(d) the board will be responsible for appointing the president of the company who shall be referred to as the chief executive officer (the “ceo”) and who shall report to the board on a regular basis. attendance at the meeting by a director shall be deemed to be a waiver of the giving of such notice. the defining of their duties and functions and the salaries and remuneration to be paid to them will be a function of the board of directors.
in the event that the company is acquired by a third party or parties, all shares subject to vesting will become fully vested at that time. in the event that a founder’s employment is terminated for any reason, the shares held by the terminated employee will be cancelled and returned to the treasury of the company. 3.6 if the offerees by reason of the provisions hereinbefore contained, do not purchase the offered shares then the seller shall be at liberty to sell the offered shares to an outsider but only at a price equal to or in excess of the price contained in the selling notice and on the same terms as disclosed in the selling notice. 6.2 the parties hereby agree that notice of this agreement shall be endorsed in red ink on all certificates representing shares from time to time held or beneficially owned by them; and that a copy of this agreement shall be maintained in the legal records of the company.
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