Common use of Term of Office of Directors Clause in Contracts

Term of Office of Directors. In the election of Directors, the Directors must each be elected for a term of: [a] one year, if the Director is completing the term of a Director who vacated their office in the first year of their two-year term; or [b] two years, in a manner to ensure that no more than a simple majority of Directors is elected for a term of two years at any Annual General Meeting.

Term of Office of Directors. ‌ In the election of Directors, the Directors must each be elected for a term of: [a] one year, if the Director is completing the term of a Director who vacated their office in the first year of their two-year term; or [b] two years, in a manner to ensure that no more than a simple majority of Directors is elected for a term of two years at any Annual General Meeting.

Term of Office of Directors. In the election of DirectorsDirectors held at each Annual General Meeting, the Directors must each be elected for a term of: [a] one year, if the Director is completing the term of a Director who vacated their office in the first year of their two-year term; or [b] two years, in a manner to ensure that no more than a simple majority of Directors is elected for a term of two years at any Annual General Meeting.