{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "at-any-time", "type": "clause", "offset": [3, 14]}, {"key": "during-the-restricted-period", "type": "clause", "offset": [15, 43]}, {"key": "to-serve", "type": "definition", "offset": [76, 84]}, {"key": "director-of-the-company", "type": "definition", "offset": [126, 149]}, {"key": "the-\u2587", "type": "clause", "offset": [230, 235]}, {"key": "trust-parties", "type": "definition", "offset": [240, 253]}, {"key": "subject-to-the", "type": "definition", "offset": [341, 355]}, {"key": "consent-of-the-company", "type": "clause", "offset": [356, 378]}, {"key": "consent-not-to-be-unreasonably-withheld", "type": "clause", "offset": [385, 424]}, {"key": "a-\u2587", "type": "clause", "offset": [587, 590]}, {"key": "purposes-of-this-agreement", "type": "clause", "offset": [617, 643]}, {"key": "proposed-replacement", "type": "definition", "offset": [698, 718]}, {"key": "an-officer", "type": "clause", "offset": [798, 808]}, {"key": "financial-institution", "type": "definition", "offset": [826, 847]}, {"key": "bank-branch", "type": "definition", "offset": [929, 940]}, {"key": "does-not-meet", "type": "definition", "offset": [966, 979]}, {"key": "other-criteria", "type": "clause", "offset": [984, 998]}, {"key": "board-membership", "type": "clause", "offset": [1003, 1019]}, {"key": "by-the-board", "type": "clause", "offset": [1035, 1047]}, {"key": "nominating-and-governance-committee", "type": "definition", "offset": [1050, 1085]}, {"key": "applicable-to", "type": "definition", "offset": [1086, 1099]}, {"key": "all-directors", "type": "clause", "offset": [1100, 1113]}, {"key": "an-individual", "type": "clause", "offset": [1138, 1151]}, {"key": "pursuant-to-the", "type": "definition", "offset": [1189, 1204]}, {"key": "provide-the", "type": "clause", "offset": [1267, 1278]}, {"key": "information-regarding", "type": "clause", "offset": [1297, 1318]}, {"key": "pursuant-to-section", "type": "clause", "offset": [1398, 1417]}, {"key": "article-2", "type": "clause", "offset": [1426, 1435]}, {"key": "in-the-event-of", "type": "definition", "offset": [1461, 1476]}, {"key": "resignation-or-retirement", "type": "clause", "offset": [1488, 1513]}, {"key": "the-board-of", "type": "clause", "offset": [1519, 1531]}, {"key": "board-shall", "type": "definition", "offset": [1590, 1601]}, {"key": "replaced-with", "type": "clause", "offset": [1679, 1692]}], "samples": [{"hash": "hweJeuHE42V", "uri": "/contracts/hweJeuHE42V#replacement-directors", "label": "Agreement (Bank of Marin Bancorp)", "score": 31.2464065552, "published": true}, {"hash": "6n9qC1vx8XG", "uri": "/contracts/6n9qC1vx8XG#replacement-directors", "label": "Nomination Agreement (Bank of Marin Bancorp)", "score": 30.3566055298, "published": true}], "snippet": "If at any time during the Restricted Period any \u2587\u2587\u2587\u2587\u2587 Trust Nominee refuses to serve, or is unable or unwilling to serve as a director of the Company as a result of such \u2587\u2587\u2587\u2587\u2587 Trust Nominee\u2019s death, incapacity, or otherwise, then the \u2587\u2587\u2587\u2587\u2587 Trust Parties shall be entitled to designate another individual as a replacement \u2587\u2587\u2587\u2587\u2587 Trust Nominee subject to the consent of the Company, such consent not to be unreasonably withheld, delayed or conditioned (any such replacement \u2587\u2587\u2587\u2587\u2587 Trust Nominee, a \u201cReplacement \u2587\u2587\u2587\u2587\u2587 Trust Nominee\u201d), and such Replacement \u2587\u2587\u2587\u2587\u2587 Trust Nominee shall be deemed a \u2587\u2587\u2587\u2587\u2587 Trust Nominee for all purposes of this Agreement; provided, however, that the Company\u2019s objection to a proposed Replacement \u2587\u2587\u2587\u2587\u2587 Trust Nominee shall be deemed reasonable only if, (i) such individual is an officer or director of a financial institution operating in any MSA in which the Company then currently operates a full service bank branch, or (ii) such individual does not meet all other criteria for board membership as established by the Board\u2019s Nominating and Governance Committee applicable to all directors generally. In proposing an individual as a Replacement \u2587\u2587\u2587\u2587\u2587 Trust Nominee pursuant to the immediately preceding sentence, the \u2587\u2587\u2587\u2587\u2587 Trust Parties shall provide the Company with such information regarding such individual as would be required to nominate such individual as a director pursuant to Section 2.14 of Article 2 of the Company\u2019s Bylaws. In the event of the death, resignation or retirement from the Board of any \u2587\u2587\u2587\u2587\u2587 Trust Nominee during the Restricted Period, the Board shall, as promptly thereafter as practicable, cause such \u2587\u2587\u2587\u2587\u2587 Trust Nominee to be replaced with a Replacement \u2587\u2587\u2587\u2587\u2587 Trust Nominee.", "size": 12, "hash": "ff4084a30c98c1abb44234516dbc01ef", "id": 1}, {"snippet_links": [{"key": "right-of-either", "type": "clause", "offset": [24, 39]}, {"key": "pcp-entities", "type": "definition", "offset": [44, 56]}, {"key": "nominate-directors", "type": "clause", "offset": [70, 88]}, {"key": "section-24", "type": "clause", "offset": [125, 136]}, {"key": "restricted-stockholders", "type": "definition", "offset": [149, 172]}, {"key": "reasonable-best-efforts", "type": "clause", "offset": [189, 212]}, {"key": "a-majority", "type": "clause", "offset": [279, 289]}, {"key": "board-of-directors", "type": "clause", "offset": [307, 325]}, {"key": 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Any Replacement Director named by Cedarwalk shall be required to satisfy the guidelines and policies with respect to service on the Board applicable to all non-management directors. Subject to applicable rules of Nasdaq and the rules and regulations of the SEC, Waldencast shall take all necessary action to nominate or cause the Board to appoint, as applicable, the Replacement Director to the Board and to any applicable committee of the Board of which the Cedarwalk Director was a member of immediately prior to such director\u2019s resignation or removal; provided that such Replacement Director is qualified to serve on any such committee of the Board. The terms and conditions applicable to the Cedarwalk Director under this Agreement shall apply to any such Replacement Director as if such person were the Cedarwalk Director.", "size": 7, "hash": "2134534c0affd30b20b80bee2ad1f3fd", "id": 3}, {"snippet_links": [{"key": "a-vacancy", "type": "definition", "offset": [18, 27]}, {"key": "at-any-time", "type": "clause", "offset": [39, 50]}, {"key": "resignation-or-removal", "type": "clause", "offset": [89, 111]}, {"key": "with-or-without-cause", "type": "clause", "offset": [113, 134]}, {"key": "a-director", "type": "clause", "offset": [139, 149]}, {"key": "pursuant-to-section", "type": "clause", "offset": [160, 179]}, {"key": "in-the-event-of", "type": "definition", "offset": [232, 247]}, {"key": "apollo-group", "type": "definition", "offset": [299, 311]}, {"key": "right-to-designate", "type": "clause", "offset": [327, 345]}, {"key": "the-company-shall", "type": "clause", "offset": [382, 399]}, {"key": "board-shall", "type": "definition", "offset": [510, 521]}, {"key": "written-request", "type": "clause", "offset": [574, 589]}, {"key": "actions-necessary", "type": "clause", "offset": [638, 655]}, {"key": "replacement-director", "type": "definition", "offset": [811, 831]}], "samples": [{"hash": "l88YOLt23I3", "uri": "/contracts/l88YOLt23I3#replacement-directors", "label": "Investors Rights Agreement (Metals Usa Holdings Corp.)", "score": 22.201915741, "published": true}, {"hash": "6al2V1LKI5Z", "uri": "/contracts/6al2V1LKI5Z#replacement-directors", "label": "Investors Rights Agreement (FLAG INTERMEDIATE HOLDINGS Corp)", "score": 22.201915741, "published": true}, {"hash": "il8nxH2EekC", "uri": "/contracts/il8nxH2EekC#replacement-directors", "label": "Investors Rights Agreement (Metals USA Holdings Corp.)", "score": 21.2108154297, "published": true}], "snippet": "In the event that a vacancy is created at any time by the death, disability, retirement, resignation or removal (with or without cause) of a director nominated pursuant to Section 6(a) or designated pursuant to this Section 6(c) or in the event of the failure of any such nominee to be elected, the Apollo Group shall have the right to designate a replacement to fill such vacancy. The Company shall take all action within its power to cause such vacancy to be filled by the replacement so designated, and the Board shall promptly elect such designee to the Board. Upon the written request of the Apollo Group, the Company shall take all actions necessary to remove, with or without cause, any director previously nominated pursuant to Section 6(a) or designated pursuant to this Section 6(c), and to elect any replacement director designated by the Apollo Group as provided in the first sentence of this Section 6(c).", "size": 5, "hash": "3f3c6c8a15638e1df9bcea06d1da4d9a", "id": 5}, {"snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [0, 12]}, {"key": "warburg-pincus", "type": "definition", "offset": [22, 36]}, {"key": "executive-officer-of-the-company", "type": "definition", "offset": [71, 103]}, {"key": "independent-director", "type": "definition", "offset": [107, 127]}, {"key": "to-serve", "type": "definition", "offset": [196, 204]}, {"key": "the-board", "type": "clause", "offset": [270, 279]}, {"key": "withdrawing-director", "type": "definition", "offset": [284, 304]}, {"key": "substitute-director", "type": "definition", "offset": [354, 373]}, {"key": "warburg-directors", "type": "definition", "offset": [432, 449]}, {"key": "management-investors", "type": "clause", "offset": [455, 475]}, {"key": "an-independent", "type": "clause", "offset": [625, 639]}, {"key": "the-investors", "type": "clause", "offset": [650, 663]}, {"key": "and-the-company", "type": "clause", "offset": [664, 679]}, {"key": "agree-to", "type": "clause", "offset": [680, 688]}, {"key": "not-limited", "type": "clause", "offset": [750, 761]}, {"key": "capital-stock-of-the-company", "type": "clause", "offset": [780, 808]}, {"key": "owned-by", "type": "definition", "offset": [809, 817]}, {"key": "election-of", "type": "clause", "offset": [841, 852]}, {"key": "promptly-following", "type": "clause", "offset": [878, 896]}, {"key": "pursuant-to", "type": "clause", "offset": [919, 930]}, {"key": "written-request", "type": "clause", "offset": [964, 979]}, {"key": "with-or-without-cause", "type": "clause", "offset": [1010, 1031]}, {"key": "the-independent", "type": "clause", "offset": [1392, 1407]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [1418, 1447]}, {"key": "employed-by-the-company", "type": "definition", "offset": [1488, 1511]}, {"key": "the-company-shall", "type": "clause", "offset": [1531, 1548]}, {"key": "shares-of-capital-stock", "type": "clause", "offset": [1644, 1667]}], "samples": [{"hash": "h9TV4xBcTYN", "uri": "/contracts/h9TV4xBcTYN#replacement-directors", "label": "Stockholders Agreement (Bridgepoint Education Inc)", "score": 21.0, "published": true}, {"hash": "eQjjIYGwBqy", "uri": "/contracts/eQjjIYGwBqy#replacement-directors", "label": "Stockholders Agreement (Bridgepoint Education Inc)", "score": 21.0, "published": true}, {"hash": "eFdZL4B8xZb", "uri": "/contracts/eFdZL4B8xZb#replacement-directors", "label": "Stockholders Agreement (Bridgepoint Education Inc)", "score": 21.0, "published": true}], "snippet": "In the event that any Warburg Pincus Director, \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587, the Chief Executive Officer of the Company or Independent Director designated in the manner set forth in Section 2(a) hereof is unable to serve, or once having commenced to serve, is removed or withdraws from the Board (a \"Withdrawing Director\"), such Withdrawing Director's replacement (the \"Substitute Director\") will be designated by Warburg Pincus in the case of any Warburg Directors, the Management Investors in the case of \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587 or the Chief Executive Officer of the Company, or mutually by Warburg Pincus and the Management Investors in the case of an Independent Director. The Investors and the Company agree to take all action within their respective power, including but not limited to, the voting of capital stock of the Company Owned by them, (i) to cause the election of such Substitute Director promptly following his or her nomination pursuant to this Section 2(b), (ii) upon the written request of Warburg Pincus, to remove, with or without cause, the Warburg Pincus Director, (iii) upon the written request of the Management Investors, to remove, with or without cause, a Substitute Director designated by the Management Investors or (iv) upon the written request of Warburg Pincus and the Management Investors, to remove, with or without cause, \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587, the Chief Executive Officer of the Company or the Independent Director. Notwithstanding the foregoing, in the event \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587 is no longer employed by the Company, the Investors and the Company shall take all action within their respective power, including but not limited to, the voting of all shares of capital stock of the Company Owned by them, to remove \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587 from the Board and replace him pursuant to this Section 2(b).", "size": 6, "hash": "14eb3f6ad1e5b3f05e9f13e8c562a6e5", "id": 4}, {"snippet_links": [{"key": "at-any-time", "type": "clause", "offset": [3, 14]}, {"key": "during-the-standstill-period", "type": "clause", "offset": [15, 43]}, {"key": "to-serve", "type": "definition", "offset": [86, 94]}, {"key": "director-of-the-company", "type": "definition", "offset": [100, 123]}, {"key": "shareholder-group", "type": "clause", "offset": [129, 146]}, {"key": "for-\u2587", "type": "clause", "offset": [239, 244]}, {"key": "agreement-to", 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\u2587\u2587\u2587\u2587\u2587\u2587\u2587, as applicable (in which case all references in this Agreement to \u201c\u2587\u2587\u2587\u2587\u2587\u2587\u201d or \u201c\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u201d shall refer to such person\u2019s replacement), within 90 days of \u2587\u2587\u2587\u2587\u2587\u2587 or \u2587\u2587\u2587\u2587\u2587\u2587\u2587 validly tendering his resignation from the Board.", "size": 4, "hash": "d5a079352048a385d66e65d17ee12c0e", "id": 7}, {"snippet_links": [{"key": "the-initial-public-offering", "type": "clause", "offset": [9, 36]}, {"key": "in-the-event", "type": "clause", "offset": [38, 50]}, {"key": "the-llc", "type": "clause", "offset": [56, 63]}, {"key": "warburg-director", "type": "definition", "offset": [80, 96]}, {"key": "withdrawing-director", "type": "definition", "offset": [107, 127]}, {"key": "section-21", "type": "clause", "offset": [168, 179]}, {"key": "to-serve", "type": "definition", "offset": [197, 205]}, {"key": "the-board", 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{"key": "section-23", "type": "clause", "offset": [785, 796]}, {"key": "written-request", "type": "clause", "offset": [814, 829]}, {"key": "with-or-without-cause", "type": "clause", "offset": [972, 993]}, {"key": "the-case", "type": "definition", "offset": [1040, 1048]}], "samples": [{"hash": "kW0YlIPJQlK", "uri": "/contracts/kW0YlIPJQlK#replacement-directors", "label": "Stockholders' Agreement (Polypore International, Inc.)", "score": 21.0, "published": true}, {"hash": "c9tHBl5aOts", "uri": "/contracts/c9tHBl5aOts#replacement-directors", "label": "Stockholders' Agreement (Polypore International, Inc.)", "score": 21.0, "published": true}, {"hash": "9yeT6BuwHmL", "uri": "/contracts/9yeT6BuwHmL#replacement-directors", "label": "Stockholders Agreement (Daramic, LLC)", "score": 21.0, "published": true}], "snippet": "Prior to the Initial Public Offering, in the event that the LLC Director or any Warburg Director (each, a \u201cWithdrawing Director\u201d) designated in the manner set forth in Section 2.1 hereof is unable to serve, or once having commenced to serve, is removed or withdraws from the Board, such Withdrawing Director\u2019s replacement (the \u201cSubstitute Director\u201d) will be designated by the stockholder of the Company that has the right to designate such director in accordance with Section 2.1 above. The Institutional Investors and the Company agree to take all action within their respective power, including, but not limited to, the voting of all shares of Common Stock owned by them (i) to cause the election of such Substitute Director promptly following his or her nomination pursuant to this Section 2.3 or (ii) upon the written request of the stockholder of the Company that has the right to designate such director to the Board in accordance with Section 2.1 above, to remove, with or without cause, the LLC Director or any Warburg Director, as the case may be.", "size": 4, "hash": "1d97f6a35394ccc41f34f1a695750dfa", "id": 6}, {"snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [0, 12]}, {"key": "management-director", "type": "definition", "offset": [22, 41]}, {"key": "withdrawing-director", "type": "definition", "offset": [62, 82]}, {"key": "to-serve", "type": "definition", "offset": [153, 161]}, {"key": "substitute-director", "type": "definition", "offset": [284, 303]}, {"key": "the-managing", "type": "clause", "offset": [328, 340]}, {"key": "the-case", "type": "definition", "offset": [375, 383]}, {"key": "with-or-without-cause", "type": "clause", "offset": [430, 451]}, {"key": "the-right", "type": "clause", "offset": [527, 536]}, {"key": "right-to-nominate", "type": "clause", "offset": [707, 724]}, {"key": "in-the-aggregate", "type": "definition", "offset": [801, 817]}, {"key": "the-request", "type": "clause", "offset": [877, 888]}, {"key": "reasonable-efforts", "type": "definition", "offset": [909, 927]}, {"key": "resignation-of-the", "type": "clause", "offset": [941, 959]}, {"key": "on-the-board", "type": "definition", "offset": [989, 1001]}, {"key": "the-investor", "type": "clause", "offset": [1003, 1015]}, {"key": "and-the-company", "type": "clause", "offset": [1016, 1031]}, {"key": "agree-to", "type": "clause", "offset": [1032, 1040]}, {"key": "reasonable-action", "type": "definition", "offset": [1063, 1080]}, {"key": "not-limited", "type": "clause", "offset": [1126, 1137]}, {"key": "capital-stock-of-the-company", "type": "clause", "offset": [1155, 1183]}, {"key": "owned-by", "type": "definition", "offset": [1184, 1192]}, {"key": "election-of", "type": "clause", "offset": [1212, 1223]}, {"key": "promptly-following", "type": "clause", "offset": [1249, 1267]}, {"key": "pursuant-to", "type": "clause", "offset": [1290, 1301]}], "samples": [{"hash": "fJNRCicpq9c", "uri": "/contracts/fJNRCicpq9c#replacement-directors", "label": "Shareholder Rights Agreement (Yellow Brix Inc)", "score": 18.0, "published": true}], "snippet": "In the event that any Management Director or QIP Director (a \"Withdrawing Director\") designated in the manner set forth in Section 1(b) hereof is unable to serve, or once having commenced to serve, is removed or withdraws from the Board, such Withdrawing Director's replacement (the \"Substitute Director\") will be designated by the Managing Founders or the QIP Investors, as the case may be. A Management Director may be removed, with or without cause, by the Managing Founders, and the Managing Founders shall thereafter have the right to, nominate a replacement for such director. A QIP Director may be removed, with or without cause, by the QIP Investors, and the QIP Investors shall thereafter have the right to nominate a replacement for such director. However, at such time as the QIP Investors in the aggregate cease to be a 5% QIP Investor, the QIP Investors shall, at the request of the Company, use reasonable efforts to cause the resignation of the QIP Director(s) then serving on the Board. The Investor and the Company agree to take all commercially reasonable action within their respective power, including but not limited to the voting of Capital Stock of the Company owned by them, to cause the election of such Substitute Director promptly following his or her nomination pursuant to this Section 1(b)(iii).", "size": 3, "hash": "9a6e7bb2f2a53a914a8e0f117c2a9759", "id": 10}, {"snippet_links": [{"key": "the-agreement", "type": "clause", "offset": [16, 29]}, {"key": "in-lieu", "type": "clause", "offset": [101, 108]}], "samples": [{"hash": "h9TV4xBcTYN", "uri": "/contracts/h9TV4xBcTYN#replacement-directors", "label": "Stockholders Agreement (Bridgepoint Education Inc)", "score": 21.0, "published": true}, {"hash": "eQjjIYGwBqy", "uri": "/contracts/eQjjIYGwBqy#replacement-directors", "label": "Stockholders Agreement (Bridgepoint Education Inc)", "score": 21.0, "published": true}, {"hash": "eFdZL4B8xZb", "uri": "/contracts/eFdZL4B8xZb#replacement-directors", "label": "Stockholders Agreement (Bridgepoint Education Inc)", "score": 21.0, "published": true}], "snippet": "Section 2(b) of the Agreement is hereby amended by deleting its entirety and inserting the following in lieu thereof:", "size": 3, "hash": "8cab51ab749e73b6b7dbd7cef3718faf", "id": 8}, {"snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [0, 12]}, {"key": "series-b-preferred-director", "type": "definition", "offset": [51, 78]}, {"key": "series-a-preferred-director", "type": "definition", "offset": [82, 109]}, {"key": "election-of-directors", "type": "definition", "offset": [178, 199]}, {"key": "to-serve", "type": "definition", "offset": [218, 226]}, {"key": "the-board", "type": "clause", "offset": [292, 301]}, {"key": "withdrawing-director", "type": "definition", "offset": [306, 326]}, {"key": "substitute-director", "type": "definition", "offset": [376, 395]}, {"key": "in-accordance-with", "type": "clause", "offset": [417, 435]}, {"key": "certificate-of-incorporation-and", "type": "clause", "offset": [453, 485]}, {"key": "this-agreement", "type": "clause", "offset": [486, 500]}, {"key": "the-investors", "type": "clause", "offset": [502, 515]}, {"key": "and-the-company", "type": "clause", "offset": [516, 531]}, {"key": "agree-to", "type": "clause", "offset": [532, 540]}, {"key": "not-limited", "type": "clause", "offset": [602, 613]}, {"key": "the-voting", "type": "clause", "offset": [618, 628]}, {"key": "written-consent", "type": "definition", "offset": [646, 661]}, {"key": "with-respect-to", "type": "clause", "offset": [662, 677]}, {"key": "capital-stock-of-the-company", "type": "clause", "offset": [679, 707]}, {"key": "owned-by", "type": "definition", "offset": [708, 716]}, {"key": "the-election", "type": "clause", "offset": [735, 747]}, {"key": "promptly-following", "type": "clause", "offset": [776, 794]}, {"key": "pursuant-to", "type": "clause", "offset": [817, 828]}, {"key": "written-request", "type": "clause", "offset": [888, 903]}, {"key": "series-c-preferred-stock", "type": "definition", "offset": [911, 935]}, {"key": "series-b-preferred-stock", "type": "clause", "offset": [937, 961]}, {"key": "existing-series", "type": "definition", "offset": [969, 984]}, {"key": "with-or-without-cause", "type": "clause", "offset": [1109, 1130]}], "samples": [{"hash": "1yvqMztpRpg", "uri": "/contracts/1yvqMztpRpg#replacement-directors", "label": "Stockholders Agreement (Silk Road Medical Inc)", "score": 30.5934295654, "published": true}, {"hash": "8BkrfMl0NzW", "uri": "/contracts/8BkrfMl0NzW#replacement-directors", "label": "Stockholders Agreement (Silk Road Medical Inc)", "score": 30.1690616608, "published": true}, {"hash": "2sB6ZCmmnJT", "uri": "/contracts/2sB6ZCmmnJT#replacement-directors", "label": "Stockholders Agreement (Silk Road Medical Inc)", "score": 29.9637241364, "published": true}], "snippet": "In the event that any Series C Preferred Director, Series B Preferred Director or Series A Preferred Director, as applicable, designated in the manner set forth in Section 2(a) (Election of Directors) hereof is unable to serve, or once having commenced to serve, is removed or withdraws from the Board (a \u201cWithdrawing Director\u201d), such Withdrawing Director\u2019s replacement (the \u201cSubstitute Director\u201d) will be designated in accordance with the terms of the Certificate of Incorporation and this Agreement. The Investors and the Company agree to take all action within their respective power, including but not limited to, the voting of (or acting by written consent with respect to) capital stock of the Company Owned by them (i) to cause the election of such Substitute Director promptly following his or her nomination pursuant to this Section 2(b) (Replacement Directors) or (ii) upon the written request of the Series C Preferred Stock, Series B Preferred Stock or the Existing Series A Preferred, as applicable, in accordance with the terms of the Certificate of Incorporation and this Agreement, to remove, with or without cause, any Series C Preferred Director, any Series B Preferred Director or any Series A Preferred Director, respectively, in accordance with the terms of the Certificate of Incorporation.", "size": 3, "hash": "ddcba4e087e49735c80c14c972448338", "id": 9}], "next_curs": "Cl4SWGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjoLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih5yZXBsYWNlbWVudC1kaXJlY3RvcnMjMDAwMDAwMGEMogECZW4YACAA", "clause": {"children": [["global-value-director", "Global Value Director"], ["new-independent-director", "New Independent Director"]], "title": "Replacement Directors", "size": 120, "parents": [["board-of-directors", "Board of Directors"], ["covenants-of-the-parties", "Covenants of the Parties"], ["board-of-directors-annual-meeting-and-related-matters", "Board of Directors Annual Meeting and Related Matters"], ["board-composition-and-voting-agreements", "Board Composition and Voting Agreements"], ["covenants", "Covenants"]], "id": "replacement-directors", "related": [["independent-directors", "Independent Directors", "Independent Directors"], ["alternate-directors", "Alternate Directors", "Alternate Directors"], ["continuing-directors", "Continuing Directors", "Continuing Directors"], ["directors", "Directors", "Directors"], ["leave-board-of-directors", "Leave, Board of Directors", "Leave, Board of Directors"]], "related_snippets": [], "updated": "2026-05-10T05:39:37+00:00", "also_ask": ["What are the minimum qualifications and approval thresholds for appointing replacement directors?", "How can parties negotiate to limit or expand the right to appoint replacement directors?", "What are the key risks if the replacement process is ambiguous or silent in the clause?", "How does this clause compare to statutory default rules or market standards?", "What factors do courts consider when assessing the enforceability of replacement director provisions?"], "drafting_tip": "Specify appointment procedures and qualifications for replacement directors to ensure continuity; define removal and resignation processes to prevent disputes; clarify effective dates to avoid ambiguity.", "explanation": "The Replacement Directors clause outlines the process for appointing new directors to a company's board when a current director resigns, is removed, or is otherwise unable to continue serving. Typically, this clause specifies who has the authority to nominate or approve a replacement, such as the remaining board members or a particular shareholder group, and may set out timelines or qualifications for the new appointee. Its core function is to ensure continuity in the company's governance by providing a clear and efficient method for filling board vacancies, thereby minimizing disruption and maintaining effective oversight."}, "json": true, "cursor": ""}}