BW Stock Unit means a measure of participation under the Plan which has a value based on Common Stock. Each BW Stock Unit credited to a Participant’s Account represents an obligation of the Company or relevant Employer to make a payment of cash equal to the fair market value of a share of Common Stock to such Participant at such time as the Participant’s Account shall become distributable to him or her under the terms of the Plan. In the event of any Company stock split, stock dividend, recapitalization, reorganization, merger, consolidation, combination, exchange of shares, liquidation, spin-off or other similar change in capitalization or event, or any distribution to holders of Common Stock other than a regular cash dividend, the number of BW Stock Units credited to Participants’ Accounts under the Plan shall be appropriately adjusted by the Board of Directors. The decision of the Board of Directors regarding any adjustment shall be final, binding, and conclusive.
BW Stock Unit means a measure of participation under the Plan which has a value based on the Market Value of Common Stock. In the event of any Company stock split, stock dividend, recapitalization, reorganization, merger, consolidation, combination, exchange of shares, liquidation, spin-off or other similar change in capitalization or event, or any distribution to holders of Common Stock other than a regular cash dividend, the number of BW Stock Units credited to Participants’ BW Stock Units Accounts under the Plan shall be appropriately adjusted by the Board of Directors. The decision of the Board of Directors regarding any adjustment shall be final, binding, and conclusive. 2.5 “BW Stock Units Account” means the subaccount of each Participant Account that is established to reflect the Participant’s selection of BW Stock Units as an Investment Option and to record the Company’s liability therefor, and which has a value based on the Market Value of Common Stock. 2.6 “Committee” means the committee of the Company appointed by the Board of Directors to manage and administer the Plan. This Committee shall consist of all or a portion of those members of the Board of Directors who are employees of the Company. 2.7 “Common Stock” means the common stock, $0.01 par value, of BorgWarner Inc. 2.8 “Company” means BorgWarner Inc. (formerly, Borg-Warner Automotive, Inc.). 2.9 “Deferral Election” means the election agreement filed with the Committee by a Participant for a Plan Year pursuant to the requirements of Article IV. The Deferral Election shall indicate the percentage of the annual Retainer Fee that a Participant is deferring, an allocation of the annual Retainer Fee deferral among the Plan’s notional investment funds, and an election as to the time and form of payment of the amounts deferred and associated earnings or losses. 2.10 “Deferral Year” means any calendar year with respect to which a Participant files a Deferral Election, beginning as of January 1, 1995, and continuing until this Plan is terminated. 2.11 “Deferred Benefit Account” means the account maintained on the books of the Company for each Deferral Election of a Participant pursuant to Article IV. 2.12 “Disability” or “Disabled” means that a Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months.
Examples of BW Stock Unit in a sentence
Figure 2d shows an over annealed contact on wafer C, that was annealed for 7 minutes at 450 ◦C.