Advisory Directors. The Board of Directors may by resolution appoint advisory directors to the Board, who may also serve as directors emeriti, and shall have such authority and receive such compensation and reimbursement as the Board of Directors shall provide. Advisory directors or directors emeriti shall not have the authority to participate by vote in the transaction of business.
Appears in 3 contracts
Samples: Merger Agreement (Hanover Capital Mortgage Holdings Inc), Agreement and Plan of Merger (Walter Industries Inc /New/), Merger Agreement (Walter Industries Inc /New/)
Advisory Directors. The Board of Directors may by resolution appoint advisory directors to the BoardBoard of Directors, who may also serve as directors emeriti, and shall have such authority and receive such compensation and reimbursement as the Board of Directors shall provide. Advisory directors or directors emeriti shall not have the authority to participate by vote in the transaction of business.
Appears in 2 contracts
Samples: Merger Agreement (Talbot Bancshares Inc), Merger Agreement (Shore Bancshares Inc)
Advisory Directors. The Board of Directors may by resolution appoint advisory directors to the Board, who may also serve as directors emeriti, and shall have such authority and receive such compensation and reimbursement as the Board of Directors shall provide. Advisory directors or directors emeriti shall not have the authority to participate by vote in the transaction of business.. ARTICLE IV
Appears in 1 contract
