Director Position Sample Clauses
The Director Position clause defines the role, responsibilities, and authority of a director within an organization or company. It typically outlines the scope of the director's duties, such as overseeing management, making strategic decisions, and representing the company in official matters. This clause may also specify qualifications required for the position, the process for appointment or removal, and any limitations on the director's powers. Its core practical function is to establish clear expectations and boundaries for the director's role, ensuring effective governance and accountability within the organization.
Director Position. Board Member agrees to serve as a Board Member for the Company, on the terms and conditions set forth below.
Director Position. Executive shall be appointed to the Board of Directors of the Company promptly following the Commencement Date and shall be nominated by the Company for reelection as a director at each meeting of the stockholders at which directors are elected. Executive agrees to resign from the Board of Directors in the event he ceases to hold the offices of President and Chief Executive Officer.
Director Position. The position will be a part time position that will be renewed every 24 months. The duties of the director position will be performed by one of the full-time continuing Officer-level employees. Employees at the Assistant-level are ineligible to apply for the Director position. In the event that the staff person performing the Director duties takes a leave pursuant to the terms of Article 23, one of the other eligible Officer-level employees will assume the duties of the Director. Should the leave exceed twenty (20) working days, the employee assuming the duties for the period of the leave will be entitled to receive 1/12th of the equivalent of the stipend below for each month they are performing the Director duties. In the event that all eligible Officer-level employees are on leave, an Assistant-level employee may temporarily assume the duties of an Officer, including those of the Director. Should this situation arise, it will be brought to the EERC for discussion and decision.
Director Position. Subject to all legal limitations and conditions applicable to service as a director of CCB, (i) the Board of Directors of CCB shall nominate and use its best efforts to secure the election of Executive as a director of CCB during the term of this Agreement, and (ii) if so elected, Executive shall serve as member of Executive Committee of the Board of Directors of CCB.
Director Position. During the Executive's employment, the Executive agrees to serve as a Director of the Employer in the role of Chairman, for so long as the Executive is nominated and elected therefore.
Director Position. Following the Closing, Buyer will cause one (1) current member of the board of directors of Seller or the Bank, who is acceptable to Buyer and who satisfies the criteria for an “independent” director under applicable NASDAQ listing standards, to be elected to the board of directors of Buyer.
Director Position. Within five Business Days following the Subsequent Closing Date where the sum of the payment paid for Shares at that closing and the payments for all Shares sold in Subsequent Closings prior to that closing equals or exceeds US$5,000,000, the Investors shall designate by written notice signed by all Investors (the “Nominee Notice”) a person that the Investors propose for election to the board of directors of the Company (the “Investor Nominee”). Within 10 Business Days following the date the Company receives the Nominee Notice, the Investor Nominee shall deliver to the Company a biography covering the preceding 10 years and such other background and other information that the Company may reasonably request. Within 20 Business Days following the Company’s receipt of the Nominee Notice, the board of directors of the Company shall take all action required by its certificate of incorporation, bylaws, and applicable law to increase the number of persons then comprising the board of directors by one and electing the Investor Nominee to the vacancy thereby created. The provisions of this Section 4.10 to the contrary notwithstanding, in no event shall the Company be required to elect as a director any Investor Nominee that it reasonably rejects as a director due to that Investor Nominee’s prior involvement in any Proceeding.
Director Position. Company will use its best efforts to cause Employee to be elected to the Board as a Class I director of Company effective as of the Commencement Date.
Director Position. The Acquirer shall cause ▇▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Molina, or his designee, to immediately be granted a seat on the Board of Directors of the Acquirer.
Director Position. Jody R. Regan, as the sole director of the Company, shall appo▇▇▇ ▇▇▇▇▇▇▇ ▇. Schmidt to fill the current vacancy on the board of dir▇▇▇▇▇▇.