Series B Nominee definition
Examples of Series B Nominee in a sentence
No Member of the Series B Group, including any Series B Nominee, shall have any obligation to communicate or offer any Renounced Business Opportunity to the Corporation, and any member of the Series B Group may pursue a Renounced Business Opportunity.
The quorum for any committee meeting of the Board shall include the Series A Nominee and the Series B Nominee.
The register of members and register of directors delivered under this Section 4.01(f) shall reflect the issuance of the Shares pursuant to this Agreement and the election of the Series B Nominee (as defined in the Shareholders Agreement), respectively.
The Compensation Committee shall make recommendations to the full Board for such matters as management compensation, the Company's benefit plans, and matters relating to the Company's option plans, if any, which shall include the Series A Nominee and the Series B Nominee.
If the Series B Nominee continues to be a director of the Company following a Qualified IPO, the Company shall obtain on commercially reasonable terms and maintain a director and officer insurance policy or policies with an internationally reputable insurance company and the coverage, term and policy limits of such insurance policy or policies shall be reasonably satisfactory to the Series B Nominee.
A quorum for any meeting of the Board shall consist of more than fifty percent (50%) of all the directors, provided that the quorum shall include the Series A Nominee and the Series B Nominee.
All other Board committees formed from time to time shall include the Series A Nominee and the Series B Nominee as members.
If the Lead Series B Shareholder, together with its Affiliates, ceases to hold at least thirty-three percent (33%) of the Series B Conversion Shares, the Lead Series B Shareholder shall remove the Series B Nominee, or cause the Series B Nominee to resign, from the board of directors of each of the Company and the Operating Subsidiary, in each case, immediately following the appointment by the Founder of a replacement director therefor.
Any appointment or removal of independent directors of the Company and/or its Subsidiaries shall be subject to the written consent of the Series B Nominee, if any.
The chairperson of the Audit Committee shall be designated by the mutual agreement of the Series A Nominee and the Series B Nominee.