Local Advisory Board Clause Samples
Local Advisory Board. If an impasse is reached during negotiations, the matter may be submitted to an advisory board within ten days after the request of either party. The impasse panel, hereinafter referred to as the “panel,” shall consist of three persons to be selected in the following matter; one person appointed by the District, one person appointed by the Association, and a third person selected by the representatives of the District and the Association. The third person selected shall act as chairperson of the panel and shall be selected from a list of ten individuals agreed upon by the representatives of the parties at the beginning of the negotiations. The list of ten individuals shall be prepared as follows: The Board representatives shall submit ten names of residents of the District to the Association representatives who shall eliminate five names. The Association shall submit ten names of residents of the District to the District who shall eliminate five names. The remaining individuals shall be considered the list of ten from which the chairperson of the panel is selected. If the representatives of the parties cannot agree on a chairperson within six days after their appointments, they shall determine by lot who shall strike first from the list of ten names and thereafter alternately strike names until one name remains on the list and the remaining person shall act as chairperson. The panel shall meet with both parties or their representatives, either jointly or separately, in order to persuade the parties to resolve their differences and effect a mutually acceptable agreement. The panel shall meet with the parties within five days after their appointment. If the panel is unable to affect a settlement within five days thereafter, it shall prepare a written report of the proceedings including the items which have been resolved and the items which remain at impasse which shall be submitted to the parties.
Local Advisory Board. For a period of one (1) year following the consummation of the Mergers, Purchaser Bank shall maintain at the current location of the Target Bank a local advisory board, the members of which shall be ▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, D. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, ▇▇., ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇., ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇., ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, J. ▇▇▇▇▇ ▇▇▇▇ and ▇▇▇▇▇ ▇. ▇▇▇▇▇. Each advisory board member shall receive compensation for his or her service in the amount of $300 per month.
Local Advisory Board. From the Effective Time until the earlier of time that (i) the Subsidiary Combination is consummated or (ii) Buyer otherwise determines to replace the directors of Republic Security Bank, Buyer shall permit the non-employee directors of Republic Security Bank as of the date of this Agreement to continue as directors thereof. From the earlier of (i) and (ii) in the preceding sentence, Buyer will cause Wachovia Bank, N.A. to create a local advisory board for Palm Beach, Florida and to appoint to the advisory board each such non-employee director who is willing to serve. The local advisory board and each director's appointment will continue in accordance with Wachovia Bank, N.A.'s customary practices for a minimum period of two years from the Effective Time. From the Effective Time, each continuing member of Republic Security Bank's Board of directors or of the advisory board shall receive fees in accordance with Buyer's usually and customary practices, but in no event less than $1,200 annually (with an appropriate reduction in fees for unattended meetings). Service on the Board of Directors of Republic Security Bank and the advisory board shall be treated as service with Buyer for purposes of any Republic Rights outstanding at the Effective Time under Republic's 1991 Director Stock Option Plan, 1993 Director Stock Option Plan, 1997 Performance Incentive Plan, or the plans of any company previously acquired by Republic. Notwithstanding any other provision in this Section 8.19, Buyer shall not be obligated to permit any person to continue as a director of Republic Security Bank or to serve on the advisory board unless such director shall have exercised on or prior to the Effective Time each of the options and warrants that are beneficially owned by him or her and that would be in-the-money at the Effective Time.
Local Advisory Board. The Big Picture Company agrees that its school will have a Local Advisory Board. Big Picture intends that this board will either be an elected or appointed Local Advisory Board, or if necessary, Big Picture will negotiate with San Diego City Schools regarding other forms of alternative advisory bodies.
Local Advisory Board. At the effective time of the merger of National Bank of Commerce into Wachovia Bank, Wachovia will cause Wachovia Bank to create a local advisory board for Orange County, Florida. The local advisory board will continue in accordance with Wachovia Bank's customary practices for its local advisory boards for a minimum period of one year from the date of the merger of National Bank of Commerce into Wachovia Bank (provided, however, that Wachovia shall, for the first year, pay a retainer of $3,000 to each member of the local advisory board). Wachovia Bank will appoint up to 12 of the qualified non-employee directors of National Bank of Commerce to the local advisory board and will consult with National Bank of Commerce to determine the appropriate individuals to appoint to this board.
Local Advisory Board