Proxy Shares Sample Clauses
The Proxy Shares clause defines the rules and procedures for the use of proxy votes in relation to shares of a company. It typically outlines how shareholders can appoint another person to vote on their behalf at meetings, the process for submitting proxy forms, and any limitations or requirements for proxies to be valid. For example, it may specify deadlines for proxy submission or the format in which proxies must be presented. The core function of this clause is to ensure that shareholders who cannot attend meetings in person still have their voting rights represented, thereby facilitating broader participation and decision-making within the company.
Proxy Shares. Parent acknowledges that Holder is the beneficial owner (within the meaning of Rule 13d-3 of the Exchange Act) of certain shares on account of an irrevocable proxy granted to Holder by ▇▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ on July 29, 2010, which irrevocable proxy remains in effect (the “Proxy Shares”) (as more fully described in the Company’s proxy statement filed with the SEC in connection with its 2012 Annual Meeting of Stockholders). Notwithstanding anything to the contrary herein, Parent agrees that the restrictions on the transfer of shares set forth in this Section 1 shall not be applicable to the Proxy Shares (including any New Shares that are Proxy Shares).
Proxy Shares. The term "Proxy Shares" shall mean with respect to each Grantee (a) the ordinary shares, par value $0.001 per share, of the Company held of record by each Grantor as set forth on Exhibit A (including any dividends in kind thereon) or (b) any other class of stock resulting from any reclassification, exchange, substitution, combination, stock split or reverse stock split, including in connection with any merger or otherwise, of such ordinary shares.