Common use of Newly Created Directorships and Vacancies Clause in Contracts

Newly Created Directorships and Vacancies. Newly created directorships resulting from an increase in the number of directors and vacancies occurring in the board for any reason except the removal of directors without cause may be filled by a vote of the majority of the directors then in office, although less than a quorum exists. Vacancies occurring by reason of the removal of directors without cause shall be filled by vote of the stockholders. A director elected to fill a vacancy caused by resignation, death or removal shall be elected to hold office for the unexpired term of his predecessor.

Newly Created Directorships and Vacancies. Newly created directorships resulting from an increase in the number of directors and vacancies occurring in the board for any reason except the removal of directors without cause may be filled by a vote of the a majority of the directors then in office, although less than a quorum exists. Vacancies occurring by reason of the removal of the directors without cause shall be filled by vote of the stockholders. A director elected to fill a vacancy caused by resignation, death or removal shall be elected to hold office for the unexpired term of his predecessor.

Newly Created Directorships and Vacancies. Newly created directorships resulting from an increase in the number of directors and vacancies occurring in the board for any reason except the removal of directors without cause may be filled by a vote of the a majority of the directors then in office, although less than office only if a quorum exists. Vacancies occurring by reason of the removal of directors without cause shall be filled by vote of more than 50% of the stockholdersthen outstanding stockholders entitled to vote. A director elected to fill a vacancy caused by resignation, death death, or removal shall be elected to hold office for the unexpired term of his predecessor.

Newly Created Directorships and Vacancies. Newly created directorships resulting from an increase in the number of directors and vacancies occurring in the board Board of Directors for any reason except the removal of directors without cause by shareholders may be filled by a vote of the a majority of the directors then in office, although less than a quorum exists. Vacancies occurring by reason as a result of the removal of directors without cause by shareholders shall be filled by vote of the stockholdersshareholders. A director elected to fill a vacancy caused by resignation, death or removal shall be elected to hold office for the unexpired term of his predecessor.