Employee Director Clause Samples
The EMPLOYEE DIRECTOR clause designates an individual who is both an employee of the company and serves as a director on its board. Typically, this clause outlines the process for appointing such a director, their rights and responsibilities, and any conditions specific to their dual role, such as reporting lines or conflict of interest provisions. Its core function is to formalize the participation of a company employee in board-level decision-making, ensuring clear governance and representation of internal perspectives at the board level.
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Employee Director. If the Director becomes employed by the Employer, the distribution of shares as described in Section 6 below shall be subject to applicable federal (including FICA), state and local tax withholding requirements pursuant to Section 14 of the 2007 Plan.
Employee Director. The Company and you agree that they will both be subject to and bound by all of the terms and conditions of the Plan. The Plan prospectus is accessible on the Company’s intranet website, Mainstreet (in the HR Policy Manual – Employee Benefits area), or a paper copy is available upon request. Any capitalized term not defined herein shall have the meaning ascribed to it in the Plan. In the event of a conflict between the terms of this Agreement and the terms of the Plan, the terms of the Plan shall govern.
Employee Director fully vested and exercisable with respect to all Option Shares covered by this Option as of the time immediately prior to such termination of employment and notwithstanding any other provision hereof (except Section 6(b)), this Option shall become exercisable by you for 30 days following such termination. For purposes of this Agreement, “
Employee Director. For purposes of this Option, years of service shall be deemed to include both years of employment and years of service as a Member without giving effect to any duplication.
Employee Director. Please acknowledge acceptance of this Agreement by signing the enclosed copy of this Agreement in the space provided below and returning it promptly to ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇.
Employee Director. If the Director becomes employed by the Employer, the transfer of Option Shares as described in Section 13 below shall be subject to applicable federal (including FICA), state and local tax withholding requirements pursuant to Section 14 of the 2007 Plan.