Stockholder Directors definition
Examples of Stockholder Directors in a sentence
Upon the occurrence of subsection (A) of the foregoing, both Restricted Stockholder Directors shall immediately tender their resignations to the Board.
At the end of the Designation Period, any Stockholder Directors then in office shall submit for the Board’s consideration his, her, or their resignations as Directors.
The Restricted Stockholders and the Restricted Stockholder Directors acknowledge that the fiduciary duties of the Restricted Stockholder Directors are owed to the Company and all of its stockholders and not solely to the other Restricted Stockholders, and that conflicts or appearances of conflicts may arise, in which case they may be faced with a decision to abstain from participation in any matter that may result in a conflict or have the appearance of a conflict.
Such Stockholder Directors are entering into this Agreement solely in their capacity as stockholders of the Company, and not as directors of the Company.
Effective at the Closing, the persons designated as such by Parent shall become the initial Parent Directors; the persons designated as such by the Individual Stockholders shall be the initial Stockholder Directors and the persons designated as such by Parent shall become the initial Outside Directors.
Parent shall be entitled at any time and for any reason (or for no reason) to designate one or more Parent Directors for removal, and a Majority Vote of the Individual Stockholders shall be entitled at any time and for any reason (or for no reason) to designate one or more Stockholder Directors for removal.
The Stockholder Directors and the Stockholder Indemnitors are intended third party beneficiaries of this Section 8(g) and shall have the right, power and authority to enforce the provisions of this Section 8(g) as though they were a party to this Agreement.
If the ▇▇▇▇ Designator fails to provide such written notice to the Board of Directors prior to the Designation Deadline, then the Board of Directors may deem the ▇▇▇▇ Designator to have designated for re-election any Stockholder Director(s) whose term will end at the upcoming meeting if such Stockholder Director(s) is(are) a Qualified Designee(s).
One of the Preferred B Stockholder Directors shall be nominated by the funds associated with New Enterprise Associates (the “NEA Director”), so long as such funds together with their affiliates hold at least 200,000 shares of the Company’s capital stock (as adjusted for stock splits, stock dividends, reverse stock splits and the like).
Notwithstanding anything herein to the contrary, nothing herein shall affect the ability of Stockholders who are directors of the Company ("Stockholder Directors") to take any action as directors of the Company permissible under the Merger Agreement or as such director may determine to be otherwise necessary to comply with the fiduciary duties as directors of the Company, whether or not such actions are consistent with the obligations of such Persons as Stockholders under this Agreement.