Board Nomination. The Board shall appoint one individual nominated by a majority in interest of the holders of Preferred Shares, such nominee to be reasonably satisfactory to the Board, to serve as a member of the Board until the next annual meeting of stockholders of the Company. The Company shall enter a customary indemnification agreement in favor of such director and shall maintain at all times directors liability insurance in form and amount reasonably satisfactory to such director.
Appears in 5 contracts
Sources: Securities Purchase Agreement (Car Charging Group, Inc.), Securities Purchase Agreement (Car Charging Group, Inc.), Securities Purchase Agreement (Car Charging Group, Inc.)