Board Resignation. The directors of the Acquired Company shall have tendered their resignation from the Board of Directors of the Acquired Company; provided, however, that one of the Founding Stockholders to be selected by the Founding Stockholders shall be appointed at Closing to serve on the Acquired Company's Board of Directors for a period of one (1) year after Closing, and the remaining two Founding Stockholders shall be entitled to receive notices of, attend and observe meetings of the Acquired Company's Board occurring after Closing for a period of one (1) year after Closing.
Appears in 3 contracts
Sources: Stock Purchase Agreement (Radian Group Inc), Stock Purchase Agreement (Radian Group Inc), Stock Purchase Agreement (Radian Group Inc)