Directors Emeritus Sample Clauses

Directors Emeritus. GBB shall assume the obligations of BAB ------------------ under the three Director Emeritus agreements in effect on the date of this Agreement, plus a Director Emeritus agreement (similar to the currently effective Director Emeritus agreements) with Xxxxxxxx X. Xxxxxx that BAB may enter into between the date of this Agreement and the Closing Date providing for a five year term and monthly payments over such term in the amount of $1,550.

Directors Emeritus. The Board of Directors, by resolution adopted by a majority of the full Board of Directors, may, from time to time, designate and appoint one or more persons who have contributed in a significant way to the success of the Corporation and who have previously served as directors of the Corporation or whose terms are expiring and who have not been nominated for reelection to the Board of Directors as “Directors Emeritus”. Directors Emeritus may be recognized as such in any public announcements, advertisements, brochures and other descriptive material concerning the Corporation and shall be privileged to attend meetings of the Board of Directors and to participate in the consideration and discussion of matters coming before the Board of Directors, but they shall have no official status as directors, their presence at any meeting shall be disregarded for the purpose of determining the presence of a quorum, and they shall have no vote on matters determined by the Board of Directors. The Board of Directors shall have authority to fix the compensation of Directors Emeritus, including reimbursement for expenses incurred in attending meetings of the Board of Directors.

Directors Emeritus. The Board may select up to two board directors emeritus (“Directors Emeritus”). Directors Emeritus will be selected from former directors who served on the Board with distinction and excellence. The Board may fill any vacant emeritus position(s) by a simple majority vote of Directors. The Chair may delegate the initial review of applicants and/or nominations to a committee. Directors Emeritus will serve at the pleasure of the Board for two-year terms, subject to the discretion of the Board to shorten or end a term. There shall be no limit on the number of terms held. It is the Board’s intention that Directors Emeritus receive all written notices and information provided to the Board, be permitted to attend all Board meetings, be permitted to participate in committee meetings without need for an appointment, and be encouraged to attend other PCE events. Directors Emeritus will not be counted in determining if a quorum is present, will not be entitled to hold office, and will not be entitled to vote at any Board or committee meeting. Director Emeritus status does not entitle participation in closed sessions of the Board.

Directors Emeritus. The Board may from time to time elect one or more Directors Emeritus. Each Director Emeritus shall have the privilege of attending meetings of the Board, upon invitation of the Chairman, the Chief Executive Officer or the President. No Director Emeritus shall be entitled to vote on any business coming before the Board or be counted as a member of the Board for any purpose whatsoever.

Directors Emeritus. The Board may elect from time-to-time non-voting honorary Director(s)

Directors Emeritus. The Board of Directors may appoint one or more former Directors to serve as Director(s) Emeritus at the pleasure of the Board of Directors, for a term specified by the Board of Directors. Any Director Emeritus may attend meetings of the Board of Directors or any of its committees, but shall have no duties, powers or responsibilities with respect to the Fund. No person shall receive any compensation from the Fund for serving as a Director Emeritus, but any Director Emeritus shall be entitled to reimbursement of expenses related to attendance at any meetings of the Board of Directors or its committees.