SAC Representative definition

SAC Representative means (i) Stan Little until his termination of employment with the Company or one of its Affiliates, and other than in respect of administrative decisions affecting his participation in this Plan, and (ii) in the event of Stan Little’s (or any subsequent SAC Representative’s) termination of employment with the Company or an Affiliate (and in respect of administrative decisions affecting his participation in this Plan), the next largest holder of Participation Units then outstanding who is an employee of the Company or an Affiliate.
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Examples of SAC Representative in a sentence

  • The Authority and Virgin will ensure that the SAC Representative of each: (a) is fully acquainted with the Spaceport; and (b) provides the information and services necessary to fulfill the obligations of the Authority and Virgin under this Lease.

  • SM&A and the SAC Representative agree to act in good faith to select mutually an arbitrator.

  • In such event SM&A and the SAC Representative shall by agreement appoint a successor escrow agent within said 30 days; if SM&A and the SAC Representative do not agree upon the selection of a successor escrow agent within such period, the Escrow Agent may appoint a successor escrow agent.

  • If no agreement is reached regarding selection of the arbitrator within 30 days after written request from either party to the other, SM&A or the SAC Representative may submit the matter in dispute to JAMS, to be settled by arbitration in Orange County, California in accordance with the commercial arbitration rules of such association.

  • To the extent the SAC Representative shall incur out-of-pocket costs (including the reasonable fees and disbursements of counsel, accountants and advisors in connection with the arbitration of a disputed claim or otherwise) in the performance of his duties hereunder, the SAC Representative shall be authorized to direct the Escrow Agent to reimburse the SAC Representative for such reasonable expenses out of the Escrow Shares/Escrow Funds in an amount not to exceed $100,000.

  • Such successor SAC Representative shall be appointed by an instrument in writing signed by the requisite Shareholders, and such appointment shall become effective as to any such successor SAC Representative when such instrument shall have been delivered to such person, and that person has consented to such appointment.

  • Unless and until the Escrow Shares are returned to SM&A or delivered to the Shareholders pursuant to the terms of this Agreement, the Escrow Agent shall vote the Escrow Shares in accordance with the written instructions of the SAC Representative.

  • The SAC Representative shall not be liable to the parties hereto or any Stockholder for any action taken or omitted by the SAC Representative in good faith, or for any mistake of fact or law, unless caused by his own gross negligence or willful misconduct.

  • Each member may change its SAC Representative by giving no fewer than five (5) Days’ prior notice of such change to the other in accordance with the provisions of the Development Agreement.

  • The SAC Representative shall keep adequate and reasonable books and records of his expenses.