SPPR Senior Management. During any time the Purchaser has the right to have two or more Investor Designees to serve on the Board of Directors, then the Purchaser will have the right to require SPPR to hire one individual to the SPPR Senior Management team on terms reasonably acceptable to SPPR and the Purchaser and subject to SPPR Board approval. Such person may serve as an Investor Designee Director provided the majority of Board of Directors, exclusive of the Investor Designees, approve. It will be the responsibility of the SPPR CEO to identify and present candidates for the position, exclusive of any persons not acceptable to Purchaser.
Appears in 4 contracts
Samples: Directors Designation Agreement, Directors Designation Agreement (Supertel Hospitality Inc), Purchase Agreement (Supertel Hospitality Inc)
