(a) The terms of the initial directors of a corporation expire at the first stockholders' meeting at which directors are elected.
(b) The terms of all other directors expire at the next, or if their terms are staggered in accordance with Section 10A-2A-8.06, at the applicable second or third, annual stockholders' meeting following their election, except to the extent (i) provided in Section 10A-2A-10.22 if a bylaw electing to be governed by that section is in effect, or (ii) a shorter term is specified in the certificate of incorporation in the event of a director nominee failing to receive a specified vote for election.
(c) A decrease in the number of directors does not shorten an incumbent director's term.
(d) Except as set forth in the next sentence of this subsection, the term of a director elected to fill a vacancy expires at the next stockholders' meeting at which directors are elected. The term of a director elected to fill a vacancy in a corporation, the directors of which have been divided into groups under Section 10A-2A-8.06, shall hold office until the next election of the group for which that group of directors has been chosen, and until their successors shall be elected and qualified.
(e) Except to the extent otherwise provided in the certificate of incorporation or under Section 10A-2A-10.22 if a bylaw electing to be governed by that section is in effect, despite the expiration of a director's term, the director continues to serve until the director's successor is elected and qualifies or there is a decrease in the number of directors.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 2A - Alabama Business Corporation Law.
Article 8 - Directors and Officers.
Division A - Board of Directors.
Section 10A-2A-8.01 - Requirement for and Functions of Board of Directors.
Section 10A-2A-8.02 - Qualifications of Directors.
Section 10A-2A-8.03 - Number and Election of Directors.
Section 10A-2A-8.04 - Election of Directors by Certain Classes or Series of Stock.
Section 10A-2A-8.05 - Terms of Directors Generally.
Section 10A-2A-8.06 - Staggered Terms for Directors.
Section 10A-2A-8.07 - Resignation of Directors.
Section 10A-2A-8.08 - Removal of Directors by Stockholders.
Section 10A-2A-8.09 - Removal of Directors by Judicial Proceeding.