Board Seat Sample Clauses
A Board Seat clause grants a party the right to appoint a representative to the company's board of directors. This provision typically applies to significant investors or stakeholders, allowing them to directly participate in board meetings and influence key decisions. By formalizing board representation, the clause ensures that the interests of the appointing party are considered in the company's governance, thereby providing oversight and protecting their investment.
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Board Seat. (a) Upon the earlier to occur of (x) Holdings’ proxy statement (for the election of directions) for the annual meeting of stockholders to be held in calendar year 2010 or (y) June 30, 2010 (the “Designee Date”), and for as long as the Notes are outstanding, MRC shall have the right to nominate one individual to serve as a member of Holdings’ Board of Directors (“MRC’s Designee”), and Holdings agrees (i) to increase the size of Holdings’ Board of Directors and appoint MRC’s Designee to Holdings’ Board of Directors as promptly as practicable after the Designee Date, or, at Holdings’ option, to nominate MRC’s Designee and recommend to Holdings’ stockholders that MRC’s Designee be elected to Holdings’ Board of Directors at the annual meeting of stockholders of Holdings in 2010, and (ii) to recommend to Holdings’ stockholders that MRC’s Designee be elected to Holdings’ Board of Directors at annual meetings of stockholders occurring after the Designee Date and thereafter for as long as the Notes are outstanding.
(b) In connection with any election of directors at an annual meeting of stockholders to which this Section 7.33 applies, MRC agrees to provide advance notice of MRC’s Designee to Holdings within the time periods set forth in Holdings’ Amended and Restated Bylaws. MRC agrees to provide notice of the initial MRC Designee to Holdings no later than April 30, 2010. In connection with MRC’s nomination of any MRC Designee, the MRC Designee shall deliver a completed and signed questionnaire regarding the background and qualifications of such person to serve as a director, a copy of which may be obtained upon request to the secretary of Holdings, a signed consent to be named in Holdings’ proxy statement as a nominee for election as a director, such additional information that Holdings may reasonably request to determine the eligibility or qualifications of such person to serve as a director of Holdings, or that could be material to a reasonable stockholder’s understanding of the qualifications and/or independence, or lack thereof, of such nominee as a director and all other documents reasonably requested by Holdings, including certifications as to compliance with Holdings’ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ policy and code of conduct.
Board Seat. During the term of this Agreement, BISYS shall be entitled to nominate a candidate to the Board of Directors of OSI, or any parent or holding company that may hereafter exist and OSI agrees to take steps necessary to cause the nomination of the person so nominated.
Board Seat. At or promptly following the Effective Time, Peoples shall increase by one (1) the number of directors constituting the Peoples Board and appoint Limestone’s Chairman, ▇. ▇▇▇▇▇ ▇▇▇▇▇, to the Peoples Board, subject to Peoples standard corporate governance practices and standard director evaluation process. Peoples shall, subject to its standard corporate governance practices, nominate and recommend such appointee for election at the next applicable annual meeting of the shareholders of Peoples to serve for a one-year term.
Board Seat. The Company, together with the Board, hereby elects you, and vests you with the power and authority the same as all other members, as a member of the Board. You hereby agree to serve as a member of the Board effective as of the Commencement Date. We agree that the foregoing election to the Board and your role as a member of the Board is separate from your role as Chief Executive Officer of the Company. You may only be removed from the Board by a vote that equals at least 75% of the Board. This Section 2 shall survive the expiration or earlier termination of this Agreement and does not and shall not impact in any manner your Board seat.
Board Seat. So long as IXC owns 95% of all IXC Common Shares issued to IXC hereunder, on the Closing Date, PSINet's Chairman shall recommend that (i) PSINet's Board of Directors elect Ralp▇ ▇. ▇▇▇▇▇ ▇▇ PSINet's Board of Directors effective as of the Closing Date, for a term expiring in 1998 or later and (ii) subject to the next sentence, such person be nominated to stand for election with the other nominated Board members at the 1998 Annual Meeting of PSINet (or, later annual meeting associated with the expiration of his term) for a term expiring no earlier than 2000 and for reelection thereafter at the applicable Annual Meetings of PSINet. At such time as IXC shall cease to own the requisite amount of IXC Common Shares, a resignation letter will be executed by Ralp▇ ▇. ▇▇▇▇▇ ▇▇▇ediately and he shall immediately cease to serve as a member of PSINet's Board of Directors.
Board Seat. The Company shall cause Executive to be appointed as a director (a "Director") to the Company’s Board of Directors (the "Board").
Board Seat. Unless otherwise requested by the Board to remain on the Company’s Board, upon termination of Executive’s employment by either party for any reason, Executive will resign his position on the Board and any other positions he may hold with or for the benefit of the Company and/or its affiliates, including, but not limited to, as an officer and/or director of any Company subsidiaries.
Board Seat. So long as the Employee remains an employee of the Company, the Company agrees to use its best efforts to cause the Employee to be nominated for election to the Company's Board of Directors at each annual or special meeting of the stockholders of the Company at which the general election of directors of the Company is to take place and to use its best efforts to cause the Employee to be so elected to such Board of Directors.
Board Seat. The parties acknowledge that ▇▇▇▇▇▇ is currently a member of the board of directors of Tully’s (the “Board of Directors”). The parties acknowledge and agree that, subject to reelection by the Tully’s Shareholders at each annual meeting, ▇▇▇▇▇▇ shall continue to be a member of the Board of Directors following his execution of this Agreement and throughout the Employment Period.
Board Seat. So long as Purchaser shall own at least 10% of the capital stock of the Company, the Board of Directors agrees to support and cause to be placed on the ballot at each election of Directors one name which shall be a nominee to the Board of Directors of the Company (the "WEDGE Board Nominee"). Additionally, the WEDGE Board Nominee shall be appointed to serve on the audit committee and compensation committee of the Board of Directors and such committees must be established within 60 days from the Closing Date.