Continued Board Membership. Nothing herein shall confer upon the Optionee any right to continued membership on the Board of Directors of the Company or a Subsidiary or shall prevent the Company or Subsidiary which retains the Optionee from terminating such relationship at any time, with or without cause.
Continued Board Membership. Executive shall continue to serve as a member of the Board through May 31, 2012. Executive hereby resigns from his position as a member of the Board effective as of May 31, 2012. Executive shall execute any additional documentation necessary to effectuate such resignation.
Continued Board Membership. During Executive’s employment hereunder, Executive will continue to serve as a member of the Board subject to the Board nomination and stockholder approval process.
Continued Board Membership. During the term of this Agreement, you will continue to serve as the Chair of the Board, with Xxxxxxx X. Xxxxxxx serving as Independent Lead Director as set forth in the Company’s Corporate Governance Guidelines. 0000 X. Xxxxxxx Xxxxx, Xxxxx 000 • Coeur d’Alene, Idaho 83815-9408 • 208.769.4100 • xxx.xxxxx.xxx
Continued Board Membership. Unless Executive elects to resign, Executive shall continue to serve as a member of the Board following the Termination Date. Following the expiration of the Executive’s current term on the Board, Executive will be considered for continued membership on the Board upon the mutual agreement of the Board and Executive. Following the Termination Date, Executive shall be considered a non-employee member of the Board. For his service as a non-employee member of the Board, Executive shall be eligible to receive director fees and Stock Awards in accordance with standard Company policy regarding such fees and Stock Awards for non-employee members of the Board. For purposes of this Agreement, “Stock Awards” means all stock options, stock appreciation rights, restricted stock and such other awards granted pursuant to the Company’s stock option and equity incentive award plans or agreements and any shares of stock issued upon exercise thereof.
Continued Board Membership. The Interim CEO will continue to serve as Chairman and member of the Board of Directors of the Company during the engagement under this Agreement, subject to any required Board nomination and stockholder approval process, and in such capacity shall continue to receive such compensation for service as a non-employee member of the Board or committees thereof as shall be determined by the Board of Directors from time to time.
Continued Board Membership. Executive shall continue to serve as a member of the Board as a non-employee director through the 2016 annual meeting of Company stockholders (the “2016 Annual Meeting”); provided, however, the Parties agree that (1) Executive shall forego the benefit of and shall not receive any equity award grants for Executive’s service as a member of the Board through the 2016 Annual Meeting, and (2) Executive’s retainer and committee fees for such service as a non-employee director shall be prorated (i.e., Board retainer and committee fees for service provided through December 31, 2015 shall be multiplied by a fraction of seven-twelfths (7/12ths)). For service as a member of the Board following the 2016 Annual Meeting, Executive shall, subject to the Company’s by-laws, certificate of incorporation and Corporate Governance Guidelines, as such may be amended from time to time, hold office as a director until the expiration of the term for which he is elected and until his successor is elected and qualified or until his earlier resignation or removal. Executive agrees to resign from the Board upon the Board’s determination that Executive shall not be placed on the Board’s proposed slate of director nominees for Company stockholder approval, such resignation to take effect immediately prior to such stockholder vote. Executive, as a non-employee director, shall be eligible to receive equity award grants provided to Board members in accordance with Company standard practice for service following the 2016 Annual Meeting.
Continued Board Membership. Executive shall continue to serve as a member of the Board following the Effective Date until such time as his successor is duly elector or his earlier resignation or removal from the Board.
Continued Board Membership. During the Term, the Interim CEO shall continue to serve as a member of the Board subject to any required Board nomination and stockholder approval process; provided (a) the Interim CEO’s retainer for service on the Board for fiscal 2017 will be paid, and his equity grant for such service during such period will be awarded, on a prorated basis by multiplying such retainer by a fraction, the numerator of which is the number of days in fiscal 2017 on which he serves as a director and is not employed under this Agreement and the denominator of which is 365, and (b) the Interim CEO shall not be entitled to receive fees for attending any Board or Committee meetings during his period of employment under this Agreement.
Continued Board Membership. Executive shall continue to serve as a member of the Board following the Effective Date. Following the expiration of the Executive’s current term on the Board, Executive will be considered for continued membership on the Board upon the mutual agreement of the Board and Executive. Following the expiration of the First Transition Period, Executive shall be considered a non-employee member of the Board regardless of whether or not he continues to be an employee of the Company for the remainder of the Transition Period. For his service as a non-employee member of the Board, Executive shall be eligible to receive director fees and Stock Awards in accordance with standard Company policy regarding such fees and Stock Awards for non-employee members of the Board.
