Candor Sample Clauses
The Candor clause requires parties to act with honesty and transparency in their communications and disclosures related to the agreement. In practice, this means each party must promptly share relevant information, correct any misunderstandings, and avoid withholding material facts that could affect the other party’s decisions or obligations. By mandating open and truthful exchanges, the clause helps prevent disputes arising from misrepresentation or omission, thereby fostering trust and reducing the risk of misunderstandings.
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Candor. The Director shall ensure that, through the appropriate legal channels, he provides to the Company’s shareholders all material relevant information known to him when a voting or investment decision has been submitted to the shareholders.
Candor. An open communication process must include the ability to be honest and forthright with each other. Both parties accept the responsibility that they will feel free to express their opinion on subjects without hesitation or concern. They also agree that they will listen carefully to the other party’s opinion and consider them within the context of what is best for the organization. As mentioned previously the relationship between the CEO and the Board is one of an employee and employer. At times it may not be easy to be candid with one’s employer. The Board agrees to be aware of this dilemma and to provide opportunities where the CEO may express opinions on any subject that may be sensitive and confidential. The Board Chairman agrees to be a mentor and confidant and encourage the CEO to express his opinion without fear of reprisal or breach of confidence.