Termination from the Board Sample Clauses
The 'Termination from the Board' clause defines the conditions and procedures under which a board member's appointment may be ended before the expiration of their term. Typically, this clause outlines specific grounds for removal, such as misconduct, breach of fiduciary duty, incapacity, or failure to attend meetings, and may describe the process for voting or notifying the affected member. Its core practical function is to provide a clear and orderly mechanism for removing board members when necessary, thereby protecting the organization's governance and ensuring accountability.
Termination from the Board. Upon the termination of the Executive’s employment for any reason, the Executive’s membership on the Board, the board of directors of any Affiliates of Sempra Energy, any committees of the Board and any committees of the board of directors of any of the Affiliates of Sempra Energy, if applicable, shall be automatically terminated and the Executive agrees to take any and all actions (including resigning) required by Sempra Energy or any of its Affiliates to evidence and effect such termination of membership.
Termination from the Board. Upon the termination of the Executive’s employment for any reason, the Executive’s membership on the Board, the board of directors of any of the Company’s Affiliates, any committees of the Board and any committees of the board of directors of any of the Company’s Affiliates, if applicable, shall be automatically terminated.
Termination from the Board. If the Participant serves his/her full term as a member of the Board of Directors of the Company but either chooses not to stand for re-election or is not re-elected prior to the time the Units vest, the unvested Units shall continue to vest in accordance with the vesting schedule provided in the Restricted Stock Unit Agreement and shall be converted to shares of the Company’s common stock and shall be delivered to the Participant at the time of vesting. If the Participant resigns prior to his/her full term or is involuntarily removed from the Board, any unvested Units shall be forfeited (unless the Board determines otherwise).