No Director Sample Clauses
The "No Director" clause establishes that the company will not have a board of directors or any individual serving in the capacity of a director. In practice, this means that all management and decision-making authority is vested in another body or individual, such as the shareholders or a designated manager, rather than a traditional board structure. This clause is often used in small companies or limited liability entities to simplify governance and reduce administrative burdens, ensuring clarity about who holds decision-making power and eliminating ambiguity regarding director responsibilities.
No Director of the Corporation shall be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty by such Director as a Director; provided, however, that this ARTICLE IX shall not eliminate or limit the liability of a Director to the extent provided by applicable law: (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 involve intentional misconduct or a knowing violation of law; (iii) under Section 174 of the General Corporation Law of Delaware; or (iv) for any transaction from which the Director derived an improper personal benefit. No amendment to or repeal of this ARTICLE IX shall apply to or have any effect on the liability or alleged liability of any Director of the Corporation for or with respect to any acts or omissions of such Director occurring prior to such amendment or repeal.
No Director. Officer is subject to any non-competition agreement or non-solicitation agreement with any employer or prior employer which could materially affect his ability to be and act in the capacity of a Director/Officer of the Company.
No Director. Employee or Worker has given or received notice terminating his or her appointment, employment or engagement. No such notice of termination is pending, outstanding or has been threatened by the Company and, as far as the Warrantors are aware, no such notice of termination from any Director, Employee or Worker is pending, outstanding or threatened.
No Director. Officer or employee of the Company shall, during his continuance in office, be eligible to act as an Auditor of the Company.
No Director of the Corporation shall 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 involve intentional misconduct or a knowing violation of the law, (iii) under Section 174 of the General Corporation Law of Delaware, or (iv) for any transaction from which the director derived an improper personal benefit." SCHEDULE 2.1 -------------------------------------------------------------------------- STOCKHOLDER NO. OF RETAINED SHARES -------------------------------------------------------------------------- Apollo Investment Fund III, L.P. 248,244 -------------------------------------------------------------------------- Apollo Overseas Partners III, L.P. 14,838 -------------------------------------------------------------------------- Apollo (U.K.) Partners III, L.P. 9,175 -------------------------------------------------------------------------- BT Investment Partners, Inc. 12,144 -------------------------------------------------------------------------- ▇▇▇▇▇▇▇ ▇▇▇▇ 16,250 -------------------------------------------------------------------------- ▇▇▇▇▇▇▇ ▇▇▇▇ 16,250 --------------------------------------------------------------------------
SCHEDULE 2.4 A. OPTION HOLDER OPTION GRANT DATE ROLLOVER OPTIONS --------------------------------------------------------------------------- ALLIANCE --------------------------------------------------------------------------- ▇▇▇▇▇▇ 12/18/1997 (98,953); 102,077 02/05/98 (3,124) --------------------------------------------------------------------------- ▇▇▇▇ 12/18/1997; 02/06/1998 85,350 --------------------------------------------------------------------------- ORD 01/19/1998 33,750 --------------------------------------------------------------------------- ▇▇▇▇▇▇▇ 01/02/1998 8,800 --------------------------------------------------------------------------- ANDRUES 01/02/1998 8,800 --------------------------------------------------------------------------- FORD 01/02/1998 8,800 --------------------------------------------------------------------------- ▇▇▇▇▇▇ 01/02/1998 3,400 --------------------------------------------------------------------------- ▇▇▇▇ 01/02/1998 2,200 --------------------------------------------------------------------------- GRISMER 01/02/1998 2,618 ------------------------...