Examples of Series A-1 Directors in a sentence
The holders of record of the shares of Series A-1 Preferred Stock, exclusively and as a separate class, shall be entitled to elect three (3) directors of the Corporation (the “Series A-1 Directors”), and the holders of record of the shares of Series B Preferred Stock, exclusively and as a separate class, shall be entitled to elect one (1) director of the Corporation (the “Series B Director”, and, together with the Series A-1 Directors, the “Preferred Directors”).
The Corporation shall reimburse all Series A and Series A-1 Directors and Observers, and the L-3 Director, for reasonable expenses incurred in attending meetings of directors.
Upon the earlier of such date, the Series A-1 Directors shall serve out their remaining term and thereafter be treated as Common Directors.
From and after the Series B Original Issue Date, the holders of record of the shares of Series B Preferred Stock, exclusively and as a separate class, shall be entitled to elect one (1) director of the Corporation (the “ Series B Director” and together with the Series A-1 Directors, the “Senior Directors”).
The Series A-1 Preferred Directors and the Mutual Director shall be deemed the Series A-1 Directors (as defined in the Certificate of Incorporation) for purposes of the Certificate of Incorporation and the Series B Preferred Director shall be deemed the Series B Director (as defined in the Certificate of Incorporation) for purposes of the Certificate of Incorporation.
The holders of record of the shares of Series A-1 Preferred Stock, exclusively and as a separate class, shall be entitled to elect four (4) directors of the Corporation (the “Series A-1 Directors”), and the holders of record of the shares of Series B Preferred Stock, voting together as a single class on an as-converted basis, shall be entitled to elect one (1) director of the Corporation (the “Series B Director” and, together with the Series A-1 Directors, the “Preferred Directors”).
For the avoidance of doubt, the right of the Series A-1 Preferred Stock to vote for the election of the Series A-1 Directors shall be in addition to the right of the Series A-1 Preferred Stock to vote together with the holders of Common Stock for the election of the other members of the Board of Directors, subject to the Investment Agreement, including Section 4.5(c) thereof.
The right of the Series A-1 Majority to appoint the Series A-1 Directors shall terminate upon the earlier of (a) such time as the original purchasers of Series A-1 Preferred Shares hold less than 50% of the Series A-1 Preferred Shares originally purchased by them and (b) immediately prior to the consummation of a Qualified IPO.
In addition to voting as a single class with the holders of the Common Stock, Series A-1 Preferred Stock and Series B-1 Preferred Stock for the election of directors, the holders of the Series C-1 Preferred Stock voting separately shall at all times be entitled to elect one (1) member of the Board of Directors (the “Series C-1 Director,” and together with the Series A-1 Directors and the Series B-1 Director, the “Preferred Directors”).
Grant to any of its employees options or other rights to purchase Reserved Employee Shares unless authorized by the Company’s Board of Directors or its Compensation Committee (which Compensation Committee shall at all times be comprised of at least one of the Series A-1 Directors).