Board of Directors Membership. 1. Membership of the OI Board will be members of the coalition work group created and appointed by the Owyhee County Commissioners to develop and implement the Owyhee Initiative, as of the time enabling legislation is passed, Membership shall include a representative of the Shoshone Paiute Tribes.
Board of Directors Membership. The Employee will continue his membership on the Board of Directors of the Company.
Board of Directors Membership. Amendments to Buyer's By-laws. Prior to Closing. Buyer will take such corporate action as is necessary to amend its by-laws or charter, in order to conform to the Shareholders' Agreement which Buyer and others become parties. Immediately following Closing, Buyer shall take such corporate action as may be necessary to cause Xxxxxxx Nice to become a member of Buyer's Board of Directors, and, if necessary, to reelect Xxxxxxx Nice to continue to serve on the Board until the negotiation of all of the shares of the common stock of Buyer acquired by Seller.
Board of Directors Membership. The Employee, as soon as Xxxxx Xxxxxxxx is paid and removed from the Board, which action is being pursued as of this writing, will become a member of the Board of Directors of the Company. In any event, regardless of the handling of the situation with Xx. Xxxxxxxx, Employee shall become a Board member within 30 days of this date.
Board of Directors Membership. Reference is made to that certain Stockholders' Agreement dated as of July 11, 1995 (the "Stockholders' Agreement") among Vestar Equity Partners, L.P. ("Vestar"), Cabot CSC Corporation, formerly known as Cabot Safety Corporation ("Cabot"), Aearo, Cabot Corporation ("Cabot Parent") and the parties identified on the signature pages hereto or to the supplementary agreements referred to in Section 5.14 thereof as Management Investors (the "Management Investors"). Aearo and, by their execution of a counterpart hereof, Vestar, Cabot and Cabot Parent, hereby agree and acknowledge as follows (all capitalized terms used in this Section 5 and not otherwise defined shall have the respective meanings set forth in the Stockholders' Agreement):
Board of Directors Membership. Immediately following Closing, Buyer shall take such corporate action as may be necessary to cause a designee of Seller to become a member of Buyer's Board of Directors (the "Board"), and, if necessary, to re-elect such designee, or another designee of Seller, to continue to serve on the Board until the later of twelve months from the date of Closing or the commencement of a public offering of Buyer's stock.
Board of Directors Membership. Board of Directors agrees:
Board of Directors Membership. The Employee, as of the date of the Agreement, will become a member of the Board of Directors of the Company and will have the option to submit for Board approval one additional Board member.
Board of Directors Membership. The parties agree that so long as ----------------------------- Employee serves as CEO of the Company, he shall also serve as a member of the Company's Board of Directors. The Company hereby agrees to take all actions that are necessary to elect Employee, and thereafter continue Employee in office, as a member of the Board of Directors of the Company. Employee agrees to resign from the Board of Directors of the Company at such time as Employee ceases to be CEO of the Company.
Board of Directors Membership. Executive will continue as a member of the Board of Directors until the next annual stockholders meeting and will be nominated for reelection to the Board at that time. He will be considered an outside director during the period of time he receives retirement compensation payment under section 3 below. He will receive the normal compensation of an outside director for his services upon his reelection, but will not receive stock options as a newly elected director as he is continuing as a director. However, he will receive the annual grant of stock options to outside directors beginning with the 1997 annual meeting.
