Term Clause Example from Business Contracts

Term. This Agreement is effective as of the date of the filing of the 8k. Your term as director shall continue subject to the provisions in Section 9 below or until your successor is duly elected and qualified. The position shall be up for re-election each year at the annual shareholder's meeting and upon re-election (unless a staggered board is implemented), the terms and provisions of this Agreement shall remain in full force and effect.