Common use of Change in Board of Directors Clause in Contracts

Change in Board of Directors. During any period of two (2) consecutive years (not including any period prior to the execution of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in this definition of Change in Control whose election by the Board or nomination for election by the Company’s stockholders 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 whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board;

Appears in 5 contracts

Samples: Indemnification Agreement (Safe & Green Development Corp), Indemnification Agreement (Twin Vee PowerCats, Co.), Indemnification Agreement (Forza X1, Inc.)

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Change in Board of Directors. During any period of two (2) consecutive years (not including any period prior to after the execution of this Agreement)Effective Date, individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in (i), (iii), or (iv) of this definition of Change in Control definition) whose election by the Board or nomination for election by the Company’s stockholders 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 whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board;

Appears in 3 contracts

Samples: Change in Control Severance Benefits Agreement (Leadis Technology Inc), Change in Control Severance Benefits Agreement (Leadis Technology Inc), Change in Control Severance Benefits Agreement (Leadis Technology Inc)

Change in Board of Directors. During any period of two (2) consecutive years (not including any period prior to the execution of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company Corporation to effect a transaction described in this definition of Change in Control Sections 2.1, 2.3 or 2.4) whose election by the Board or nomination for election by the CompanyCorporation’s stockholders shareholders 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 whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board;

Appears in 2 contracts

Samples: Letter Agreement (Mentor Graphics Corp), Severance Agreement (Mentor Graphics Corp)

Change in Board of Directors. During any period of two (2) consecutive years (not including any period prior to the execution of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in this definition of Change in Control whose election by the Board or nomination for election by the Company’s 's stockholders 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 whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board;

Appears in 2 contracts

Samples: Indemnification Agreement (Cadrenal Therapeutics, Inc.), Indemnification Agreement (Heat Biologics, Inc.)

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Change in Board of Directors. During any period of two (2) consecutive years (not including any period prior to the execution of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company Corporation to effect a transaction described in this definition of Change in Control Control) whose election by the Board or nomination for election by the CompanyCorporation’s stockholders was approved by a vote of at least two-thirds a majority of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approvedapproved (collectively, the “Continuing Directors”), cease for any reason to constitute at least a majority of the members of the Board;

Appears in 1 contract

Samples: Indemnification Agreement (Bowater Inc)

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