Terms for Directors Sample Clauses
The 'Terms for Directors' clause defines the duration and conditions under which individuals serve as directors on a company's board. Typically, it outlines the length of each director's term, procedures for reappointment or replacement, and any limits on consecutive terms. For example, it may specify that directors serve three-year terms with the possibility of re-election. This clause ensures clear governance by establishing predictable cycles for board membership and helps prevent disputes regarding the tenure and succession of directors.
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Terms for Directors. (a) The Chair shall be initially appointed for a term not less than two years, and not more than five years.
(b) The Chair may be reappointed for a further term, or terms, of not less than two years or more than five years however the total of all terms served shall not exceed ten years.
(c) Subject to sections (d) and (e), each other Director shall be appointed for a term of three years and may serve a maximum of two consecutive terms.
(d) Other Directors shall serve staggered terms. For the initial appointments, two Directors nominated by each Party shall serve for an initial three year term, one Director nominated by each Party shall serve a two year term, and one Director nominated by each Party shall serve for an initial one year term.
(e) One of the Directors nominated by the Union, as long as he or she is both an employee of the Union and a Member, may serve for any number of consecutive terms.
(f) One of the Directors nominated by the Minister, as long as he or she is an employee of the Province, may serve for any number of consecutive terms.
(g) Directors shall serve for terms ending on December 31.
(h) A Director shall not be a member of the Teachers’ Pension Board.
Terms for Directors. The Directors shall serve for three (3) year terms subject to the will of the Governing Bodies. Directors may be appointed to successive terms. If a vacancy occurs during a term, the Governing Body for that Municipality shall appoint a replacement. Directors shall serve until their successors are seated.
Terms for Directors. (a) Subject to Paragraph (b), a Director shall serve for a three year term.
(b) For the initial appointment of Directors, two Directors appointed by each of the Government and the Unions shall serve for an initial four year term, two Directors appointed by each of the Government and the Unions shall serve for an initial three year term, and two Directors appointed by each of the Government and the Unions shall serve for an initial two year term.
(c) No later than six months before the expiry date of a Director’s term, the Chair shall give written notice to the entity that appointed the Director of the expiry of the Term.
(d) A Director shall continue to serve until their replacement is appointed or they resign, in which case the entity that appointed the Director shall, within 30 days of receiving notice of the vacancy, appoint a successor Director to serve for the remaining term of that Director.
Terms for Directors. Subject to below, a Director shall serve for a three year term. For the initial appointment of Directors, two Directors appointed by each of the Government and the NLTA shall serve for an initial four year term and two Directors appointed by each of the Government and the NLTA shall serve for an initial three year term. A Director shall be eligible to serve for more than one term. No later than six months before the expiry date of a Director’s term, the Chair shall give written notice to the Party that appointed the Director of the expiry of the term.