Retired Director definition

Retired Director means a participant in the Prior Plan who does not hold office on the Effective Date.

Retired Director means any Director who other than by reason of a Takeover or Merger or insolvency of the Company voluntarily retires during the Period of Insurance.

Retired Director means any Insured Person member of the Board of Directors, or other governing board, of an Insured Organization who resigned such position prior to the end of the Policy Period.

Examples of Retired Director in a sentence

• Except as provided in the Retired Director Compensation Program, Directors are required to retire from the Xxxxx Board of Directors at age 76 provided, however, that any director, who attains or has attained the age of 76 during his term as director, may delay retirement until completion of his or her term.

• In order to take advantage of the expertise and knowledge of retiring directors and in order to attract outstanding new directors for the Company, the board has instituted the Retired Director Compensation Program (“Program”).

• Retired Director Compensation Program Directors who have served on the Xxxxx Board of Directors for several years bring unique knowledge and experience to Xxxxx (“the Company’).

• As compensation for the services to be rendered by the Retired Director, the Company shall pay the Retired Director compensation at the rate of $7,200.00 per year for each year this agreement is in effect, such compensation to be paid on a monthly basis on the first day of each month this agreement is in effect.

• The Corporation shall not be obligated to reserve or otherwise set aside funds for the payment of retirement benefits under this policy and the rights of a Retired Director shall be only those with respect to an unsecured claim against the general assets of the Corporation.

More Definitions of Retired Director

Retired Director or "Director's Retirement" means the cessation of a Director's services on the Board on or after age 65 with ten (10) years of service, but no later than age 72 if the Director commenced service as a Director after the Company's 1993 fiscal year.

Retired Director means the members or the Board listed as retired directors on Schedule A attached.

Retired Director means a Director who (i) has terminated service on the Board of Directors (for any reason other than Removal For Cause) and (ii) has attained the eligibility requirements set forth in Section III of the Plan.

Retired Director or “Director’s Retirement” means the cessation of a Director’s services on the Board at or after age 65 with ten (10) years of service, but no later than age 72 if the Director commenced service as a Director after the Company’s 1993 fiscal year.

Retired Director means any Director who other than by reason of a Takeover or Merger or insolvency of the

Retired Director means a director or officer who voluntarily ceased to hold such office prior to the Expiration Date stated in the SCHEDULE other than a disqualified director or where directly related to a Change in Control.

Retired Director or “Retired Officer” means any Director or Officer (other than one who has been disqualified from holding office as a company director) voluntarily retires or ceases to act in the capacity of an Insured Person during the Period of Insurance.