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online In exchange, Baker Street and Stone House have agreed to (i) vote in accordance with the recommendations of USA Trucks board of directors at the Companys 2015 annual meeting of stockholders except with respect to certain extraordinary transactions and, in certain circumstances, the 2016 annual meeting of stockholders; (ii) abide by standstill provisions similar to those in the 2014 Cooperation Agreement during the period ending 10 days prior to the deadline for submission of stockholder nominations for the 2016 annual meeting of stockholders, which period may, in certain circumstances, be extended for an additional year; and (iii) pay certain expenses relating to the sale of shares (including the applicable discounts and commissions and a portion of road show and other expenses). In the future, if shares beneficially owned by Baker Street fall below (i) 10% of the outstanding shares of the Company as a result of sales completed under the registration statement or (ii) 50% of the aggregate number of shares currently owned by Baker Street, then Vadim Perelman will tender his resignation from the board of directors. Once the registration statement is declared effective, the Company anticipates conducting a road show with respect to the Baker Street and Stone House shares. We are pleased to have reached agreements with Baker Street and Stone House, said USA Truck Chairman Robert A. Peiser. We believe this will homepage allow us to preserve the stability of the USA Truck board while the Company continues to execute its turnaround plan and more fully realizes the potential of its business model.
More: http://finance.yahoo.com/news/usa-truck-enters-cooperation-agreements-105000107.html