Common use of Compensation of Directors Clause in Contracts

Compensation of Directors. Directors shall receive such compensation for their services as shall be determined by a majority of the Board of Directors, or a designated committee thereof, provided that directors who are serving the Corporation as employees and who receive compensation for their services as such, shall not receive any salary or other compensation for their services as directors of the Corporation.

Appears in 9 contracts

Samples: Merger Agreement (Motive Capital Corp), Business Combination Agreement (Capstar Special Purpose Acquisition Corp.), Merger Agreement (BCTG Acquisition Corp.)

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Compensation of Directors. Directors shall receive such compensation for their services as shall be determined by a majority of the Board of Directors, or a designated committee thereof, provided that directors who are serving the Corporation as employees and who receive compensation for their services as such, shall not receive any salary or other compensation for their services as directors services; however, the Board may approve the reimbursement of a director’s actual and necessary expenses incurred in the conduct of the Corporation’s business.

Appears in 3 contracts

Samples: Performance Certificate, Performance Certificate, Charter School Performance Certificate

Compensation of Directors. Directors shall be entitled to receive such compensation from the Corporation for their services as shall may from time to time be determined by a majority resolution of the Board of Directors, or a designated committee thereof, provided that directors who are serving the Corporation as employees and who receive compensation for their services as such, shall not receive any salary or other compensation for their services as directors of the Corporation.

Appears in 3 contracts

Samples: By Laws (Scudder New Europe Fund Inc), By Laws (Scudder New Europe Fund Inc), By Laws (Kemper New Europe Fund Inc)

Compensation of Directors. Directors Directors, acting in their capacities as such, shall receive such compensation for their services as shall may be determined fixed by a majority resolution of the Board or one of Directorsits duly authorized committees and shall receive their actual expenses of attendance, if any, for each regular or a designated committee thereof, special meeting of the Board; provided that directors who are nothing herein contained shall be construed to preclude any director from serving the Corporation as employees in any other capacity and who receive receiving compensation for their services as such, shall not receive any salary or other compensation for their services as directors of the Corporationtherefor.

Appears in 2 contracts

Samples: Revolving Credit, Term Loan and Security Agreement (PHI Group, Inc./De), Revolving Credit, Term Loan and Security Agreement (PHI Group, Inc./De)

Compensation of Directors. Directors shall receive such compensation for their services as shall be determined by a majority of the Board of Directors, or a designated committee thereof, provided that directors who are serving the Corporation as employees and who receive compensation for their services as such, shall not receive any salary or other compensation for their services as directors of the Corporation.

Appears in 1 contract

Samples: Business Combination Agreement (Slam Corp.)

Compensation of Directors. The Directors shall not be entitled to be paid fees in their capacity as such, but shall receive such compensation for their executive services performed for each Company as shall be determined by a majority of the Board of Directors, or a designated committee thereof, provided that directors who are serving the Corporation as employees and who receive compensation for their services as such, shall not receive any salary or other compensation for their services as directors of the CorporationShareholders’ Meeting may decide.

Appears in 1 contract

Samples: Joint Venture Agreement (Gulf United Energy, Inc.)

Compensation of Directors. Directors shall receive such compensation for their services as shall be determined by a majority of the Board of Directors, or a designated committee thereof, Directors provided that directors who are serving the Corporation as employees and who receive compensation for their services as such, shall not receive any salary or other compensation for their services as directors of the Corporation.

Appears in 1 contract

Samples: Stock Purchase Agreement (Plug Power Inc)

Compensation of Directors. Directors shall receive such compensation for their services as shall be determined by a majority of the Board of Directors, or a designated committee thereof, provided that directors who are serving the Corporation as employees and who receive compensation for their services as such, shall not receive any salary or other compensation for their services as directors of the Corporation.

Appears in 1 contract

Samples: Business Combination Agreement (Good Works II Acquisition Corp.)

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Compensation of Directors. Directors shall receive such compensation for their services as shall be determined by a majority of the Board of Directors, or a designated committee thereof, provided that directors Directors who are serving the Corporation as officers or employees and who receive compensation for their services as such, such officers or employers shall not receive any salary or other compensation for their services as directors of the CorporationDirectors.

Appears in 1 contract

Samples: Restated Employment Agreement (Cendant Corp)

Compensation of Directors. Directors shall receive such compensation for their services as shall be determined by a majority of the Board of Directors, or a designated committee thereof, ; provided that directors who are serving the Corporation as employees and who receive compensation for their services as such, shall not receive any salary or other compensation for their services as directors of the Corporation.

Appears in 1 contract

Samples: Business Combination Agreement (Cartesian Growth Corp)

Compensation of Directors. Directors shall receive such compensation for their services as shall be determined by a majority of the Board of Directors, or a designated committee thereof, provided that directors who are serving the Corporation as not employees and who shall receive compensation for their services as suchdirectors, in such form and amounts as the Board of Directors from time to time determines. Directors who are employees shall not receive any stated salary or other compensation for their services as directors directors, but, pursuant to normal corporate expense reimbursement policies, shall receive reimbursement for expenses of the Corporationattendance at such meetings.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Watson Wyatt Worldwide, Inc.)

Compensation of Directors. Directors shall receive such compensation for their services as shall be determined by a majority of the Board of Directors, or a designated committee thereof, Directors provided that directors who are serving the Corporation as employees and who receive compensation for their services as such, such shall not receive any salary or other compensation for their services as directors of the Corporation.

Appears in 1 contract

Samples: Merger Agreement (Pemi Bancorp Inc)

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