Board Permission Clause Samples
The Board Permission clause establishes that certain actions or decisions require the formal approval of a company's board of directors before they can proceed. In practice, this clause typically applies to significant matters such as major financial transactions, changes in company policy, or entering into key contracts, ensuring that these decisions are not made unilaterally by management or individual directors. Its core function is to provide oversight and collective decision-making at the board level, thereby reducing risk and promoting responsible governance within the organization.
Board Permission. Without limiting this Section 7.3, Executive may, in his sole discretion, bring proposed activities of a Covered Entity to the attention of the Board and request that the Board review the proposed activities upon full disclosure to the Board of all material facts concerning the proposed activity, and inform the Executive in writing as to whether such proposed activities violate this Section 7.3. The Board’s written determination in this matter shall not be unreasonably withheld and it shall conclusively bind the parties hereto.
Board Permission. Without limiting this Section 4(c), Employee may, in Employee’s sole discretion, bring proposed activities of a Covered Entity to the attention of the Board and request that the Board review the proposed activities upon full disclosure to the Board of all material facts concerning the proposed activity, and inform the Employee in writing as to whether such proposed activities violate this Section 4(c). The Board’s written determination in this matter shall not be unreasonably withheld and it shall conclusively bind the parties hereto