Existing Directors Sample Clauses
The 'Existing Directors' clause defines the status, rights, and obligations of individuals who are already serving as directors at the time an agreement is executed. Typically, this clause clarifies whether these directors will continue in their roles, outlines any conditions for their ongoing appointment, or specifies procedures for their replacement or removal. By addressing the position of current directors, the clause ensures continuity in company management and prevents disputes over board composition following significant transactions or organizational changes.
Existing Directors. Two of the directors serving on the Board as of September 13, 2020, have informed the Board that they will not stand for re-election to the Board at the 2020 Annual Meeting.
Existing Directors. The five existing Directors serving as of the Effective Date (the “Existing Directors”) shall remain as Directors immediately after the Effective Date to finish their Terms, provided that two Existing Directors’ Terms shall expire in 2020, two Existing Directors’ Terms shall expire in 2021, and the final Existing Director’s Term shall expire in 2022. The Board shall identify which Existing Director’s Term expires in which year.
Existing Directors. The Directors in office at the date of adoption of this Constitution shall continue in office and shall be deemed to have been appointed pursuant to this Constitution.
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