Membership of Board of Directors. The membership of the Board of Directors of the Company shall be determined pursuant to the Stockholders Voting Agreement.
Membership of Board of Directors. Item 7 Item 7 specifies who will and may be directors of the company. It is important that you list the particular individuals who are already or who will be the directors of the company after the Agreement has been signed. It is also important that you specify how the directors may be nominated and appointed. The standard structure of the agreement is that the individual shareholders can nominate people to be appointed as directors. However, the appointment of a person as a director is made by a meeting of the shareholders, which must pass the motion appointing the directors with the specified majority. If you have a reasonably large number of shareholders (e.g., over four), you might wish to limit the ability to nominate a person to be a director to a shareholder who has, for example, 15% or 20% of the shares. This means that smaller shareholders will not be able to nominate a person to be a director.
Membership of Board of Directors. Employee shall be a director of Employer until the next annual meeting of shareholders of Employer.
Membership of Board of Directors. The Company shall have taken all necessary actions so that the membership of the Board of Directors of the Company and each of its Subsidiaries shall be as designated in writing by the Majority Purchasers prior to the Closing Date.
