Common use of Incumbent Board Clause in Contracts

Incumbent Board. “Incumbent Board” shall mean the individuals who, as of the Effective Date, are members of the Board. If the election, or nomination for election by the Company’s stockholders, of any new director is approved by a vote of at least fifty percent (50%) of the Incumbent Board, such new director shall be considered as a member of the Incumbent Board.

Incumbent Board. “Incumbent Board” shall mean means the individuals who, as Board of Directors of the Effective DateBANK on the date hereof, are members of provided that any person becoming a director subsequent to the Board. If the election, or nomination for date hereof whose election by the Company’s stockholders, of any new director is was approved by a vote of at least fifty percent (50%) three quarters of the directors comprising the Incumbent Board, such new director or whose nomination for election by stockholders was approved by the same nominating committee serving under an Incumbent Board, shall be considered as though such individual were a member of the Incumbent Board.