Full Control. The current management team for the Company will continue to operate, and full operational control will be retained by existing shareholders/management unless the Board of Directors dcte1111ines otherwise due to a breach of the Shareholders Agreement, ongoing poor performance, or if structural changes are recommended in line with the laws governed by this Agreement, which will be decided and approved by the new Board of Directors. Further, Composition of Board of Directors shall be in accordance with Clause 1.05: Total Five Directors - Out of which 3 from ILUS and 2 from ASSS
Appears in 1 contract
Sources: Share Purchase Agreement (Ilustrato Pictures International Inc.)
Full Control. The current management team for the Company will continue to operate, and full operational control will be retained by existing shareholders/management unless the Board of Directors dcte1111ines determines otherwise due to a breach of the Shareholders Agreement, ongoing poor performance, or if structural changes are recommended in line with the laws governed by this Agreement, which will be decided and approved by the new Board of Directors. Further, Composition of Board of Directors shall be in accordance with Clause 1.05: Total Five Directors - Out of which 3 from ILUS and 2 from ASSS.
Appears in 1 contract
Sources: Share Purchase Agreement (Ilustrato Pictures International Inc.)
Full Control. The current management team for the Company will continue to operate, and full operational control will be retained by existing shareholders/management unless the Board board of Directors dcte1111ines otherwise due to a breach directors of the Shareholders Agreement, ongoing poor performance, or if structural changes are recommended in line with Company (which shall consist of the laws governed by this Agreement, which will be decided and approved person appointed by the new Board of Directors. Further, Composition of Board of Directors shall be in accordance with Clause Purchaser under Section 1.05: Total Five Directors - Out of which 3 from ILUS and 2 from ASSS) determines otherwise.
Appears in 1 contract
Full Control. The current management team for the Company will continue to operate, and full operational control will be retained by existing shareholders/management unless the new Board of Directors dcte1111ines determines otherwise due to a breach of the Shareholders Agreement, ongoing poor performance, or if structural changes are recommended in line with the laws governed by this Agreement, Agreement which will be decided and approved by the new Board of Directors. Further, Composition Directors of Board of Directors shall be in accordance with Clause 1.05: Total Five Directors - Out of which 3 from ILUS and 2 from ASSSthe Company.
Appears in 1 contract
Sources: Share Purchase Agreement (Ilustrato Pictures International Inc.)