ORCT » Topics » Item 1 - Election of Directors

This excerpt taken from the ORCT 6-K filed Mar 30, 2007.

Item 1 – Election of Directors

        At the Meeting, the shareholders will be asked to re-elect each of Eric Paneth, Izhak Tamir, Jed M. Arkin and Moti Motil to our Board of Directors to serve until the next Annual General Meeting or his earlier resignation or removal. Messrs. Arkin and Motil are “independent directors” as defined by the Nasdaq rules. Our “outside directors” as defined by the Israeli Companies Law, 5759-1999 (the “Companies Law”), Miri Gelbman and Moshe Nir, will continue to serve their second three-year term ending in 2008. The Companies Law requires at least two outside directors. Our outside directors are also independent directors under the Nasdaq rules. These nominees have been approved by our audit committee, acting as our nominating committee as required by the Nasdaq rules.

        A brief biography of each nominee is set forth below:

        Eric Paneth has been Chairman of the Board of Directors and Chief Executive Officer of Orckit since its founding in 1990. From 1975 until 1983, Mr. Paneth was a senior engineer in the Israeli Government, and from 1985 to 1990, was a technical department head in the Israeli Government. From 1983 until 1985, he was employed by Linkabit Inc., in San Diego, California. Mr. Paneth holds an advanced engineering degree from the Israel Institute of Technology, commonly known as the Technion. Since January 2000, Mr. Paneth has been a director of Tikcro Technologies Ltd.

        Izhak Tamir has been President and a Director of Orckit since its founding in 1990. From 1987 until 1989, Mr. Tamir was employed by Comstream Inc., in San Diego, California. From 1985 until 1987, he was vice president of A.T. Communication Channels Ltd., a subsidiary of Bezeq. From 1978 to 1985, he was a senior engineer in the Israeli Government. Mr. Tamir holds an engineering degree from the Technion and an M.B.A. from Tel Aviv University. Mr. Tamir has been chairman of the board of directors of Tikcro since January 2000 and its chief executive officer since August 2003. Mr. Tamir has served as a Director of Gilat Satellite Networks Ltd. and of Scopus Video Networks since 2005.

        Jed M. Arkin has been a Director of Orckit since August 2001. Since January 2000, Mr. Arkin has served as Chairman of MadahCom Inc., a manufacturer of digital wireless public alerting systems. Since March 2005, he has served as a director of Shamir Optical Industries. Since January 2005 he has been a director, and is currently Chairman, of Mosaic Crystals Ltd., a developer of Gallium Nitride semiconductor materials. From 1999 to 2001, he served as General Manager of merchant banking for Oscar Gruss & Son, a New York-based investment bank.  From 1995 to 1998, Mr. Arkin served as Vice President of The Challenge Fund, an Israeli venture capital firm. He holds a B.A. from St. John’s College in Annapolis, Maryland, an M.B.A. from Harvard Business School and a J.D. from Harvard Law School.

        Moti Motil has been a Director of Orckit since November 2002. Mr. Motil has served since 1996 as Vice President Finance and an associate of Palmot Ltd., an investment company based in Israel, and has also served since 2006 also as Chief Financial Officer of Gan-Bair Senior Citizen Residence Ltd., a subsidiary of Palmot Ltd. From 1991 until 1996, he served as Chief Financial Officer of the Israeli subsidiary of Jan-Bell Marketing Inc., a retail company. Mr. Motil holds a B.A. degree in economics and accounting from Tel-Aviv University and he is a C.P.A.

Required Approval

        The affirmative vote of the holders of 66-2/3% of the Ordinary Shares present, in person or by proxy, and voting on the matter is required for the approval thereof.

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Proposed Resolutions

        It is proposed that at the Meeting the following resolutions be adopted:

          “RESOLVED,that Eric Paneth be elected to the Board of Directors of the Company, effective immediately.

          RESOLVED,that Izhak Tamir be elected to the Board of Directors of the Company, effective immediately.

          RESOLVED,that Jed M. Arkin be elected to the Board of Directors of the Company, effective immediately.

          RESOLVED,that Moti Motil be elected to the Board of Directors of the Company, effective immediately.”

        The Board of Directors recommends a vote FOR approval of the proposed resolutions.

This excerpt taken from the ORCT 6-K filed May 23, 2005.

Item 1 – Election of Directors

        At the Meeting, the shareholders will be asked to re-elect each of Eric Paneth, Izhak Tamir, Jed M. Arkin and Moti Motil to our Board of Directors to serve until the next Annual General Meeting or his earlier resignation or removal.

        A brief biography of each nominee is set forth below:

        Mr. Paneth has been Chairman of the Board of Directors and Chief Executive Officer of Orckit since its founding in 1990. From 1975 until 1983, Mr. Paneth was a senior engineer in the Israeli Government, and from 1985 to 1990, was a technical department head in the Israeli Government. From 1983 until 1985, he was employed by Linkabit Inc., in San Diego, California. Mr. Paneth holds an advanced engineering degree from the Israel Institute of Technology, commonly known as the Technion. Since January 2000, Mr. Paneth has been a director of Tikcro Technologies Ltd.

        Mr. Tamir has been President and a Director of Orckit since its founding in 1990. From 1987 until 1989, Mr. Tamir was employed by Comstream Inc., in San Diego, California. From 1985 until 1987, he was vice president of A.T. Communication Channels Ltd., a subsidiary of Bezeq. From 1978 to 1985, he was a senior engineer in the Israeli Government. Mr. Tamir holds an engineering degree from the Technion and an M.B.A. from Tel Aviv University. Mr. Tamir has been chairman of the board of directors of Tikcro since January 2000 and its chief executive officer since August 2003.

        Mr. Arkin has served as Chairman of PeerPressure, Inc., a company that provides peer-to-peer content protection systems, since January 2000 and as Chairman of MadahCom Communications Ltd., a spread-spectrum communications company, since January 2000. Since March 2005, he has served as a director of Shamir Optical Industry Ltd., a Nasdaq-listed company. From 1999 to 2001, he served as General Manager of merchant banking for Oscar Gruss & Son, a New York-based investment bank. From 1995 to 1998, Mr. Arkin served as Vice President of The Challenge Fund, an Israeli venture capital firm. He holds a B.A. from St. John’s College in Annapolis, Maryland, an M.B.A. from Harvard Business School and a J.D. from Harvard Law School.

        Mr. Motil has served since 1996 as Vice President Finance and an associate of Palmot Ltd., an investment company based in Israel. From 1991 until 1996, he served as Chief Financial Officer of the Israeli subsidiary of Jan-Bell Marketing Inc., a retail company. Mr. Motil holds a B.A. degree in economics and accounting from Tel-Aviv University and he is a C.P.A.

Required Approval

        The affirmative vote of the holders of 66-2/3% of the Ordinary Shares present, in person or by proxy, and voting on the matter is required for the approval thereof.

Proposed Resolutions

        It is proposed that at the Meeting the following resolutions be adopted:

          “RESOLVED,that Eric Paneth be elected to the Board of Directors of the Company, effective immediately.

          RESOLVED,that Izhak Tamir be elected to the Board of Directors of the Company, effective immediately.

          RESOLVED,that Jed M. Arkin be elected to the Board of Directors of the Company, effective immediately.

          RESOLVED,that Moti Motil be elected to the Board of Directors of the Company, effective immediately.”

        The Board of Directors recommends a vote FOR approval of the proposed resolutions.

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EXCERPTS ON THIS PAGE:

6-K
Mar 30, 2007
6-K
May 23, 2005

RELATED TOPICS for ORCT:

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