Sentence examples for classes of directors from inspiring English sources

FedEx, which previously opposed the change, now has three classes of directors who serve staggered three-year terms.

A version of the pre-2007 governance problem is playing out in full view, this time through interactions between different "classes" of directors at regional Feds.

There is no doubt that this kind of pay arrangement sets up two classes of directors doing the same job but being paid very different amounts.

Twitter will have three classes of directors who are elected in different years, making it significantly more difficult to replace the board in one fell swoop.

Vacancies that may occur in the several classes of directors of Federal reserve banks may be filled in the manner provided for the original selection of such directors, such appointees to hold office for the unexpired terms of their predecessors.

Although this Court never has been called upon to interpret the Annual Meeting Term Alternative specifically, the Delaware cases that involved similar charter language regard that language as creating a staggered board with classes of directors who serve three year terms.

Unlike the Annual Meeting Term Alternative, the Defined Term Alternative unambiguously provides in the charter itself that each class of directors serves for three years.

It supports a construction that the Annual Meeting Term Alternative is intended to provide that each class of directors serves three year terms.

Second, Air Products argues that Essential Enterprises is distinguishable because the charter in that case explicitly stated that each class of directors "shall be elected to hold office for the term of three years," whereas the Annual Meeting Term Alternative does not.

Thus, this model form commentary confirms the understanding that the Annual Meeting Term Alternative intends to provide that each class of directors is elected for a three year term.

The charter provision at issue relevantly provided: "At each annual election, commencing at the next annual meeting of the stockholders, the successors to the class of directors whose term expires in that year shall be elected to hold office for the term of three years to succeed those whose term expires so that the term of office of one class of directors shall expire in each year". Id. at 290.