Common use of APPOINTMENT OF ADDITIONAL DIRECTORS Clause in Contracts

APPOINTMENT OF ADDITIONAL DIRECTORS. The Board, acting unanimously, may, between annual meetings of Shareholders, appoint one or more additional Directors to serve until the next annual meeting of Shareholders, on the condition that the number of additional Directors shall not at any time exceed one-third of the number of Directors who held office at the expiration of the last annual meeting of Shareholders.

APPOINTMENT OF ADDITIONAL DIRECTORS. The Board, acting unanimously, may, between annual meetings of Shareholders, directors may appoint one or more additional Directors to serve until directors who shall hold office for a term expiring not later than the close of the next annual meeting of Shareholdersshareholders, on but the condition that the total number of additional Directors shall directors so appointed may not at any time exceed one-one third of the number of Directors who held office directors elected at the expiration of the last previous annual meeting of Shareholdersshareholders.