Examples of PSC Board in a sentence
The PSC Board may, but shall not be required to, authorize the establishment of a trust by the Employer to serve as the funding vehicle for the benefits described in Article 3 hereof.
The Company shall indemnify and hold harmless each member of the Committee from any and all claims, losses, damages, expenses (including counsel fees) and liability (including any amounts paid in settlement of any claim or any other matter with the consent of the PSC Board) arising from any act or omission of such member, except when the same is due to gross negligence or willful misconduct.
Subject to receipt by PSC of the requisite approval of this Agreement by the holders of more than two-thirds of the outstanding shares of PSC Common Stock entitled to vote thereon (which is the only approval of PSC stockholders required thereon), the execution and delivery of this Agreement and the transactions contemplated hereby have been authorized by all necessary corporate action of PSC and the PSC Board and PBC and the board of directors of PBC.
Members of the Committee shall serve without compensation for their services unless otherwise determined by the PSC Board.
Kollmorgen also announced that it was initiating a consent solicitation at which it sought to call a special meeting of the PSC shareholders, at which meeting Kollmorgen intended to ask PSC shareholders to remove the entire PSC Board and replace it with new directors nominated by Kollmorgen who were expected to take actions to consummate the proposed business combination.
On January 15, 1998, Kollmorgen subsequently distributed a proxy statement recommending dismissal of the PSC Board to be replaced by members who would agree to consummate the merger.
During this conversation, Hill stated that he had discussed Kollmorgen's proposal with the PSC Board and had concluded that a combination of the two companies would not be in the best interest of PSC.