Continued Directorship Clause Samples
The Continued Directorship clause establishes the conditions under which a director may remain on a company's board despite changes in ownership or control. Typically, this clause specifies that certain directors, often those appointed by specific shareholders or groups, will retain their board seats even if shares are transferred or if there is a change in the company's controlling interest. By doing so, the clause ensures continuity in board representation and decision-making, protecting the interests of key stakeholders and providing stability during periods of transition.
Continued Directorship. Nothing herein shall confer upon the Participant the right to continue to serve as a director of the Company or to be entitled to any remuneration or benefits not set forth in the Agreement.
Continued Directorship. The Option granted hereunder shall confer no right on Optionee to continue as a director of the Company, or limit in any respect the right of the Company (in the absence of a specific agreement to the contrary) to terminate Optionee’s directorship at any time.