Common use of Board Committees Clause in Contracts

Board Committees. (1) Prior to the consummation of the Initial Public Offering, the following standing committees of the Board (each, a “Committee”) shall be established to advise and report to the Board on the matters as are, and to otherwise exercise such power and authority as is, delegated to such Committees by the Board. Upon the consummation of the Initial Public Offering such committees shall be comprised of the below noted Directors: Audit Committee ▇▇▇▇ ▇▇▇▇▇ (Chair) ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ NGC Committee ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ (Chair) ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ (2) All members of the Committees shall be selected by the Board and shall have such qualifications as may be required by applicable law and the rules of any securities exchange on which the Corporation’s shares are listed for trading to serve on such committees.