Common use of Change in Board Clause in Contracts

Change in Board. During any twenty-four (24) consecutive months, individuals who at the beginning of such twenty four (24) month period constitute the Board of Directors of the Company and any new directors (except for any director designated by a person who has entered into an agreement with the Company to effect a transaction described elsewhere in this definition of Change of 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 (2/3) 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 (such individuals and any such new directors being referred to as the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; or

Appears in 3 contracts

Samples: Employment Agreement (Geospatial Corp), Employment Agreement (Geospatial Holdings, Inc.), Employment Agreement (Geospatial Holdings, Inc.)

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Change in Board. During any twenty-four (24) consecutive months, individuals who at the beginning of such twenty twenty-four (24) month period constitute the Board of Directors of the Company and any new directors (except for any director designated by a person who has entered into an agreement with the Company to effect a transaction described elsewhere in this definition of Change of 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 (2/3) 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 (such individuals and any such new directors being referred to as the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; : or

Appears in 2 contracts

Samples: Employment Agreement (Geospatial Corp), Employment Agreement (Geospatial Corp)

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Change in Board. During any twenty-four (24) consecutive months, individuals who at the beginning of such twenty twenty-four (24) month 24)-month period constitute the Board of Directors of the Company and any new directors (except for any director designated by a person who has entered into an agreement with the Company to effect a transaction described elsewhere in this definition of a Change of 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 (2/3) 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 (such individuals and any such new directors being referred to as the "Incumbent Board") cease for any reason to constitute at least a majority of the such Board; or

Appears in 1 contract

Samples: Consulting Agreement (Hollinger International Inc)

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