Definition of 20% Director


20% Director means any director who either alone or together with his spouse and minor children is or becomes or at any time within three years of the specified Normal Retirement Age, or earlier cessation or service was the beneficial owner of shares which, when added to any shares held by the trustees of any settlement to which the director or his spouse had transferred assets, carry or carried more than 20% of the voting rights in the Employers or in a company which controls the Employers.

Examples of 20% Director in a sentence

Bainbridge, Unocal at 20: Director Primacy in Corporate Takeovers, 31 DEL.
Interest shall be payable on dates acceptable to the 20 Director of Finance.
The 20 Director will assign the appeal for review to technical support or other staff not involved in 21 the original decision.
The Planning 20 Director shall not issue a permit or renew a permit without written approval by the 21 Director of the Lincoln- Lancaster County Health Department.
The Secretary of Health and Social Services shall submit to the 20 Director of the Office of Management and Budget, the Controller General and the Co-Chairs of the Joint Finance 21 Committee a report detailing the feasibility of implementing a global health care benchmark by December 1, 2017.