Supervisory Board. 7. The Company shall have a Supervisory Board. The Supervisory Board will monitor the general policy and strategy and advise the Management Board. 8. The Supervisory Board shall consist of at least members and will be formed on the Closing Date by [ _ ] (chairman) and [ _ ]. 9. The Meeting of Holders of Preferred Shares has the right to appoint one of the members of the Supervisory Board. The other members including the chairman shall be appointed by the General Meeting. The General Meeting shall assess the amount of remuneration. 10. The body that has the right to appoint a member of the Supervisory Board, also has the right to suspend or dismiss the respective member of the Supervisory Board. 11. Notwithstanding the statutory rights of the Supervisory Board, the Management Board shall issue the financial information that is provided to the Participants under Article 5 at the same time to the Supervisory Board.
Appears in 2 contracts
Sources: Shareholder Agreement, Shareholder Agreement
Supervisory Board. 7. The Company shall have a Supervisory Board. The Supervisory Board will monitor the general policy and strategy and advise the Management Board.
8. The Supervisory Board shall consist of at least ………….. members and will be formed on the Closing Date by [ _ ] (chairman) and [ _ ].
9. The Meeting of Holders of Preferred Shares has the right to appoint one of the members of the Supervisory Board. The other members including the chairman shall be appointed by the General Meeting. The General Meeting shall assess the amount of remuneration.
10. The body that has the right to appoint a member of the Supervisory Board, also has the right to suspend or dismiss the respective member of the Supervisory Board.
11. Notwithstanding the statutory rights of the Supervisory Board, the Management Board shall issue the financial information that is provided to the Participants under Article 5 at the same time to the Supervisory Board.
Appears in 1 contract
Sources: Shareholder Agreement