Examples of Annual Board Retainer in a sentence
In the absence of a designation to the contrary (including delivery of an Election Notice by a DSU Participant requesting that a greater or lesser percentage of his or her Annual Board Retainer be payable in the form of Deferred Share Units relative to the percentage previously elected by such DSU Participant), the DSU Participant’s Election Notice shall remain in effect unless otherwise terminated.
The amount of the Annual Board Retainer Fee shall be as determined from time to time in the sole discretion of the Board of Directors of the Company (the “Board”), with such amount currently set at Sixty-Five Thousand Dollars ($65,000) per year.
This amount is in addition to the Annual Board Retainer Fee set forth in Section 3.1.
Notwithstanding the foregoing, an Annual Board Retainer Equity award will vest in full in the event that the Company is subject to a Change in Control or in the event of the director’s death.
Each Annual Board Retainer Equity award will be granted on the date of the Company’s annual meeting of stockholders and will vest in full on the date of the next annual meeting of stockholders, provided that the director has served continuously as a member of the Board during the vesting period.