Successor Designees Sample Clauses
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Successor Designees. At any time prior to the 2011 Annual Meeting, if any of the LaunchEquity Nominees (or any successor designee appointed pursuant to this Section 4) ceases for any reason to serve as a director of the Company, LaunchEquity shall be entitled to designate a replacement for such LaunchEquity Nominee, who is reasonably deemed qualified by the Company’s Board and Governance Committee in accordance with the Company’s policies and the directors’ fiduciary duties, to hold office for the remaining unexpired term of such LaunchEquity Nominee (or any successor designee appointed pursuant to this Section 4). The Company shall take all necessary action to cause the Board to appoint such successor designee to the Board as promptly as practicable. Any such successor designee who becomes a Board member pursuant to this Section 4 shall be deemed to be a “LaunchEquity Nominee” for all purposes under this Agreement.
Successor Designees. If an Investor Designee shall cease to serve as a director for any reason, the Company’s Board of Directors shall appoint and elect a replacement director to serve out the remaining term of the existing director upon written notice to the Company by the Investor. The Lead Investors may designate a nominee to succeed any such resigning Investor Designee, and the Nominating and Corporate Governance Committee shall consider such nominee for nomination to the Board of Directors.