Director and Officer. The Key Executive shall continue to fully and -------------------- faithfully perform his duties and responsibilities (i) as a director, so long as he is elected and serving, and (ii) as an officer, reporting only to the Chief Executive Officer and the Board.
Director and Officer. Concurrently with the Closing: (i) Axxxxxx Xxxxxxx and any other officer, director or employee of Link shall tender their resignations, effective immediately, and (ii) Link shall appoint Hongwei Qu as the Chief Executive Officer and sole director of Link.
Director and Officer. Concurrently with the Closing: (i) CAPC CEO and any other officer, director or employee of CAPC shall tender their resignations, effective immediately, and (ii) CAPC shall appoint YUNGUHUI GROUP’s appointee as the Chief Executive Officer and sole director of CAPC.
Director and Officer. Indemnification Any obligations of the Debtors pursuant to their organizational documents to indemnify current and former officers, directors, agents, and/or employees (i) shall not be discharged or impaired by confirmation of the Plan and (ii) shall be deemed and treated as executory contracts to be assumed by the Debtors under the Plan. Director and officer insurance will continue in place for the directors and officers of all of the Debtors during the Chapter 11 Cases on existing terms. After the Effective Date, the reorganized Debtors shall not terminate or otherwise reduce the coverage under any director and officer insurance policies (including any “tail policy”) then in effect. Directors and officers shall be indemnified by the reorganized Debtors to the extent of such insurance. NewCo will enter into indemnification agreements with Xxxxxx Xxxxxx and each of the directors of NewCo in a form and manner satisfactory to the Senior Lender and attached as an exhibit to the Plan. Business Plan The Debtors’ management shall work with the Senior Lender (and its advisors) to determine and finalize the Debtors’ long term business plan, which shall be finalized prior to the Petition Date. Employment Agreements Current officers of TC-TX to be employed by NewCo if determined by Senior Lender to be integral to execution of the business plan to be developed in connection with the Plan and then pursuant to employment agreements in form and substance acceptable to the Senior Lender.
Director and Officer. Concurrently with the Closing: Wave shall appoint Xxxxx Xxxxx as the Chief Executive Officer and director of Wave.
Director and Officer. The Vendor shall have been appointed a Director and Chief Technology Officer of the Purchaser.
Director and Officer. If requested by the Company, the Executive will agree to serve as a Director and/or Officer of the Company or its subsidiaries and affiliates, without additional compensation.
Director and Officer indemnification as provided in this Agreement. To the extent the Company maintains an insurance policy or policies providing directors’ and officers’ liability insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any Company Director or Officer.
Director and Officer. Indemnitee would be permitted to be indemnified under applicable law and shall render its written opinion to the Company and Indemnitee to such effect. The Company agrees to pay the reasonable fees of the special independent counsel referred to above and to fully indemnify such counsel against any and all expenses (including attorneys’ fees), claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.
Director and Officer. The Key Executive shall fully and -------------------- faithfully perform his duties and responsibilities (i) as Chairman of the Board, and (ii) as the Chief Executive Officer of Xxxx Atlantic, reporting only to the Board.
