Appointed Directors Sample Clauses
The 'Appointed Directors' clause defines the process and authority by which individuals are designated to serve as directors on a company's board. Typically, this clause outlines who has the right to appoint directors—such as shareholders, investors, or specific stakeholders—and may specify the number of directors each party can appoint or the qualifications required. By clearly establishing appointment rights and procedures, this clause ensures that key parties have representation in the company's governance and helps prevent disputes over board composition.
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Appointed Directors. Four (4) of the Directors of the Corporation shall be appointed to the Board by the Mayor and three (3) of the Directors of the Corporation shall be appointed to the Board by the President of City Council of the City (each, an “Appointed Director” and collectively, the “Appointed Directors”). Except where such designation is made by the appointing authority, the Board shall notify the relevant appointing authority of the terms of service of each Appointed Director, as determined pursuant to Article IV, Section 2. At the end of an Appointed Director’s term of service, the appointing authority shall either extend such Appointed Director’s term or appoint a new Director, in the appointing authority’s sole discretion; provided that such Appointed Director shall remain on the Board as an “Acting Director” (with all of the voting and other rights of a Director) until such time as the appointing authority reappoints or replaces such director. At all times, each Appointed Director shall have a duty (not inconsistent with his/her fiduciary duty) to report regularly on the activities of the Board to his/her appointing authority, including, at a minimum, a quarterly written report addressing the activities of WP with respect to bridging the digital divide.
Appointed Directors. During the term of the Surplus Note or the 100% Quota Share Agreement, as described in the Affiliation Agreement, effective on or about April 1, 2011, Nodak Mutual Insurance Company shall appoint two-thirds (⅔) of the members of the Board of Directors (the “Appointed Directors”). In the event of a vacancy in the seat of one or more of the Appointed Directors, due to removal, resignation, death, disability, or termination of his/her appointment, Nodak Mutual Insurance Company shall have the right to appoint a replacement Appointed Director.
Appointed Directors. Up to Five (5) of the Directors shall be appointed pursuant to Section 5.4 of this Agreement. Each Director appointed pursuant to Section 5.4 of this Agreement shall be entitled to one (1) vote. All Directors will be required to execute a confidentiality agreement in form and substance reasonably satisfactory to the Company with and for the benefit of the Company prior to becoming a Director. Notwithstanding any other provision in this Agreement to the contrary, the amendment or repeal of this Section 5.2 or the adoption of any provision inconsistent herewith shall require the affirmative vote of Farmers Energy and a majority of the remaining Membership Voting Interests.
Appointed Directors. In addition to the twelve (12) Directors elected within their respective Local League Organizations and subsequently appointed to the Board by the Parties, the Association’s Board shall have the authority to appoint three additional Directors, possessing specialized knowledge, skill and experience, who shall be responsible for supporting both the Representative Team and Local League programs in the following roles:
Appointed Directors
Appointed Directors. Each Person who, after the Company’s acceptance of subscriptions for the purchase of Class A Units in connection with the Company’s initial public offering of Class A Units, owns at least two million (2,000,000) Class A Units shall be entitled to appoint one natural person to serve as a Director on the Board of Directors for a period of three (3) consecutive three (3) year terms, for a total of nine (9) years. A Member who is entitled to appoint a Director under this section shall not be entitled to vote for the election of any other Directors for so long as such Member has appointed a Director.