Common use of Representation on the Board of Directors Clause in Contracts

Representation on the Board of Directors. The Company and the principal shareholders of the Company shall use their best efforts to cause to be elected to the Company’s Board of Directors three persons acceptable to the Company and who are designated, from time to time, by the Placement Agent on behalf of the Subscribers. The Company shall reimburse such representatives for his or her reasonable out-of-pocket expenses incurred in connection with attending meetings of the Company’s Board of Directors. The Placement Agent’s right to designate representatives on the Company’s Board of Directors shall terminate two (2) years after the initial closing of the Offering.

Representation on the Board of Directors. The Company and the principal shareholders of the Company shall use their best efforts to cause to be elected to the Company’s 's Board of Directors three persons one person acceptable to the Company and who are is designated, from time to time, by the Placement Agent on behalf of the Subscribers. The Company shall reimburse such representatives representative for his or her reasonable out-of-pocket expenses incurred in connection with attending meetings of the Company’s 's Board of Directors. The Placement Agent’s 's right to designate representatives a representative on the Company’s 's Board of Directors shall terminate two (2) years after the initial closing of the Offering.

Representation on the Board of Directors. The Company and the principal shareholders of the Company shall use their best efforts to cause to be elected to the Company’s Board of Directors three two persons acceptable to the Company and who are designated, from time to time, by the Placement Agent on behalf of the Subscribers. The Company shall reimburse such representatives for his or her reasonable out-of-pocket expenses incurred in connection with attending meetings of the Company’s Board of Directors. The Placement Agent’s right to designate representatives on the Company’s Board of Directors shall terminate two (2) years after the initial closing of the Offering.