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 date hereof and terminating on the earliest of the following to occur: (a) the death of the Director ("Death"); (b) the termination of the Director from the position of member of the Board by the mutual agreement of the Company and the Director; (c) the removal of the Director from the Board by the shareholders of the Company; (d) the resignation by the Director from the Board if after the date hereof, the Chief Executive Officer of his current employer determines that the Director's continued service on the Board conflicts with his fiduciary obligations to his current employer (a "Fiduciary Resignation"); and (e) the resignation by the Director from the Board if the board of directors or the Chief Executive Officer of his current employer requires the Director to resign and such resignation is not a Fiduciary Resignation.

Appears in 3 contracts

Samples: Director Agreement (Sino Green Land Corp), Director Agreement (Sino Green Land Corp), Director Agreement (Henry County Plywood Corp)

AutoNDA by SimpleDocs

Directorship Term. The "Directorship Term", ," as used in this Agreement, shall mean the period commencing on the date hereof August 1, 2011 and terminating on the August 1 of 2014, or the earliest of the following to occur: (a) the death of the Director ("Death")Director; (b) the termination of the Director from the position of member of the Board by the mutual agreement of the Company and the Director; (c) the removal of the Director from the Board by the shareholders of the Company; (d) the resignation by the Director from the Board if if, after the date hereof, the Chief Executive Officer chief executive officer of his her current employer determines that the Director's continued service on the Board conflicts with his her fiduciary obligations to his her current employer (a "Fiduciary Resignation"); and (e) the resignation by the Director from the Board if the board of directors or the Chief Executive Officer chief executive officer of his her current employer requires the Director to resign and such resignation is not a Fiduciary Resignation.

Appears in 1 contract

Samples: Director Agreement (Dongsheng Pharmaceutical International Co., Ltd.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!