Rule 16b. 3. Prior to the Effective Time, XETA and the XETA Board of Directors or committees thereof shall use their reasonable best efforts to take all actions to cause any dispositions of the Common Shares (including derivative securities with respect thereto) resulting from the Transactions by each individual who is subject to the reporting requirements of Section 16(a) of Exchange Act to be exempt from Section 16(b) of the Exchange Act under Rule 16b-3 under the Exchange Act.
Appears in 2 contracts
Sources: Merger Agreement (PAETEC Holding Corp.), Merger Agreement (Xeta Technologies Inc)