Employee Directors immediate family" means any child, stepchild, grandchild, spouse, son-in-law or daughter-in-law and shall include adoptive relationships; provided, however, that if the Company adopts a different definition of "immediate family" (or similar term) in connection with the transferability of employee stock options awarded to employees of the Company, such definition shall apply, without further action of the Board, to the Plan or this Option Agreement. The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of the Non-Employee Director.

Employee Directors pursuant to Section 6.2 hereof, disability or retirement, and

Examples of Employee Directors in a sentence

At such time as the Common Stock is publicly traded, in the discretion of the Board, a Committee may consist solely of two or more Outside Directors, in accordance with Section 162(m) of the Code, and/or solely of two or more Non- Employee Directors, in accordance with Rule 16b-3.
Incentive Stock Options may be granted to Employees or Employee Directors of the Company or a “parent” or “subsidiary” corporation of the Company as those terms are used in Section 424 of the Code.
Awards other than Incentive Stock Options may be granted to both Employees and Employee Directors.
Optionees shall be those persons selected by the Committee from the class of all regular Employees of the Company or its Subsidiaries, including Employee Directors and Officers who are regular or former regular employees of the Company, Directors who are not regular employees of the Company, as well as consultants to the Company.
Directors shall receive compensation for their services as shall be determined by a majority of the Board of Directors, provided that Directors who are serving the Corporation as officers or employees and who receive compensation for their services as such (“Employee Directors”) shall not receive any salary or other compensation for their services as Directors of the Corporation; provided, however, that such Employee Directors may be paid their reasonable expenses incurred as a director.

More Definitions of Employee Directors

Employee Directors means at any time, as a group, the persons then serving as members of the Board of Directors by reason of being Employee Officials.

Employee Directors means Lorin D. Smith and Scott G. Erchul.

Employee Directors means those Directors who are not "Outside Directors."

Employee Directors retirement means retirement from service on the Board of Directors of the Corporation or the Association or any successor thereto (including service as a director emeritus) after attaining the age of 70.

Employee Directors means at any time, as a group, the persons then serving as Directors by reason of being Employee Officials.

Employee Directors as defined in Section 2.17.

Employee Directors as defined in Rule 16b-3(b)(3)(i) under the 1934 Act and "outside directors" as defined in Section 162(m) of the Code and the regulations promulgated thereunder. The Board may remove or add members of the Committee. If the Board does not appoint a Committee, any reference in the Plan or in any stock option agreements under the Plan shall mean the Board.