Selection of Directors Sample Clauses
The Selection of Directors clause defines the process by which individuals are chosen to serve on a company's board of directors. Typically, this clause outlines the eligibility criteria for candidates, the nomination procedures, and the voting mechanisms used by shareholders or other stakeholders to elect directors. For example, it may specify whether directors are elected annually or for staggered terms, and whether certain shareholders have the right to appoint specific board members. The core function of this clause is to ensure a transparent and orderly method for board composition, thereby promoting effective corporate governance and preventing disputes over board appointments.
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Selection of Directors. (a) In any election of directors of the Company, each Stockholder shall vote such number of shares of Stock as may be necessary to elect as a director one individual nominated by the HITN (the "HITN Director"), but only if the HITN owns, in the aggregate, Stock representing at least 5% of the Voting Shares of the Company, it being understood that the initial HITN Director shall be ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇.
(b) In any election of directors of the Company, each Stockholder shall vote such number of shares of Stock as may be necessary to elect as a director one individual nominated by the Clearwire Stockholders (the "Clearwire Director"), but only if the Clearwire Stockholders own, in the aggregate, Stock representing at least 10% of the Voting Shares of the Company, it being understood that the initial Clearwire Director shall be a person to be determined by Clearwire in the future.
(c) Any director of the Company may be removed from the Board of the Directors in the manner allowed by law and the Company's Bylaws, but with respect to a director designated pursuant to this Section 8.02, only upon the vote or written consent of the Stockholders entitled to designate such director. Any vacancies on the Board of Directors shall be filled in accordance with this Section 8.02.
Selection of Directors. Within 30 days after the execution of this Agreement by the Parties, each Party shall designate and appoint the representatives to serve as Directors on the Board. Each Party also shall appoint an alternate Director. For each Party, each representative shall be an existing board member to the legal entity party to this agreement. The alternate member shall also be an existing board member of the party. Alternates shall assume all rights of a Director representing the appointing entity and shall have the authority to act in the absence of a Director or in the event that a Director has a conflict of interest that precludes participation by the Director in any decision-making process of the Agency. Each Party shall give written notice to the Agency Secretary of the names of its Directors and alternate Director. The names of all directors and alternates shall be on file with the Board. Each of the Directors and alternate Directors shall hold office from the first meeting of the Board after the appointment of the Director or alternate Director until a successor is selected. Directors, alternate Directors and Participating Agency members shall serve at the pleasure of the governing body of their appointing Parties or Agency and may be removed at any time, with or without cause, at the sole discretion of such governing body.
Selection of Directors. While this Agreement is in effect, the selection and nomination of Directors who are not interested persons of the Company shall be committed to the discretion of the Directors who are not interested persons of the Company.
Selection of Directors. Subject to the requirements set forth in Exhibit A, the Nominating and Governance Committee, with input from the Executive Chairman, other Board members or shareholders, is responsible for identifying and screening candidates for Board membership. The Board is responsible for nominating members to the Board and for filling vacancies on the Board that may occur.
Selection of Directors. At the request of GTC, at the time of Closing, the directors of the Company selected by NWP shall resign and NWP shall select designees of GTC to be promptly elected to the board of NWP pursuant to the Pcomm Stock Agreement.
Selection of Directors. WSC and GCC will follow the procedures set out in clause 9.1 of this Agreement as regard the selection of any person for appointment as a director of the Corporation (Recommended Director).
Selection of Directors. Upon completion of the Merger, XDGI and its Company subsidiary shall have a seven person board of directors, of which the Principal shall be entitled to designate not less than four persons acceptable to her. The remaining three directors shall be Kent Rodriguez and two other independent directors within the meaning ▇▇ ▇▇▇ ▇▇▇▇▇▇es Oxley Act of 2002, who shall be acceptable to XDOGS and its financial advisors.
Selection of Directors. Within 30 days after the execution of this Agreement by both of the Parties, each Party shall designate and appoint two representatives to serve as Directors on the Board. Each Party also shall appoint an alternate Director. For each Party, each representative shall be a city council member. The alternate member shall also be a city council member. Alternates shall assume all rights of a Director representing the appointing entity and shall have the authority to act in the absence of a Director or in the event that a Director has a conflict of interest that precludes participation by the Director in any decision-making process of the Agency. Each Party shall give written notice to the Agency Secretary of the names of its Directors and alternate Director. The names of all directors and alternates shall be on file with the Board. Each of the Directors and alternate Directors shall hold office from the first meeting of the Board after the appointment of the Director or alternate Director until a successor is selected. Directors, alternate Directors and Participating Agency members shall serve at the pleasure of the governing body of their appointing Parties or agency and may be removed at any time, with or without cause, at the sole discretion of such governing body.
Selection of Directors. For all purposes of this paragraph 5M, the Board Representatives will consist of: (a) one representative selected by the holders of a majority of Purchaser Securities then in existence and (b) one representative selected by the Great Hill Entities, so long as the Great Hill Entities and their Affiliates continue to hold at least 50% of the Purchaser Securities originally issued to the Great Hill Entities under the Purchase Agreement; provided that if the Great Hill Entities cease to be entitled to select a representative pursuant to this clause (i)(b), such representative shall be selected by the holders of a majority of the Purchaser Securities then in existence.
Selection of Directors. All seven of the initial members of the Company Board shall have been determined in accordance with the provisions of the Stockholders’ Agreement.”
3. Exhibit B to the Merger Agreement is hereby deleted and replaced with the Exhibit B attached hereto.