Transferred Director definition

Transferred Director means each SpinCo non-employee director as of the Effective Time who served on the Parent Board immediately prior to the Effective Time.

Transferred Director shall have the meaning set forth in Section 4.05(a).

Transferred Director has the meaning set forth in the Employee Matters Agreement.

Examples of Transferred Director in a sentence

• UTC shall, or shall cause a member of the UTC Group to, assume and retain all Liabilities under the UTC DSU Plan for the benefits of UTC Non-Employee Directors but not with respect to the benefits of any director who ceases as of the Effective Time to be a director of UTC and becomes a Carrier Transferred Director or Otis Transferred Director.

• With respect to any Transferred Director, SpinCo shall be responsible for the payment of any cash fees for service on the SpinCo Board that are earned at any time after the Effective Time, and Parent shall not have any responsibility for any such payments.

• All deferral and distribution elections and designations of Beneficiary made under the UTC DSU Plan by an Otis Transferred Director or Beneficiary of an Otis Transferred Director, and, in effect, immediately prior to the Effective Date, shall continue to apply and shall be administered under this Plan, until such election or designation expires or is otherwise changed or revoked in accordance with the terms of the Plan.

• Any outstanding New Director Restricted Stock Unit Awards credited for the benefit of an Otis Transferred Director, immediately prior to the effective time of the Spin-off will be maintained under this Plan, as of the effective time as a Transferred New Director Restricted Stock Unit Award under a separate Account for such Otis Transferred Director as provided in Section 4.03.

• Any outstanding New Director Restricted Stock Unit Award credited under the UTC DSU Plan for the benefit of an Otis Transferred Director, immediately prior to the effective time of the Spin-off will be maintained under this Plan, as of the effective time of the Spin-off as a Transferred New Director Restricted Stock Unit Award under a separate Account for such Otis Transferred Director.

More Definitions of Transferred Director

Transferred Director means each SpinCo nonemployee director as of the Effective Time who served on the Parent Board immediately prior to the Effective Time.

Transferred Director means each Varex non-employee director as of the Effective Time who served as a non-employee director on the Parent Board immediately prior to the Effective Time.

Transferred Director means any nVent non-employee director as of the Effective Time who served on the Pentair Board immediately prior to the Effective Time.

Transferred Director means any Adient non-employee director as of the Effective Time who served on the Xxxxxxx Controls Board immediately prior to the Effective Time.

Transferred Director means each Enhabit nonemployee director as of immediately after the Effective Time who last served on the Encompass Board on May 5, 2022.

Transferred Director means a Parent Nonemployee Director who becomes a CoalCo Nonemployee Director immediately prior to the Effective Time.

Transferred Director means any Veoneer non-employee director as of the Effective Time who served on the Autoliv Board immediately prior to the Effective Time.