Year of Board Service definition

Year of Board Service means any 12 consecutive month period during which an Eligible Director serves as a member of the Board. In the event an Eligible Director is reinstated as a member of the Board after he ceases to serve as a member of the Board, a new Year of Board Service shall commence on the date he recommences service as a member of the Board.
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Year of Board Service means each Board Tenure Year during which a Director has served on the Board, including, for Directors on the Board as of May 1, 1997, all Years of Board Service prior to the adoption of the Plan.
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Year of Board Service means each twelve (12) month period for which an Outside Director serves as a member of the Board, regardless of the number of Board meetings attended by such Outside Director in any such period. A Year of Board Service shall initially commence on the date on which an Outside Director is appointed or elected to the Board and shall thereafter commence on each successive yearly anniversary of such date. An Outside Director shall be deemed to have served as a member of the Board for a full month if he serves as a member of the Board for any portion of such month. Non-consecutive periods of service as an Outside Director shall be aggregated for purposes of determining an Eligible Director's total Years of Board Service. For purposes of eligibility under Article II and benefits under Article III, service as an Outside Director of the Board prior to the Effective Date shall be included in determining his Years of Board Service. If there has been a Change in Control, the Outside Directors serving on the Board at that time will receive credit on that date for additional Years of Board Service through and including the date on which the Outside Directors' current term of office would have otherwise expired.
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Examples of Year of Board Service in a sentence

  • A Year of Board Service shall commence on the date on which an Outside Director is appointed or elected to the Board of Directors and shall thereafter commence on each successive anniversary of such date.

  • Notwithstanding the foregoing, an Outside Director whose Years of Board Service as of his termination of service includes a period of service which is 6 less than twelve (l2) months in duration, shall receive credit for a full Year of Board Service in respect of such period.

  • Pro-rated credit shall be provided for any partial Year of Board Service.

Related to Year of Board Service

  • Year of Vesting Service means a vesting computation period during which you complete 1,000 hours of service during the Plan Year.

  • Year of Eligibility Service means where an Employer designates a one or two 12-consecutive-month eligibility waiting period, an Employee must complete at least 1,000 Hours of Employment during each 12-consecutive-month period (measured from his date of Employment and then as of the first day of each Plan Year commencing after such date of Employment); provided, however, if an Employee is credited with 1,000 Hours of Employment in both the initial eligibility computation period and the first Plan Year which commences prior to the first anniversary of the Employee's employment commencement date, the Employee will be credited, for eligibility purposes, with two Years of Eligibility Service. Where an Employer designates an eligibility waiting period of less than 12 months, an Employee must, for purposes of eligibility, complete a required number of hours (measured from his date of Employment and each anniversary thereafter) which is arrived at by multiplying the number of months in the eligibility waiting period requirement by 83 1/3; provided, however, if an Employee completes at least 1,000 Hours of Employment within the 12 month period commencing on his Employment commencement date or during any Plan Year commencing after such Employment commencement date, such Employee will be treated as satisfying the eligibility service requirements.

  • Year of Service means the computation period of twelve (12) consecutive months, herein set forth, during which an Employee has at least 1000 Hours of Service.

  • Year of the Term as used herein shall mean each twelve-month period commencing on (START DATE).

  • Annual Retainer for a particular Director means the retainer (including any additional amounts payable for serving as lead Director or on any committee of the Board), payable to that Director for serving as a Director for the relevant Remuneration Period, as determined by the Board;

  • Service Year means fiscal year, except that:

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Annual Accounting Period or “Financial Year” means the period commence on 1st July and shall end on 30th June of the succeeding calendar year.

  • Year of Employment means a period of service of 12 months.

  • Plan Year(s means the approximate twelve-month periods between annual meetings of the shareholders of the Company, which, for purposes of the Plan, are the periods for which annual retainers are earned.

  • Annual Renewal Date means the date in any calendar year, subsequent to the year in which the Policy comes into effect, corresponding numerically with the Policy Commencement date in that subsequent year.

  • completed year of service means continuous service for one year;

  • Plan Period means the period designated in Section 4.

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Plan Year means the calendar year.

  • Annual Enrollment Period or "Enrollment Period" means the period before each policy anniversary so designated by the Sponsor and Lincoln during which you may enroll for coverage under this policy.

  • Payroll Period means "payroll period" as defined in Section 3401(b) of the Internal Revenue Code;

  • Performance Year means the calendar year prior to the year in which an Annual Award is made by the Committee.

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).

  • Employment Year means each twelve-month period, or part thereof, during which Employee is employed hereunder, commencing on the Commencement Date and on the same day of the subsequent calendar year and each consecutive 12 month period thereafter.

  • Program Year means the annual period beginning January 1 and ending December 31.

  • Award Year means a fiscal year beginning January 1 and ending December 31 with respect to which an Award may be granted.

  • Planning Period Balance means the entire period of time remaining in the Planning Period following the month that a monthly auction is conducted.

  • Planning Period means the 12 moths beginning June 1 and extending through May 31 of the following year, or such other period approved by the Members Committee.

  • Vacation Year means the twelve (12) month period commencing on the first (1st) day of April in each calendar year and concluding on the thirty-first (31st) day of March of the following calendar year.

  • Annual Period means each twelve (12) month period commencing on the Effective Date and, thereafter, on each anniversary of the Effective Date.