Director’s Representation and Acknowledgment Clause Example from Business Contracts

Director’s Representation and Acknowledgment. (a) The Director acknowledges and agrees that his position as member of the Board will result in him being deemed to be an "affiliate" of the Company for purposes of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and the regulations promulgated thereunder (collectively, the "Securities Laws"). (b) Other than the Settlement Agreement, there is no arrangement, agreement or understanding between the Director and any other persons pursuant to which the D...irector is being appointed to the Company's Board of Directors. (c) The Director represents to the Company that his execution and performance of this Agreement shall not be in violation of any agreement or obligation (whether or not written) that he may have with or to any person or entity, including without limitation, any prior or current employer. The Director hereby acknowledges and agrees that this Agreement (and any other agreement or obligation referred to herein) shall be an obligation solely of the Company, and the Director shall have no recourse whatsoever against any officer, director, employee, stockholder, representative or agent of the Company or any of their respective affiliates with regard to this Agreement. View More