English to Arabic Law/Patents Law: Contract(s)

1. The company will be managed by the management board consisting of one (1) or more managing directors A and one (1) or more managing directors B. Each managing director B must be Dutch resident in case of an individual or must be effectively managed in the Netherlands in case of a legal entity. At least half of the members of the management board shall be a managing director B. If a managing director B is no longer a Dutch resident in case of an individual, or is no longer effectively managed in the Netherlands in case of a legal entity, he/she/it shall inform the general meeting forthwith and shall resign as managing director B.