Percent Beneficial Ownership of

Common Stock held by the Meridian

Sellers

Total Directors on the Board of Directors

Total Directors the Holders of the

Series C Preferred Stock Can Appoint 

Greater than 40%

Five

Two

Less than five

One

40% or less, but at least 10%

Any number

One

Less than 10%

Any number

None (because under that threshold, the Series C Preferred Stock automatically converts into common stock, meaning the Director-appointment right terminates)