Common use of Change in Board Control Clause in Contracts

Change in Board Control. During the term of this Agreement, individuals who constituted the Board as of the date of this Agreement (or their approved replacements, as defined in the next sentence) cease for any reason to constitute a majority of the Board. A new director shall be considered an “approved replacement” director if his or her election (or nomination for election) was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or were themselves approved replacement directors.

Change in Board Control. During the term of this Agreement, individuals who constituted the Board as of the date of this Agreement (or their approved replacements, as defined in the next sentence) cease for any reason to constitute a majority of the Board. A new director shall be considered an “"approved replacement” " director if his or her election (or nomination for election) was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or were themselves approved replacement directors.

Change in Board Control. During a consecutive 2-year period commencing after the term date of this Agreement, individuals who constituted the Board as at the beginning of the date of this Agreement (or their approved replacements, as defined in the next sentence) period cease for any reason to constitute a majority of the Board. A new director shall be considered an “"approved replacement” " director if his or her election (or nomination for election) was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or were themselves approved replacement directors.

Change in Board Control. During a consecutive two-year period commencing after the term date of this Agreement, individuals who constituted the Board as at the beginning of the date of this Agreement period (or their approved replacements, as defined in the next sentence) cease for any reason to constitute a majority of the Board. A new director shall be considered an “"approved replacement” " director if his or her election (or nomination for election) election was approved by a vote of at least two-two- thirds of the directors then still in office who either were directors at the beginning of the period or were themselves approved replacement directors.