Orchid Cellmark and Accipiter Capital Management have reached an agreement in connection with the nomination of candidates for election to Orchid Cellmark’s board of directors.
Pursuant to the agreement, Accipiter will nominate two individuals for election to the Orchid Cellmark board.
Such nominees will serve as class I directors of the company with three-year terms ending in 2013.
Orchid Cellmark’s 2010 annual meeting of stockholders is scheduled for 9 November 2010.
Subsequent to the 2010 annual meeting, Orchid Cellmark will engage a consultant to conduct a board compensation study and will implement compensation and stock ownership guidelines requiring all board members to be in compliance with such guidelines within the earlier of nine months of the adoption of the guidelines or the date of the 2011 annual meeting of stockholders.
Orchid Cellmark is a provider of DNA testing services primarily for forensic and family relationship applications.
Accipiter Capital Management is a New York-based investment manager of certain of the Accipiter family of private investment funds.
