Board of Directors of Parent. Upon the consummation of the Offer or as soon as practicable thereafter, Parent shall use its best efforts and take all reasonable steps to cause (a) ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ to be appointed a member and Vice Chairman and ▇▇▇▇▇ ▇. ▇▇▇▇▇ to be appointed a member, of the Board of Directors of Parent; and (b) the bylaws of Parent to be amended to modify the eligibility requirements of directors to permit ▇▇. ▇▇▇▇▇▇▇▇ to continue to be eligible to serve as a director through 2001, without prejudice or commitment with respect to any further continuation of eligibility thereafter.
Appears in 3 contracts
Sources: Agreement and Plan of Merger (Loral Corp /Ny/), Merger Agreement (Lockheed Martin Corp), Merger Agreement (Lockheed Martin Corp)