Maximum Officers Sample Clauses
The Maximum Officers clause sets a limit on the number of officers that an organization or company may appoint at any given time. In practice, this means the governing documents or agreements will specify a maximum number, such as five officers, and the organization cannot exceed this cap regardless of its size or needs. This clause helps maintain manageable leadership structures, prevents excessive concentration of authority, and ensures clarity in organizational governance.
Maximum Officers. The number of officers taken into account under Section 10.06(F) clause (i) will not exceed the greater of 3 or 10% of the total number (after application of the Code §414(q) exclusions) of Employees, and in no event will exceed 50 officers.
