Directors and Supervisors. The directors and supervisors of Buyer immediately prior to the Closing shall remain unchanged as a result of the Closing until the earlier of their resignation or removal or until their respective successors are duly elected and qualified. Upon Closing, the directors and supervisors of the Company shall be discharged and replaced by such Persons as Buyer may designate, in its sole discretion, for a new term of office.
Directors and Supervisors. (i) The board of each of JV Co 4 (the “JV Co 4 Board”) and its Subsidiaries shall consist of five (5) directors, three (3) of which shall be appointed, removed or replaced (with or without cause) by Vianet (the “Vianet Directors”) and the other two (2) of which shall be appointed, removed or replaced (with or without cause) by the Investor (the “Investor Directors”). A director appointed by Vianet shall be appointed as the Chairman of the board of JV Co 4 and its Subsidiaries, who shall not have any casting vote.
(ii) Notwithstanding the foregoing, if any Shareholder’s Shareholding Percentage in JV Co 4 is diluted pursuant to the provisions of this Agreement or other Transaction Documents, such Shareholder’s corporate governance rights with respect to JV Co 4 and its Subsidiaries shall be adjusted according to the resultant dilution such that the number of directors that it can appoint to the board of JV Co 4 and its Subsidiaries will remain directly proportional to its Shareholding Percentage in JV Co 4. For the avoidance of doubt, if either Shareholder holds more than 60% of the then issued shares in JV Co 4, the board of JV Co 4 shall be enlarged to consist of six (6) directors, four (4) of which shall be appointed, removed or replaced by such Shareholder and the other two (2) of which shall be appointed, removed or replaced by the other Shareholder.
(iii) Each onshore Subsidiary of JV Co 4 shall have two (2) supervisors, one (1) of which shall be appointed, removed or replaced (with or without cause) by Vianet; and the other one (1) of which shall be appointed, removed or replaced (with or without cause) by the Investor. To the extent permitted by Applicable Law, the general manager of an onshore Subsidiary of JV Co 4 shall act as the legal representative of such onshore Subsidiary of JV Co 4.
Directors and Supervisors. STATUS AND TERMS OF EMPLOYMENT
Directors and Supervisors. The Company shall have [***] directors and [***] supervisors, all to be elected at a shareholders’ meeting. The tenure of office of directors and supervisors will be three (3) years and they will be eligible for re-election. The remuneration of the directors and supervisor, if any, shall be determined by the shareholders at a shareholders’ meeting. The Company shall, at its costs, maintain a reasonable and appropriate liability insurance policy for its directors and supervisors insuring against the claims which may arise from the directors’ and supervisors’ exercising their duties during their terms of office.
Directors and Supervisors. The Corporation shall have three Directors and two Supervisors. Article 20 ---------- The term of office for Directors and Supervisors shall be three (3) years. Both the Directors and the Supervisors shall be eligible for re-election.
Directors and Supervisors. The directors and supervisors of Buyer immediately prior to the Share Swap shall remain unchanged as a result of the Closing. Upon Closing, the directors and supervisors of the Company shall be discharged and replaced by such Persons as Buyer may designate, in its sole discretion.
Directors and Supervisors. The directors of Merger Sub immediately prior to the Closing shall be the directors of the Surviving Corporation until the earlier of their resignation or removal or until their successors are duly appointed in accordance with the memorandum and articles of association of the Surviving Corporation.
Directors and Supervisors. The office term of the existing directors and supervisors of SMI as of the Closing Date shall survive the Share Exchange unless otherwise designated by SMTC after the Closing.
Directors and Supervisors. During the year 2015 and up to the date of this report, the Directors and Supervisors were as follows:
