Appointment and Nomination. Upon the Closing (as defined in the Securities Purchase Agreement), the Company's Board of Directors will be fixed at ten (10) persons and the Company will cause the following appointments to be made: (i) Three (3) Investor Group Designees shall be appointed to the Company's Board of Directors, with each such Investor Group Designee appointed to a separate class of directors. (ii) One (1) Investor Group Designee appointed to the Board pursuant to Section 3.2(a)(i) shall be appointed to the Company's nominating committee.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Hearst Communications Inc), Securities Purchase Agreement (Hearst Communications Inc)