Common use of Preemptive or Other Rights Clause in Contracts

Preemptive or Other Rights. Stockholders have no preemptive or other subscription rights and there are no sinking fund or redemption provisions applicable to Class A common stock and Class B common stock. Our Board will remain divided into three classes, Class I, Class II and Class III, with only one class of directors being elected in each year and each class serving a three-year term. There will be no cumulative voting with respect to the election of directors. Under our Certificate of Incorporation, shares of preferred stock may be issued from time to time in one or more series. The Board is authorized to fix the voting rights, if any, designations, powers and preferences, the relative, participating, optional or other special rights, and any qualifications, limitations and restrictions thereof, applicable to the shares of each series of preferred stock. The Board is able to, without stockholder approval, issue preferred stock with voting and other rights that could adversely affect the voting power and other rights of the holders of the Common Stock and could have anti-takeover effects. The ability of the Board to issue preferred stock without stockholder approval could have the effect of delaying, deferring or preventing a change of control or the removal of existing management. We have no present plans to issue any shares of preferred stock.

Preemptive or Other Rights. Stockholders Our stockholders have no preemptive or other subscription rights and there are no sinking fund or redemption provisions applicable to Class A common stock and Class B common stock. Our Board will remain Charter provides that our board of directors is divided into three classes, Class I, Class II and Class III, each of which generally serves for a term of three years with only one class of directors being elected in each year and each class serving a three-year termyear. There will be is no cumulative voting with respect to the election of directors. Under our Certificate of Incorporation, Our Charter provides that shares of preferred stock may be issued from time to time in one or more series. The Board Our board of directors is authorized to fix the voting rights, if any, designations, powers powers, preferences and preferences, the relative, participating, optional or optional, special and other special rights, if any, of each such series and any qualifications, limitations and restrictions thereof, applicable to the shares . Our board of each series of preferred stock. The Board directors is able to, without stockholder approval, issue preferred stock with voting and other rights that could adversely affect the voting power and other rights of the holders of the Common Stock Class A common stock and could have anti-takeover effects. The ability of the Board our board of directors to issue preferred stock without stockholder approval could have the effect of delaying, deferring or preventing a change of control of us or the removal of existing management. We have no present plans to issue any shares preferred stock outstanding as of preferred stockthe date hereof.