Removal from the Board Sample Clauses

The 'Removal from the Board' clause defines the process and conditions under which a board member can be removed from their position. Typically, this clause outlines who has the authority to initiate removal—such as shareholders or other board members—and the required procedures, such as notice periods or voting thresholds. Its core function is to provide a clear and orderly mechanism for addressing situations where a board member is no longer suitable to serve, thereby ensuring effective governance and protecting the organization's interests.
Removal from the Board. In the event of that the Executive is removed from the Board or fails to be reelected to the Board, the Executive shall be entitled to receive the following: (a) an increase in the Executive’s Base Salary in the amount of $100,000 payable in equal installments in accordance with the Company's normal payroll practices, but no less frequently than monthly, which shall commence on the Termination Date; (b) a grant of ten million (10,000,000) shares of Common Stock, to be issued no later than thirty (30) days following the date the Executive is removed from the Board or fails to be reelected to the Board.
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Removal from the Board. The IFMI Manager hereby agrees that, pursuant to Article IV of the Agreement, the IFMI Manager may be removed or replaced as a Manager (i) upon the occurrence of the events set forth in Section 4.03(a) of the Agreement or (b) at any time for Cause. The IFMI Manager hereby agrees that for purposes of the Agreement, “Cause” shall mean the IFMI Manager’s:
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Removal from the Board. If the Participant, prior to the Final Exercise Date, is removed by the Company from the Board of Directors, the right to exercise this option shall terminate immediately upon the effective date of such removal.
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Removal from the Board. If Grantee is removed from the Board and in the fiscal year of the Company preceding the year in which Grantee is removed from the Board Grantee failed to attend at least 66 percent of the meetings of the Board and any committees of the Board on which Grantee then served as a director, then all of Grantee’s rights in the option shall terminate and become null and void on the earlier of the Expiration Date or the date Grantee is removed from the Board.
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Removal from the Board. Any director or officer elected by the Board may be removed with or without cause by a two-thirds (2/3) vote of the total Board membership at any regular or special meeting, provided that prior notice has been given of such meeting as provided in Section 4 of this article. Any director who fails without cause to attend three (3) consecutive meetings may be removed from the Board by a two-thirds (2/3) vote of the Board at the third consecutive regular meeting missed.
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Related to Removal from the Board

  • Removal Resignation Section 6.01 Removal of Asset Representations Reviewer 13 Section 6.02 Appointment of Successor 13 Section 6.03 Merger or Consolidation of, or Assumption of the Obligations of, the Asset Representations Reviewer 14 Section 6.04 Asset Representations Reviewer Not to Resign 14 Section 6.05 Cooperation of Asset Representations Reviewer 15

  • Removal for Cause The Administrator will, if any of the following events occurs and is continuing, remove the Owner Trustee and terminate its rights and obligations under this Agreement by notifying the Owner Trustee: (i) the Owner Trustee no longer meets the eligibility requirements in Section 9.1; (ii) the Owner Trustee is legally unable to act as Owner Trustee; or (iii) an Insolvency Event of the Owner Trustee occurs.

  • Removal; Vacancies Except as provided in Section 3.1(e), and subject to the Organizational Documents, the Blocker Owner, CF OMS or Sponsor, as applicable, shall have the exclusive right to (i) remove their nominees from the Board, and (ii) designate directors for election to the Board to fill vacancies existing on the Effective Date or created by reason of death, removal or resignation of its nominees to the Board. PubCo, the Sponsor, the Blocker Owner and CF OMS shall take all Necessary Action to cause any such vacancies created pursuant to clauses (i) or (ii) of the foregoing sentence to be filled by replacement directors designated by the applicable Party as promptly as practicable after such designation (and in any event prior to the next meeting or action of the Board or applicable committee). Notwithstanding anything to the contrary contained in this Section 3.1(f), no Party shall have the right to designate a replacement director, and PubCo shall not be required to take any action to cause any vacancy to be filled by any such designee, to the extent that election or appointment of such designee to the Board would result in a number of directors nominated by such Party in excess of the number of directors that such Party is then entitled to nominate for membership on the Board pursuant to this Agreement.

  • Removal from any Boards and Positions Upon Executive’s termination of employment for any reason under this Agreement, Executive shall be deemed to resign (i) if a member, from the Board and board of directors of any Affiliate and any other board to which Executive has been appointed or nominated by or on behalf of the Employer, (ii) from each position with the Company or any Affiliate, including as an officer of the Company, the Bank, or any of their respective Affiliates and (iii) as a fiduciary of any employee benefit plan of the Employer.

  • Removal of Board Members Each Stockholder also agrees to vote, or cause to be voted, all Shares owned by such Stockholder, or over which such Stockholder has voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that: (a) no director elected pursuant to Sections 1.2 or 1.3 of this Agreement may be removed from office other than for cause unless (i) such removal is directed or approved by the affirmative vote of the Person(s) entitled under Section 1.2 to designate that director (including, as applicable, the Noteholders); or (ii) the Person(s) originally entitled to designate or approve such director pursuant to Section 1.2 is no longer so entitled to designate or approve such director; (b) any vacancies created by the resignation, removal or death of a director elected pursuant to Section 1.2 or 1.3 shall be filled pursuant to the provisions of this Section 1; and (c) upon the request of any party entitled to designate a director as provided in Section 1.2 to remove such director (including, as applicable, the Noteholders), such director shall be removed. All Stockholders agree to execute any written consents required to perform the obligations of this Agreement, and the Company agrees at the request of any party entitled to designate directors (including, as applicable, the Noteholders) to call a special meeting of stockholders for the purpose of electing directors.