Compensation and Audit Committees Clause Samples

Compensation and Audit Committees. At least two (2) of the Purchaser Directors shall be members of the compensation committee of the Board of Directors. At least one (1) of the Purchaser Directors shall be a member of each of the audit committee and any other material committee of the Board of Directors. At least one (1) member of the compensation committee shall be a Board member representing SGC Partners I LLC. Each committee shall consist of no more than three (3) members.

Compensation and Audit Committees. The Company will promptly --------------------------------- after the Closing Date establish and thereafter at all times maintain a Compensation Committee and an Audit Committee of the Board of Directors of the Company. At least a majority of the members of each such committee shall consist of directors who are not members of management of the Company. The Compensation Committee shall make recommendations t the Board of Directors regarding all matters of compensation for the officers of the Company and stock options for employees of the Company.

Compensation and Audit Committees. The Company shall maintain a Compensation Committee and an Audit Committee of the Board of Directors, each of which shall have no more than three members, none of whom shall be employees of the Company or any Subsidiary, and each of which shall include one Series B Designee as a member thereof. The Compensation Committee shall be charged with, among other things, the administration of all equity compensation plans and arrangements and will also approve or recommend to the Board of Directors all management compensation levels and arrangements. The Audit Committee will select the Company’s auditor and will approve the scope of the Company’s annual audit.

Compensation and Audit Committees. The Company shall maintain a Compensation Committee and an Audit Committee of the Board of Directors, each of which shall consist of three directors, two of whom (on each Committee) may be directors elected solely by the holders of Common Stock or appointed by the members of the Board of Directors (provided that one of such two committee members is not an employee of the Company) and one of whom (on each Committee) shall be a director who represents the Investors (but only if the Investors shall then be represented on the Board of Directors). No additional employee stock option plan, or employee stock purchase plan, employee restricted stock plan or other employee stock plan shall be established without the approval of the Compensation Committee. The Audit Committee shall select (subject to the approval of the Board of Directors) and provide instructions to the Company's auditors. The compensation of all officers and senior management of the Company will be as determined from time to time by the Compensation Committee of the Board of Directors.

Compensation and Audit Committees. The Company shall, by amending its By-laws or otherwise, establish and maintain a Compensation Committee and an Audit Committee of the Board of Directors, each of which shall consist of three directors, two of whom (on each Committee) may be directors elected solely by the holders of Common Stock or appointed by the members of the Board of Directors (provided that one of such two committee members is not an employee or Founder (as hereinafter defined) of the Company) and one of whom (on each Committee) shall be a Series A Board Member (as provided by the Preferred Stock Purchase Agreement). No additional employee stock option plan, or employee stock purchase plan, employee restricted stock plan or other employee stock plan shall be established without the approval of the Compensation Committee. The Audit Committee shall select (subject to the approval of the Board of Directors) and provide instructions to the Company's auditors.

Compensation and Audit Committees. The Company shall, by amending its By-laws or otherwise, maintain a Compensation Committee and an Audit Committee of the Board of Directors, each of which shall consist of two non-management directors and which currently consist of ▇▇▇▇ ▇▇▇▇▇▇ and ▇▇▇▇▇▇▇▇▇▇▇ Linen on the Compensation Committee and ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ and ▇▇▇▇ ▇▇▇▇▇▇ on the Audit Committee. No increase in compensation, bonuses or other remuneration shall be paid to, and no capital stock or options to acquire capital stock of the Company shall be issued or granted to, any director or executive officer of the Company or any of its subsidiaries, without the approval of the Compensation Committee. No employee stock option plan, employee stock purchase plan, employee restricted stock plan or other employee stock plan shall be established without the approval of the Compensation Committee. The Audit Committee shall select (subject to the approval of the Board of Directors) and provide instructions to the Company's auditors and shall approve the Company's annual audit prior to its issuance each year.

Compensation and Audit Committees. The Company shall, by amending its By-laws or otherwise, establish and maintain a Compensation Committee and an Audit Committee of the Board of Directors, each of which shall consist of two non-management directors. No increase in compensation, bonuses or other remuneration shall be paid to, and no capital stock or options to acquire capital stock of the Company shall be issued or granted to, any director or executive officer of the Company or any of its subsidiaries, without the approval of the Compensation Committee. No employee stock option plan, employee stock purchase plan, employee restricted stock plan or other employee stock plan shall be established without the approval of the Compensation Committee. The Audit Committee shall select (subject to the approval of the Board of Directors) and provide instructions to the Company's auditors and shall approve the Company's annual audit prior to its issuance each year.

Compensation and Audit Committees. The Company shall have established a Compensation Committee (the "Compensation Committee") and an Audit Committee (the "Audit Committee") of its Board of Directors, each of which shall be comprised of three members in accordance with Section 4.4 hereof.

Compensation and Audit Committees. The Company shall maintain a Compensation Committee and an Audit Committee of the Board of Directors, each of which shall consist of two non-management directors and which currently consist of ▇▇▇▇ ▇▇▇▇▇▇ and ▇▇▇▇▇▇▇▇▇▇▇ Linen on the Compensation Committee and ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ and ▇▇▇▇ ▇▇▇▇▇▇ on the Audit Committee. No increase in compensation, bonuses or other remuneration shall be paid to, and no capital stock or options to acquire capital stock of the Company shall be issued or granted to, any director or executive officer of the Company or any of its subsidiaries, without the approval of the Compensation Committee. No employee stock option plan, employee stock purchase plan, employee restricted stock plan or other employee stock plan shall be established without the approval of the Compensation Committee. The Audit Committee shall select (subject to the approval of the Board of Directors) and provide instructions to the Company's auditors and shall approve the Company's annual audit prior to its issuance each year.