Shareholders' Agreements · glossary
The smallest attendance at which the board can decide: two directors, including an A Director and a B Director, present throughout. A meeting without a quorum is adjourned for five business days. If the adjourned meeting also has none, that is a Deadlock Event. Clause 4.5 · Article 8 · Chapter 3
Explained in Chapter 3, The Board, of Shareholders' Agreements.
Also explained in Corporate Governance and Venture Deals.
A quorum is the smallest attendance at which a meeting can decide anything. Ferris wanted the usual rule of any two directors. A&W wanted no meeting without a B Director, so that nothing could be decided behind its back.Read Chapter 3, The Board →
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