Staggered Board. The parties acknowledge that the Company currently has a staggered Board of Directors, and that it is expected that Tengram always will have one (1) director serving as a Class I Director, Class II Director and Class III Director, and that Tengram always will have the right to nominate one (1) director for election to the Board at each annual meeting of stockholders.
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Sources: Stockholders Agreement (Sequential Brands Group, Inc.), Stockholders Agreement (Sequential Brands Group, Inc.)
Staggered Board. The parties acknowledge that the Company currently has a staggered Board of Directors, with two (2) directors serving as Class I Directors, Class II Directors and Class III Directors, and that it is expected that each of Tengram and the Special Nominating Committee always will have one (1) director serving as a Class I Director, Class II Director and Class III Director, and that each of Tengram and the Special Nominating Committee always will have the right to nominate one (1) director for election to the Board at each annual meeting of stockholders.
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