Can you rewrite the sentence below in plain language? Here’s some context: The company has 2 shareholders and each one sits on the Board.
“Should any vacancy occur on the Board, such vacancy shall be filled forthwith by the appointment of a nominee by the Shareholder who is not then represented by the nominee to which he is entitled.”
You can either send your rewrite to me directly (jodyb@brunerbiz.com) or put it in the comments below. I’ll post the winning entry in the next newsletter.
By the way, I asked the lawyers who gave me this awful boilerplate agreement to rewrite the clause, and I’ll share their answers once I get your rewrites. Good luck!
” Should a vacancy occur, the position is to be filled as soon as possible. The new nominee will be appointed by the shareholder that was represented by the previous nominee.”
Nice, Dave!
Hi Jody,
I suspect that the whole agreement needs to be rewritten if the rest of it is anything like this! Here is my suggestion. I try to avoid ¨forthwith¨ or any vague time expressions in contracts so I´ve suggested inserting a specific time frame for the new appointment.
¨If a vacancy on the Board occurs, the Shareholder who appointed the previous holder of the vacant Board seat shall appoint a new nominee no later than [X] days after the vacancy occurs.¨
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