Election of Boards of Directors Clause Samples
The 'Election of Boards of Directors' clause outlines the process by which members or shareholders select individuals to serve on a company's board of directors. Typically, this clause specifies the timing, method (such as voting procedures), and eligibility requirements for board elections, and may address issues like staggered terms or the filling of vacancies. By clearly defining how directors are chosen, the clause ensures orderly governance and helps prevent disputes over board composition, thereby supporting effective management and oversight of the organization.
Election of Boards of Directors. During the term of this Agreement, each Voting Party agrees to vote all Shares in such manner as may be necessary to ensure that the size of the Company’s Board of Directors shall be set at nine (9) and to elect (and maintain in office) as members of the Company’s Board of Directors the following individuals:
Election of Boards of Directors. If the closing condition in Section 8.3(o) of the Merger Agreement (the “Closing Condition”) is satisfied at the Closing, each Voting Party agrees to vote all shares of Common Stock it beneficially owns in such manner as may be necessary to elect (and maintain in office) ▇▇▇▇▇▇ ▇▇▇ as a member of the Second Class of the Post-Closing Board of Directors as set forth in the Amended and Restated Certificate of Incorporation of the Company, as the same may be amended and/or restated from time to time.
Election of Boards of Directors. During the term of this Agreement, each Voting Party agrees to vote all Shares, now owned or hereafter acquired, in such manner as may be necessary to elect (and maintain in office) as members of the Company’s Board of Directors the following individuals:
(a) for so long as ▇▇▇▇▇ ▇. ▇▇▇▇ holds at least forty percent (40%) of the then-outstanding shares of Common Stock, one designee (the “Common Director”) of the Founders holding a majority of the then-outstanding shares of Common Stock held by the Founders (initially to be ▇▇▇▇▇ ▇. ▇▇▇▇); provided, however, that at any time after ▇▇▇▇▇ ▇. ▇▇▇▇ no longer holds at least forty percent (40%) of the then-outstanding shares of Common Stock, the Company’s then-current Chief Executive Officer (or, if the Company shall not have a Chief Executive Officer, the person then-serving as the Company’s President) shall serve as the Common Director;
(b) one designee of Austin Ventures VIII, L.P. (“AV”) as the Series A/B Director (initially to be ▇▇▇▇▇ ▇▇▇▇▇▇▇);
(c) one designee of Battery Ventures VIII, L.P. (“Battery”) as the Series C Director (initially to be ▇▇▇▇▇▇ ▇▇▇▇▇▇▇); and
(d) three designees (each, a “Mutual Director”) mutually agreed upon by each of the directors elected pursuant to subsections 2(a), (b) and (c) above (initially to be ▇▇ ▇▇▇▇▇▇ and ▇▇▇ ▇▇▇▇▇▇▇▇▇▇, with the remaining designee to be appointed after the date hereof).
Election of Boards of Directors