Director Termination definition
Examples of Director Termination in a sentence
The Preferred Stock Directors elected at any such special meeting and each Preferred Stock Director elected at a subsequent annual or special meeting of stockholders, will be elected for term expiring upon the earlier of the Preferred Stock Director Termination Date and the next annual meeting of stockholders following such Preferred Stock Director’s election.
In the event and to the extent of the Retirement or Termination and/or, as applicable, the Director Retirement or Director Termination of the Participant from all such roles with the Company following the Restricted Period and prior to a Deferred Payment Date, the Participant shall be entitled to receive, and the Company shall issue forthwith, Shares in satisfaction of the Restricted Share Rights then held by the Participant.
The Preferred Share Directors elected at any such special meeting, and each Preferred Share Director elected at a subsequent annual or special meeting of shareholders, will be elected for term expiring upon the earlier of the Preferred Share Director Termination Date and the next annual meeting of shareholders following such Preferred Share Director’s election.
Prior to the Series B Director Termination Time, there shall be a standing committee of the Board of Directors whose members shall be all of the Series B Directors then in office (the “Series B Director Committee”).
In furtherance thereof, each Third Point Designee shall provide, upon election or appointment to the Board of Directors, an executed resignation effective upon a Director Termination Date.
From the Initial Closing, until the occurrence of a Director Termination Date, the Purchasers shall be entitled to designate Ned ▇▇▇▇▇▇▇▇▇▇ (▇▇ another Purchaser Director reasonably satisfactory to the Board) as either (i) the Co-Chairman of the Board, or, (ii) if Raje▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇ no longer a Co-Chairman, the Chairman of the Board.
Such person’s credentials shall be promptly reviewed by and he or she shall be promptly interviewed by the Nominating and Corporate Governance Committee and, subject to such committee’s and the Board’s approval, such person shall be promptly appointed to the Board to serve until the Director Termination Date; provided, however, that such approval of the Nominating and Corporate Governance Committee or the Board shall not be unreasonably conditioned, withheld or delayed.
Whenever the Corporation has paid noncumulative dividends in full on all series of Preferred Shares for at least two consecutive semi-annual or four consecutive quarterly dividend periods following a Nonpayment and has paid arrearages of cumulative dividends in full on any Preferred Shares entitled to cumulative dividends, then the right of the Holders to elect Preferred Share Directors will cease (the time of such cessation, the “Preferred Share Director Termination Date”).
Prior to the Series B Director Termination Time, there shall be a standing committee of the Board of Directors whose members shall be all of the Common Stock Directors then in office (the “Common Stock Director Committee”).
Upon the occurrence of the Director Termination Date, the Purchasers' right to designate the Purchaser Directors shall cease and, upon notice of termination from the Company to the Purchasers, the Purchasers shall cause the Purchaser Directors to immediately resign.