Director Service. The Executive shall continue to serve as a member of Board in accordance with and subject to the Company’s Articles of Incorporation, By-laws and prevailing law.
Director Service. Employee and the Company agree that Employee will continue to serve as a director on the Board of Directors of the Company (the “Board”) until such time that Employee resigns from the Board or Employee is replaced and his successor is duly elected.
Director Service. Nothing in this Agreement is intended to or shall modify the nature of the Director's service as a member of the board of directors of the Corporation. This Agreement should not be construed as giving the Director any right to be retained as a director of the Corporation.
Director Service. Xxxxxx and the Company agree that Xxxxxx will continue to serve as a member of the Board of Directors of the Company (the "Board"), until such time that Xxxxxx resigns from the Board or Xxxxxx is replaced and his successor is duly elected. Xxxxxx agrees to attend all Board Meeting and acknowledges and agrees that he will not receive any fees for serving as a director during the Term.
Director Service. During your tenure as CEO, the Board will nominate you to serve as a member of the Board, and submit your nomination for stockholder approval at each annual stockholders’ meeting during that period. You will not receive any director compensation for your Board service with respect to any period during which you are a Company employee.
Director Service. Subject to continued re-election by the Bank’s shareholder and possible removal pursuant to the Bank’s bylaws, Executive shall serve on the Board of Directors of the Bank and shall be entitled to receive directors’ fees for such service on the same basis as other directors. Any fees, stock option grants or other compensation received by Executive on the same basis as other directors will be additional compensation and supplement the compensation and benefits otherwise provided for in this Employment Agreement. In the event that the Executive’s employment hereunder is terminated for any reason whatsoever, such termination shall constitute a resignation by the Executive as a member of the Board of Directors of the Bank.
Director Service. During your tenure as Executive Chairman, the Board will nominate you to serve as a member of the Board, and submit your nomination for stockholder approval at each annual stockholders’ meeting during that period. You will not receive any director compensation for your Board service with respect to any period during which you are a Company employee (which includes the period during which you are employed as Executive Chairman). In addition, you agree to serve as a member of the Board for at least two years following your termination of employment, if the Board nominates you as a director during that period and if the Company’s stockholders so approve you as a director. You will receive the Company’s standard director compensation package for your Board service with respect to any period during which you are no longer a Company employee.
Director Service. You will continue to serve as a member of the Company’s Board of Directors while you serve as an executive offer of the Company, and your term as a member of the Board will not be shortened or lengthened merely because you serve as the Interim CEO. However, while you are serving as an executive officer of the Company, you will not be entitled to any compensation to which a non-executive director is entitled. You agree to resign from the Audit Committee. A termination of your employment under the terms hereof shall not terminate your directorship. Nothing in this offer letter shall in any way impact any equity awards that you have received in your capacity as director of the Company. SPECIAL DIRECTOR FEE: Beginning on July 5, 2023 and through August 31, 2023, you will, in your capacity as a director, make yourself available to meet with members of Xxxxx’s management and begin preparing for a leadership transition. Company will pay you a flat fee of $100,000 (to be paid by August 31, 2023) for your time and reimburse your reasonable travel expenses.
