Nonemployee Director definition

Nonemployee Director means a Director who is not an Employee.
Nonemployee Director means a director of the Company who is a "nonemployee director" within the meaning of Rule 16b-3 promulgated under the Exchange Act.
Nonemployee Director means a member of the Board of Directors who is not an employee of the Company.

Examples of Nonemployee Director in a sentence

Nonemployee Director Compensation Plan (the “Director Plan”), nonmanagement Directors may defer payment of some or all of their annual retainer fees, meeting fees and dividend equivalents paid on stock units to an unfunded stock unit or unfunded interest account until after they have resigned or retired (as defined in the Director Plan) from the Board.

In any such case, the Option may be exercised only as to the Shares as to which the Option had become exercisable on or before the date that the Nonemployee Director ceased to be a Director.

If the Nonemployee Director ceases to be a Director for any reason, the Option may be exercised by the Nonemployee Director at any time following the date of such cessation provided that such exercise must occur prior to the Option expiration date.

Upon the initial election or appointment of a Nonemployee Director to the Company’s Board, or upon the Effective Date, whichever is later, the Nonemployee Director shall be granted a Non-Statutory Option to purchase 5,000 Shares of Stock (subject to adjustment pursuant to Section 4 hereof), which option shall become exercisable at the rate of 2,500 Shares of Stock on each of the first two anniversaries of the initial date of grant.

Coincident with or following designation for participation in the Plan, a Participant (other than a Nonemployee Director) may be granted Performance Shares or Performance Units.


More Definitions of Nonemployee Director

Nonemployee Director means a Director who is an employee of neither the Company nor of any Affiliate.
Nonemployee Director means each person who is, or is elected to be, a member of the Board and who is not an employee of the Company or any Subsidiary.
Nonemployee Director means a member of the Board who is not an Employee.
Nonemployee Director means an individual who is a member of the Board and who is not an employee of the Company or any Subsidiary.
Nonemployee Director means a Director who is not an employee of the Company or any Subsidiary.
Nonemployee Director means a Director who is not employed by the Company or an Affiliate.
Nonemployee Director means any person who is a member of the Board but is not an employee of the Company or any Affiliate of the Company and has not been an employee of the Company or any Affiliate of the Company at any time during the preceding twelve months. Service as a director does not in itself constitute employment for purposes of this definition.