Common use of Contract Rights Clause in Contracts

Contract Rights. The election or appointment of a person as an officer or agent of the corporation shall not, of itself, create contract rights. The corporation may enter into an employment contract with an officer or agent for a period of time if, in the judgment of the Board of Directors, the contract would be in the best interests of the corporation. The fact that the contract may be for a term longer than the terms of the directors who authorized or approved the contract shall not make the contract void or voidable.

Contract Rights. The election or appointment of a person as an officer a manager or agent of the corporation limited liability company shall not, of itself, create contract rights. The corporation limited liability company may enter into an employment contract with an officer a manager or agent for a period of time if, in the judgment of the Board of DirectorsGovernors, the contract would be in the best interests of the corporationlimited liability company. The fact that the contract may be for a term longer than the terms of the directors governors who authorized or approved the contract shall not make the contract void or voidable.

Contract Rights. The election or appointment of a person as an officer or agent of the corporation Company shall not, of itself, create contract rights. The corporation Company may enter into an employment contract with an officer or agent for a period of time if, in the judgment of the Board of Directors, the contract would be in the best interests of the corporationCompany. The fact that the contract may be for a term longer than the terms of the directors who authorized or approved the contract shall not make the contract void or voidable.