Common use of Directorship Term Clause in Contracts

Directorship Term. The “Directorship Term,” as used in this Agreement, shall mean the period commencing on the Effective Date and terminating on the earlier of the date of the next annual stockholders meeting and the earliest of the following to occur: (a) the death of the Director or his disability sufficient to prevent his competent performance of the duties of a director; (b) the termination of the Director from his membership on the Board by the mutual agreement of the Company and the Director; (c) the removal of the Director from the Board by the vote or written consent of the requisite voting power of the stockholders of the Company, or the failure of the Company stockholders to re-elect the Director to the Board, or the refusal of the Board to nominate the Director for re-election to the Board as a management nominee; (d) the resignation by the Director from the Board; or (e) Director is legally barred from service as a director.

Directorship Term. The “Directorship Term,” as used in this Agreement, shall mean the period commencing on from the Effective Date commencement of your appointment as a Director of the Company and terminating on the earlier of the date of the next annual stockholders meeting and the earliest of the following to occur: occur (subject to compliance with applicable laws): (a) the death of the Director or his disability sufficient to prevent his competent performance of the duties of a directorDirector; (b) the termination of the Director from his membership on the Board by the mutual agreement of the Company and the Director; (c) the removal of the Director from the Board by the vote or written consent of the requisite voting power of the stockholders of the Company in accordance with applicable law and the terms of the Company’s governing documents, or (d) the failure of the Company stockholders to re-elect the Director to the Board, or the refusal of the Board to nominate the Director for re-election to the Board as a management nomineeDirector; (de) the resignation by the Director from the Board; or (ef) upon the Director is legally barred becoming prohibited by law from service acting as a director.

Directorship Term. The “Directorship Term,” as used in this Agreement, shall mean the period commencing on from the Effective Date commencement of your appointment as a Director of the Corporation and terminating on the earlier of the date of the next annual stockholders meeting and the earliest of the following to occur: occur (subject to compliance with applicable laws): (a) the death of the Director or his disability sufficient to prevent his competent performance of the duties of a directorDirector; (b) the termination of the Director from his membership on the Board by the mutual agreement of the Company Corporation and the Director; (c) the removal of the Director from the Board by the vote or written consent of the requisite voting power of the stockholders of the CompanyCorporation in accordance with applicable law and the terms of the Corporation’s governing documents, or (d) the failure of the Company stockholders to re-elect the Director to the Board, or the refusal of the Board to nominate the Director for re-election to the Board as a management nomineeDirector; (de) the resignation by the Director from the Board; or (ef) upon the Director is legally barred becoming prohibited by law from service acting as a director.