interesting that this kind of language is accepted legalese
par. 80.IV and 80.V seeks both civil penalties and removal from office.
Is it feasible that Musk/Tesla can negotiate only penalties, thus keeping him on the board? Given Musk's position of power over the board, and importance to the company, I could see the board agreeing to it, but would the government.
"Pray" is an old word that means to ask. Hence "prithee", which is kind of a mashed together "pray thee" (which means "ask you"). And "prayer" is noun form of that verb.
Yes, the words are really old (archaic-sounding if not actually archaic), but that happens all the time in legalese.
And yes, they have religious connotations, but they are also used in secular ways. For example, from Shakespeare's "Romeo and Juliet": "I pray thee, good Mercutio, let's retire: The day is hot, the Capulets abroad".
https://guernseypress.com/news/2016/12/15/man-raises-clameur...
The procedure used there:
As a procedural matter, they probably could still settle the case if both sides agreed to do that. But the best deal Tesla could get now is almost certainly worse than what was on offer Monday -- particularly since the case against Musk looks awfully close to open-and-shut.
(The case: 1) He said he had funding secured, 2) he didn't, and 3) the result was to run up the stock price to his personal benefit. 1) and 3) are matters of easily accessible public record; as for 2), Musk thought he could get the money from the Saudi government's "sovereign wealth fund", which was thinking about formally providing it, but had absolutely not agreed to do so. During the BFR announcement, Elon talked pretty frankly about his habit of promising best-case outcomes to give people something to shoort for -- but when it comes to public statements about company financials, it's a very, very, very bad idea.)