Examples of Existing Board in a sentence
Special meetings of the Board shall be held whenever called by the Chairman of the Board, the Chief Executive Officer or by a majority of the Existing Board, and shall be held at such place, on such date and at such time as he or they, as applicable, shall fix.
For purposes hereof, the term "Existing Board of Directors" shall mean the persons constituting the Board of Directors of the Company on the date hereof, together with each new director whose election, or nomination for election by the Company's stockholders is approved by a vote of the majority of the members of the Existing Board of Directors who are in office immediately prior to the election or nomination of such director.
Except as otherwise provided by law, the Certificate or these By-laws, a majority of the Existing Board shall constitute a quorum for the transaction of business at any meeting of the Board, and the vote of a majority of the directors present at any meeting at which a quorum is present shall be the act of the Board.
Except as otherwise provided by law, the Board may, by resolution passed by a majority of the Existing Board, designate one or more committees, each committee to consist of one or more of the directors of the Corporation.
Existing Board members are generally expected to achieve the share ownership levels within three (3) years from September 6, 2007, the Effective Date of the guideline and in the case of new Board members within three (3) years from their first appointment, As of December 31, 2012, all of the Board members, except for Ms. Abrams, have achieved the ownership thresholds.