Continuous Status as a Director definition

Continuous Status as a Director means the absence of any interruption or termination of service as a Director.
Continuous Status as a Director means the absence of any ------------------------------- interruption or termination of service as a Director.
Continuous Status as a Director means that the Director relationship is not interrupted or terminated.

Examples of Continuous Status as a Director in a sentence

  • In the event Optionee's Continuous Status as a Director terminates as a result of total and permanent disability (as defined in Section 22(e)(3) of the Code), the Optionee may exercise his or her Option, but only within twelve (12) months from the date of such termination, and only to the extent that the Optionee was entitled to exercise it at the date of such termination (but in no event later than the expiration of its ten (10) year term).

  • In the event an Optionee's Continuous Status as a Director terminates (other than upon the Optionee's death or total and permanent disability (as defined in Section 22(e)(3) of the Code)), the Optionee may exercise his or her Option, but only within three (3) months from the date of such termination, and only to the extent that the Optionee was entitled to exercise it at the date of such termination (but in no event later than the expiration of its ten (10) year term).

  • Termination Period This Option may be exercised for 90 days after termination of Optionee's Continuous Status as a Director, or such longer period as may be applicable upon death or Disability of Optionee as provided in the Plan, but in no event later than the Expiration Date as provided above.

  • If an interruption or termination of the Continuous Status as a Director occurs to an Outside Director, he or she may, but only within three (3) months after the date he or she ceases to be a Director of the Company, exercise his or her Option to the extent that he or she was entitled to exercise it at the date of such termination.

  • Notwithstanding the above, in the event of an Optionee's change in status from Consultant or Director to Employee or Employee or Director to Consultant, an Optionee's Continuous Status as a Director or Consultant shall not automatically terminate solely as a result of such change in status.


More Definitions of Continuous Status as a Director

Continuous Status as a Director means the absence of any interruption or termination of service as a Director. The Board, in its sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by the Company, including sick leave, military leave or any other personal leave.
Continuous Status as a Director means the absence of any interruption or termination of service as a Director. Continuous Status as a Director shall not be considered as interrupted in the case of sick leave, military leave, or any other leave of absence approved by the Board.
Continuous Status as a Director means the relationship as member of the Board of Directors is not interrupted or terminated with the Company or any Affiliate. Continuous Status as a Director shall not be considered interrupted in the case of : (1) any sick leave, military leave, or any leave of absence approved by the Committee.
Continuous Status as a Director means the absence of any interruption or termination of service as a Director. Continuous Status as a Director shall not be considered interrupted in the case of sick leave, military leave or any other leave of absence approved by the Board. With respect to a Participant who is both an Employee and a Director, Continuous Status as a Director shall not be considered interrupted solely because such Participant terminates service as an Employee so long as such Participant continues to be a Director without interruption.
Continuous Status as a Director means the absence of any interruption or termination of service as a member of the Board.
Continuous Status as a Director means the absence of any interruption or termination of service as a Director. Continuous Status as a Director shall not be considered interrupted in the case of sick leave, military leave, or any other leave of absence approved by the Board of Directors of Bio-Vascular.
Continuous Status as a Director means the director relationship is not interrupted or terminated. The Board, in its sole discretion may determine whether Continuous Status as a Director, shall be considered interrupted in the case of (i) any leave of absence approved by the Board, including sick leave, military leave, or any other personal leave; provided, however, that for purposes of Options any such leave may not exceed ninety (90) days, unless reestablishment of a Director relationship upon the expiration of such leave is guaranteed by contract (including certain Company policies) or statute; or (ii) transfers between the Company and any successor.