Continuing Director Definition Example

Continuing Director. Means an individual (i) who is, as of the effective date of the Plan, a director of the Company, or (ii) who becomes a director of the Company after the effective date hereof and whose initial election, or nomination for election by the Company's shareholders, was approved by at least a majority of the then Continuing Directors but excluding, for purposes of this clause (ii), an individual whose initial assumption of office occurs as the result of a proxy contest involving the solicitation of... proxies or consents by a person or Group other than the Board, or by reason of an agreement intended to avoid or settle a proxy contest. View More