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Extract to table / memo-advance-notice-bylaw-compliance.docx
memo-advance-notice-bylaw-compliance.docx
Parties
Harkness LLP
Aurelius Global Media Group PLC
Corvus Peak Capital Partners LP
Delaware General Corp
Pinnacle Corporate Services Inc
Corvus Peak Management LLC
Company's Corp
Crane LLP
Dates
March 5, 2024
March 1, 2024
March 22, 2022
February 10, 2024
March 11, 2024
September 14, 2009
January 18, 2024
February 26, 2024
February 12, 2024
June 9, 2023
Amounts
$8.65
$1.2683
$7.2
$20.97
$752.8
Obligations
The Bylaws specify that the notice must be "in writing
We are not aware of any Delaware Court of Chancery decision that has held that an employment relationship alone, without more, constitutes the type of "agreement, arrangement, or understanding" that must be disclosed under a standard advance notice bylaw provision
14 of the Bylaws, the voting standard for the election of directors depends on whether the election is contested or uncontested: • Uncontested elections: In any election of directors that is not a contested election, each director shall be elected by a majority of the votes cast with respect to such director's election
Any incumbent director who fails to receive a majority of votes cast in an uncontested election is required to tender his or her resignation to the Board, which the Board is then required to act on within a specified period
• Contested elections: In any contested election — defined as an election in which the number of nominees for director exceeds the number of directors to be elected — each director shall be elected by a plurality of the votes cast
At the same time, Delaware courts have made clear that advance notice bylaws must be applied in good faith and in an even-handed manner