Common use of Common Directors Clause in Contracts

Common Directors. With respect to the two (2) members of the Company’s Board of Directors that the Company’s Restated Certificate provides are to be elected by the holders of Common Stock, each Investor and each Common Holder hereby agrees to vote all of such Investor’s or Common Holder’s shares of Capital Stock, now owned or hereafter acquired, in favor of (a) the designee nominated by a majority of the CEO Director, the Series A Directors, the Series B Director, the Series E Director and the Outside Director (the “Common Director”), who shall initially be ▇.▇. ▇▇▇▇▇▇ and (b) the person then serving as the Company’s Chief Executive Officer (the “CEO Director”), who shall initially be ▇▇▇▇▇▇▇ ▇▇▇▇▇. If for any reason the CEO Director ceases to be an employee of the Company, each Investor and each Common Holder shall promptly vote their shares of Capital Stock (a) to remove the CEO Director from the Board of Directors if such person has not resigned as a member of the Board of Directors and (b) to elect such person’s replacement as Chief Executive Officer of the Company as the new CEO Director.

Appears in 2 contracts

Sources: Investors’ Rights Agreement (Mavenir Systems Inc), Investors’ Rights Agreement (Mavenir Systems Inc)