Common use of Stockholder Designees Clause in Contracts

Stockholder Designees. The Stockholder shall have the right to designate: (i) five (5) individuals to serve on the Board for so long as the Stockholder owns not less than 50.00% of the Common Stock held by the Stockholder on the date hereof, (ii) four (4) individuals to serve on the Board for so long as the Stockholder owns not less than 40.00% of the Common Stock held by the Stockholder on the date hereof, (iii) three (3) individuals to serve on the Board for so long as the Stockholder owns not less than 33.33% of the Common Stock held by the Stockholder on the date hereof, (iv) two (2) individuals to serve on the Board for so long as the Stockholder owns not less than 20% of the Common Stock held by the Stockholder on the date hereof, (v) one (1) individual to serve on the Board for so long as the Stockholder owns not less than 10% of the Common Stock held by the Stockholder on the date hereof and (vi) no individuals to serve on the Board if the Stockholder owns less than 10% of the Common Stock held by the Stockholder on the date hereof (in each instance, such designated individuals, the “Stockholder Designees”).