Common use of EIGHTH Clause in Contracts

EIGHTH. A director of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (i) for any breach of the director's duty of loyalty to the Corporation or its stockholders, (ii) for acts or omissions not in good faith or which involved intentional misconduct or a knowing violation of law, (iii) under Section 174 of the Delaware General Corporation Law, or (iv) for any transaction from which the director derived an improper personal benefit. If the Delaware General Corporation Law is hereafter amended to authorize the further elimination or limitation of the liability of a director, then the liability of a director of the Corporation shall be eliminated or limited to the fullest extent permitted by the Delaware General Corporation Law, as so amended. Any repeal or modification of the foregoing provisions of this Article EIGHTH by the stockholders of the Corporation shall not adversely affect any right or protection of a director of the Corporation existing at the time of such repeal or modification.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Integrated Sensor Solutions Inc), Agreement and Plan of Merger (Puma Technology Inc), Agreement and Plan of Merger (American Xtal Technology)

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EIGHTH. A director of the this Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (i) for any breach of the director's duty of loyalty to the Corporation corporation or its stockholders, (ii) for acts or omissions not in good faith or which involved involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the Delaware General Corporation Law, or (iv) for any transaction from which the director derived an improper personal benefit. If the Delaware General Corporation Law is hereafter amended to authorize the further elimination or limitation of the liability of a director, then the liability of a director of the Corporation shall be eliminated or limited to the fullest extent permitted by the Delaware General Corporation Law, as so amended. Any repeal or modification of the foregoing provisions of this Article EIGHTH by the stockholders of the Corporation shall not adversely affect any right or protection of a director of the Corporation existing at the time of such repeal or modification.

Appears in 1 contract

Samples: Guaranty (Maxtor Corp)

EIGHTH. A director of the Corporation shall not be personally liable to ------ the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (i) for any breach of the director's duty of loyalty to the Corporation or its stockholders, (ii) for acts or omissions not in good faith or which involved intentional misconduct or a knowing violation of law, (iii) under Section 174 of the Delaware General Corporation Law, or (iv) for any transaction from which the director derived an improper personal benefit. If the Delaware General Corporation Law is hereafter amended to authorize the further elimination or limitation of the liability of a director, then the liability of a director of the Corporation shall be eliminated or limited to the fullest extent permitted by the Delaware General Corporation Law, as so amended. Any repeal or modification of the foregoing provisions of this Article EIGHTH by the stockholders of the Corporation shall not adversely affect any right or protection of a director of the Corporation existing at the time of such repeal or modification.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Power Integrations Inc)

EIGHTH. (a) A director of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (i) for any breach of the director's ’s duty of loyalty to the Corporation or its stockholders, (ii) for any acts or omissions not in good faith or which involved involve intentional misconduct or a knowing violation of law, (iiii) under Section 174 of the Delaware General Corporation Law, DGCL or (iv) for any transaction from which the director derived an improper personal benefit. If the Delaware General Corporation Law DGCL is hereafter amended to authorize corporate action further eliminating or limiting the further elimination or limitation of the personal liability of a directordirectors, then the liability of a director of the Corporation Corporation, in addition to the limitation on personal liability provided herein, shall be eliminated or limited to the fullest extent permitted by the Delaware General Corporation Law, as so amendedamended DGCL. Any repeal or modification of the foregoing provisions of this Article EIGHTH paragraph by the stockholders of the Corporation shall be prospective only, and shall not adversely affect any elimination or limitation on the personal liability of a director of the Corporation or right or protection of a director of the Corporation existing at the time of such repeal or modification.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Cano Petroleum, Inc)

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EIGHTH. A director of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (i) for any breach of the director's ’s duty of loyalty to the Corporation or its stockholders, (ii) for acts or omissions not in good faith or which involved involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the Delaware General Corporation LawDGCL, or (iv) for any transaction from which the director derived an improper personal benefit. If the Delaware General Corporation Law DGCL is hereafter amended to authorize corporate action further eliminating or limiting the further elimination or limitation of the personal liability of a directordirectors, then the liability of a director of the Corporation shall be eliminated or limited to the fullest extent permitted by the Delaware General Corporation LawDGCL, as so amended. Any amendment, modification or repeal or modification of the foregoing provisions of this Article EIGHTH by the stockholders of the Corporation paragraph shall not adversely affect any right or protection of a director of the Corporation existing at thereunder in respect of any act or omission occurring prior to the time of such repeal amendment, modification or modificationrepeal.

Appears in 1 contract

Samples: Stock Purchase Agreement (Boulevard Acquisition Corp.)

EIGHTH. A director of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (i) for any breach of the director's duty of loyalty to the Corporation or its stockholders, (ii) for acts or omissions not in good faith or which involved involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the Delaware General Corporation Law, or (iv) for any transaction from which the director derived an improper personal benefit. If the Delaware General Corporation Law is hereafter amended to authorize the further elimination or limitation of the liability of a directordirectors, then the liability of a director the directors of the Corporation Corporation, in addition to the limitation on personal liability provided herein, shall be eliminated or limited to the fullest extent permitted by the amended Delaware General Corporation Law, as so amended. Any repeal or modification of the foregoing provisions of this Article EIGHTH paragraph by the stockholders of the Corporation shall be prospective only, and shall not adversely affect any right or protection limitation on the personal liability of a director of the Corporation existing at the time of such repeal or modification.. NINTH:

Appears in 1 contract

Samples: Agreement and Plan of Merger (U S Vision Inc)

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