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 that the Director relationship is not interrupted or terminated.

Examples of Continuous Status as a Director in a sentence

Within three (3) months after the termination of Continuous Status as a Director, the Option may be exercised, at any time within six (6) months following the date of death, by the Optionee's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent of the right to exercise that had accrued at the date of termination.

Three (3) months after the termination of Continuous Status as a Director, the Option may be exercised, at any time within six (6) months following the date of death, by the Optionee's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent of the right to exercise that had accrued at the date of termination.

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).

If the Outside Director dies within three (3) months after the termination of Continuous Status as a Director, the Option may be exercised at any time within six (6) months following the date of death by the Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent the Outside Director was entitled to exercise the Option at the date of termination.

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).


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. 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 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.
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 an Optionee who is both an Employee and a Director, Continuous Status as a Director shall not be considered interrupted solely because such Optionee terminates service as an Employee so long as such Optionee continues to be a Director without interruption.
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. DATE OF GRANT: June 29, 1995 STAT Healthcare, Inc. a Delaware Corporation By: __________________________ Dated: _________________ _______________________________ Russell D. Schneider, Optionee
Continuous Status as a Director means the absence of any interruption or termination of service as a Director. "Director" shall mean a member of the Board.