Delaware GCL § 141(d)
Authorizes classified boards

Delaware GCL § 141(k)(1)
Limits removal of classified directors from board

Delaware makes changes to the DGCL

• Effective 8.01.06

• Revises DGCL § 141(d)

Many companies are declassifying their boards

Sotheby's Holdings - Board Declassification

Layne Christensen Company - Board Declassification

Pepco Holdings - Board Declassification

SEC_CODE_REF_0090001192884

Duke Energy - Board Declassification

Lacos Land v Lone Star (New York Trap Rock)
(SD NY 1992)

Prickett v American Steel & Pump (Del Ch 1969)

Elgin National v Chemetron (D  Del 1969)

MacAndrews & Forbes Holdings v Revlon aff'd (Del 1986)

Tankersley v Albright aff'd in part, rev'd in part As Modified on Denial of Rehearing April 11, 1975 (7^th Circuit 1975)

Edelman v Salomon (D Del 1983)

Blanchette v Providence & Worcester (D Del 1977)

Chesapeake v Shore 771 A2d 293

Centaur Partners v National Intergroup (Del 1990)

Delaware General Corporation Law