxxxxxxxxx; xxd and the Class C Directors shall consist of Stepxxx Xxxxxxx Xxxxxx, Xxed xxx Xxxx van den Bosch and Stepxxx Xxxxxxx X. Xxxxx.