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These excerpts taken from the HOT DEF 14A filed Mar 26, 2009. What
happens if a Director nominee does not receive a majority of the
votes cast?
Under our Bylaws, a Director nominee, running uncontested, who
receives more “Withheld” than “For” votes is
required to tender his or her resignation for consideration by
the Board. The Corporate Governance and Nominating Committee
will recommend to the Board whether to accept or reject the
resignation. The Board will act on the tendered resignation and
publicly disclose its decision within 90 days following
certification of the election results. The Director who tenders
his or her resignation will not participate in the Board’s
decision with respect to that resignation.
What happens if a Director nominee does not receive a majority of the votes cast? Under our Bylaws, a Director nominee, running uncontested, who receives more “Withheld” than “For” votes is required to tender his or her resignation for consideration by the Board. The Corporate Governance and Nominating Committee will recommend to the Board whether to accept or reject the resignation. The Board will act on the tendered resignation and publicly disclose its decision within 90 days following certification of the election results. The Director who tenders his or her resignation will not participate in the Board’s decision with respect to that resignation. These excerpts taken from the HOT DEF 14A filed Mar 19, 2008. What
happens if a director nominee does not receive a majority of the
votes cast?
Under our Bylaws, a director nominee, running uncontested, who
receives more “Withheld” than “For” votes is
required to tender his or her irrevocable resignation for
consideration by the Board. The Governance and Nominating
Committee will recommend to the Board whether to accept or
reject the resignation. The Board will act on the tendered
resignation and publicly disclose its decision within
90 days following certification of the election results.
The Director who tenders his or her resignation will not
participate in the Board’s decision with respect to that
resignation.
What happens if a director nominee does not receive a majority of the votes cast? Under our Bylaws, a director nominee, running uncontested, who receives more “Withheld” than “For” votes is required to tender his or her irrevocable resignation for consideration by the Board. The Governance and Nominating Committee will recommend to the Board whether to accept or reject the resignation. The Board will act on the tendered resignation and publicly disclose its decision within 90 days following certification of the election results. The Director who tenders his or her resignation will not participate in the Board’s decision with respect to that resignation. | EXCERPTS ON THIS PAGE:
RELATED TOPICS for HOT: |
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