Common use of Removal of Directors by Stockholders Clause in Contracts

Removal of Directors by Stockholders. Any individual ------------------------------------ Director may be removed from office without assigning any cause by the affirmative vote of the holders of a majority of the outstanding shares entitled to elect such Director. In case any one or more Directors are so removed, new Directors may be elected at the same time.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Genvec Inc), Stock Purchase Agreement (Genvec Inc)

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Removal of Directors by Stockholders. Any The entire Board of Directors or any individual ------------------------------------ Director may be removed from office with or without assigning any cause by the affirmative a majority vote of the holders of a majority of the outstanding shares then entitled to elect such Directorvote at an election of directors. In case the Board of Directors or any one or more Directors are be so removed, new Directors may be elected at the same timetime for the unexpired portion of the full term of the Director or Directors so removed.

Appears in 2 contracts

Samples: Merger Agreement (Numbeer, Inc.), Merger Agreement (Ram Energy Resources Inc)

Removal of Directors by Stockholders. Any individual Director ------------------------------------ Director may be removed from office without assigning any cause by the affirmative vote of the holders of a majority of the outstanding shares entitled to elect such Director. In case any one or more Directors are so removed, new Directors may be elected at the same time.

Appears in 1 contract

Samples: Stock Purchase Agreement (Genvec Inc)

Removal of Directors by Stockholders. Any The entire Board or any individual ------------------------------------ Director director may be removed from office with or without assigning any cause by the affirmative a majority vote of the holders of a majority of the outstanding shares of Common Stock and Series B Preferred Stock, voting together as a single class, then entitled to elect such Directorvote at an election of directors. In case the Board or any one or more Directors are directors be so removed, new Directors directors may be elected by such stockholders at the same timetime for the unexpired portion of the full term of the director or directors so removed.

Appears in 1 contract

Samples: Merger Agreement (Parametric Sound Corp)

Removal of Directors by Stockholders. Any The entire Board of Directors or any individual ------------------------------------ Director may be removed from office with or without assigning any cause by the affirmative vote of the holders of a majority stockholders representing not less than two-thirds of the voting power of the issued and outstanding shares stock entitled to elect vote. Notwithstanding the foregoing, if the Corporation’s board is classified, stockholders may effect such Directorremoval only for cause. In case the Board of Directors or any one or more Directors are be so removed, new Directors may be elected at the same timetime for the unexpired portion of the full term of the Director or Directors so removed.

Appears in 1 contract

Samples: Merger Agreement (Goal Acquisitions Corp.)

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Removal of Directors by Stockholders. Any The entire Board of Directors or any individual ------------------------------------ Director may be removed from office with or without assigning any cause by the affirmative a majority vote of the holders of a majority of the outstanding shares then entitled to elect vote at an election of Directors. Notwithstanding the foregoing, if the Board of Directors is classified, stockholders may effect such Directorremoval only for cause. In case the Board of Directors or any one or more Directors are be so removed, new Directors may be elected at the same timetime for the unexpired portion of the full term of the Director or Directors so removed.

Appears in 1 contract

Samples: Merger Agreement (Adit EdTech Acquisition Corp.)

Removal of Directors by Stockholders. Any The entire Board of Directors or any individual ------------------------------------ Director director, in each case other than the Series A Directors may be removed from office without assigning any with cause by the affirmative a majority vote of the holders of a majority of the outstanding shares then entitled to elect such Directorvote at an election of directors. In case the Board of Directors or any one or more Directors are directors be so removedremoved (other than the Series A Directors), new Directors directors may be elected at the same timetime for the unexpired portion of the full term of the director or directors so removed.

Appears in 1 contract

Samples: Securities Purchase Agreement (JetPay Corp)

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