New Parent Board definition
Examples of New Parent Board in a sentence
The Lead Independent Director shall ensure that the New Parent Board functions effectively and independently of management of New Parent and other non-independent directors and shall support the Executive Chair in setting a forward-looking board agenda focused on strategic matters, taking into account the issues and concerns of all board members.
It is contemplated by the parties that the Executive shall serve as a member of the New Parent Board during the Benefit Continuation Period.
The initial New Parent Board shall consist of five (5) members, consisting of ▇▇▇▇▇▇▇ ▇.
The New Parent Board shall establish the overall policies of New Parent, set New Parent’s strategic direction, and oversee management and the affairs of New Parent.
The Executive Chair shall be considered an executive officer of New Parent reporting to the New Parent Board, shall maintain an office in a location where New Parent regularly conducts its business, and shall be supported by sufficient staff to effectively discharge the above described functions.
The Chief Executive Officer shall report to the New Parent Board.
The Executive Chair shall lead the New Parent Board in the ethical stewardship of New Parent and its business.
Immediately upon such a termination, the Executive shall receive the Post-Employment Compensation as described in Section 4(f), provided that the obligation of Company to provide these benefits shall cease upon the Executive's refusal to serve as a member of the New Parent Board.
The Confirmation Order shall authorize and require the New Parent Board to adopt and enter into the Management Incentive Plan, on the terms and conditions set forth in the MIP Term Sheet.
To the extent the New Parent Board determines that the New Agreement is inconsistent with market practices, the New Parent Board will provide a notice (the “Notice”) to M▇.