Common use of Board Support Clause in Contracts

Board Support. At the Corporation’s 2023 Annual Meeting and 2025 Annual Meeting of Stockholders, the Corporation agrees to recommend, support and solicit proxies for the election of the New Director in the same manner as the Corporation recommends, supports and solicits proxies for the election of the Corporation’s other director nominees. The Corporation agrees that the New Director, upon his election to the Board shall receive (i) the same benefits of director and officer insurance as all other non-management directors on the Board, (ii) the same compensation for his service as a director as the compensation received by other non-management directors on the Board, and (iii) such other benefits on the same basis as all other non-management directors on the Board.

Appears in 1 contract

Sources: Cooperation Agreement (First of Long Island Corp)

Board Support. At the 2022 Annual Meeting and the Corporation’s 2023 Annual Meeting and 2025 Annual Meeting of StockholdersShareholders, the Corporation agrees to recommend, support and solicit proxies for the election of the New Director Directors in the same manner as the Corporation recommends, supports and solicits proxies for the election of the Corporation’s other director nominees. The Corporation agrees that the each New Director, upon his election or her appointment to the Board shall receive (i) the same benefits of director and officer insurance as all other non-management directors on the Board, (ii) the same compensation for his or her service as a director as the compensation received by other non-management directors on the Board, and (iii) such other benefits on the same basis as all other non-management directors on the Board.

Appears in 1 contract

Sources: Cooperation Agreement (Codorus Valley Bancorp Inc)