Founder Directors Sample Clauses
The 'Founder Directors' clause defines the status, rights, and responsibilities of the company's original directors who are also its founders. Typically, this clause outlines the specific roles these individuals hold on the board, any special voting rights or protections they may have, and the conditions under which they may be removed or replaced. For example, it may stipulate that certain board decisions require the approval of a founder director or that founder directors have the right to appoint successors. The core function of this clause is to safeguard the founders' influence in the company's governance, ensuring their continued involvement and protecting their interests as the business grows and evolves.
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Founder Directors. Subject to clause 4.10, for so long as a Founder, or its Permitted Transferees, holds more than 10 per cent of the Equity Shares and the Founder is not a Bad Leaver, that Founder shall have the right, exercisable in accordance with clause 4.7 below, to appoint and maintain in office one natural person as a director of the Company (such person being a "Founder Director") and to remove the Director so appointed and upon their removal to appoint another director in their place.