Additional Directors of Cape Bancorp and Cape Savings Sample Clauses

Additional Directors of Cape Bancorp and Cape Savings. Each of the directors of Cape Bancorp and Cape Savings immediately prior to the Effective Time shall continue as directors of Cape Bancorp and Cape Savings immediately after the Effective Time. Prior to the Effective Time, but effective conditioned upon Closing, Cape Bancorp and Cape Savings shall increase the size of their respective boards of directors (the “Boards”) by three directors so that upon such increase, (i) each Board shall consist of ten directors and (ii) each Board shall appoint as directors to fill the three resulting vacancies Mxxxxxx X. Xxxxxx, Axxxxxxx X. Xxxxxxxx and Txxxxx X. Xxxxxx (collectively, the “Boardwalk Bancorp Designees”). Mx. Xxxxxx shall serve as a director in the class of directors whose term expires in 2010, Mx. Xxxxxx shall serve as a director in the class of directors whose term expires in 2009 and Mx. Xxxxxxxx shall serve as a director in the class of directors whose term expires in 2008. Subject to their fiduciary duties, each Board shall take all action necessary to appoint each of Messrs. Fabietti and Dxxxxx to their respective Board for a three-year term following the expiration of their terms listed above. If any Boardwalk Bancorp Designee shall be unable or unwilling to serve as a nominee or a director for any reason either prior to his appointment as a director or during his term of office, then the remaining Boardwalk Bancorp Designees shall be entitled to designate another person acceptable to a majority of the members of the respective Boards, and any such person shall become a “Boardwalk Bancorp Designee” for all purposes under this Agreement.
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Related to Additional Directors of Cape Bancorp and Cape Savings

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