BOARD OF DIRECTORS, TERMS OF OFFICE Sample Clauses

BOARD OF DIRECTORS, TERMS OF OFFICE. The powers of the Authority shall be exercised by a board of directors composed of five voting members and five alternate members, with one voting member and one alternate appointed by the governing bodies of each of the member localities as set forth in this Article. Members of the board of directors or their alternate members may be, but are not required to be, members of the governing body or professional staff of a member locality. In the event a board of directors member or alternate member is removed from office as a director, has his or her term of office with the appointing locality end, or has his or her employment with the appointing locality end during his or her term on the board of directors, that board of directors member shall be disqualified and his or her seat on the board of directors shall become automatically vacant. The governing body of the member locality that appointed that board member may appoint a replacement to serve the remainder of the term. The terms of office of the board of directors members shall be four years. The initial terms shall be staggered such that two members are initially appointed for two-year terms, and three members are initially appointed for four years. Members may succeed themselves. Appointments to fill vacancies, however arising, shall be for the remainder of the unexpired term. If at the end of any term of office a successor director has not been appointed, then the director whose term of office has expired shall continue to hold office until his or her successor is appointed and qualifies. The board of directors shall annually elect from among its members a chairman and a vice-chairman, and shall annually elect a secretary and treasurer who need not be members. The names and addresses, and terms of office of the members of the initial board of directors of the Authority are as follows: CITY OF CHESAPEAKE (Initial Term Years): Voting Member: Alternate Member: CITY OF NORFOLK (Initial Term Years): Voting Member: Alternate Member: CITY OF PORTSMOUTH (Initial Term Years): Voting Member: Alternate Member: CITY OF SUFFOLK (Initial Term Years): Voting Member: Alternate Member: CITY OF VIRGINIA BEACH (Initial Term Years): Voting Member: Alternate Member: The terms of office of the initial members of the board of directors of the Authority shall begin on the date of the issuance of a certificate of incorporation or charter for the Authority by the State Corporation Commission. Each voting member of the board of...
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Related to BOARD OF DIRECTORS, TERMS OF OFFICE

  • Board of Directors The Board of Directors of the Company is comprised of the persons set forth under the heading of the Pricing Prospectus and the Prospectus captioned “Management.” The qualifications of the persons serving as board members and the overall composition of the board comply with the Exchange Act, the Exchange Act Regulations, the Xxxxxxxx-Xxxxx Act of 2002 and the rules promulgated thereunder (the “Xxxxxxxx-Xxxxx Act”) applicable to the Company and the listing rules of the Exchange. At least one member of the Audit Committee of the Board of Directors of the Company qualifies as an “audit committee financial expert,” as such term is defined under Regulation S-K and the listing rules of the Exchange. In addition, at least a majority of the persons serving on the Board of Directors qualify as “independent,” as defined under the listing rules of the Exchange.

  • Election of Directors Elections of directors need not be by written ballot unless the bylaws of the Corporation shall so provide.

  • Remuneration of Directors The directors are entitled to the remuneration for acting as directors, if any, as the directors may from time to time determine. If the directors so decide, the remuneration of the directors, if any, will be determined by the shareholders. That remuneration may be in addition to any salary or other remuneration paid to any officer or employee of the Company as such, who is also a director.

  • Leave, Board of Directors A nurse who is elected to the Board of Directors of the Ontario Nurses' Association, other than to the office of President, shall be granted upon request such leave(s) of absence as she or he may require to fulfill the duties of the position. Reasonable notice - sufficient to adequately allow the Hospital to minimize disruption of its services shall be given to the Hospital for such leave of absence. Notwithstanding Article 10.04, there shall be no loss of seniority or service for a nurse during such leave of absence. Leave of absence under this provision shall be in addition to the Union leave provided in Article 11.02

  • Board “Board” means the Board of Directors of the Company.

  • Senior Management and Board of Directors 1. A Member State shall not require that a juridical person of that Member State appoint to senior management positions, natural persons of any particular nationality.

  • Board of Directors Compliance Obligations The Board of Directors (Board) shall be responsible for the review and oversight of matters related to compliance with Federal health care program requirements and the obligations of this CIA. The Board shall, at a minimum, be responsible for the following:

  • Appointment of Directors Immediately upon the Effective Time, Parent shall, in accordance with Section 2.3(d), accept the resignations and cause the appointments of those officers and directors of Parent identified in Exhibit C hereto, subject to any notice and waiting period requirements of federal law. At the first annual meeting of Parent’s stockholders and thereafter, the election of members of Parent’s Board of Directors shall be accomplished in accordance with the by-laws of Parent.

  • Determinations and Actions by the Board of Directors All actions, calculations and determinations (including all omissions with respect to the foregoing) which are done or made by the Board of Directors in good faith pursuant to this Agreement, shall not subject the Board of Directors to any liability to the holders of the Rights.

  • Executive Committee (A) The Executive Committee shall be composed of not more than nine members who shall be selected by the Board of Directors from its own members and who shall hold office during the pleasure of the Board.

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