Examples of Annual Chair Retainer in a sentence
To be effective with respect to all or any part of any annual payment on account of the Annual Board Retainer or the Annual Chair Retainer, a Notice of Election must be filed at least 21 days prior to the annual payment date in question.
Each Director shall have, subject to the conditions stated herein, the right to elect in accordance with this Section 4.2, to be credited with Deferred Share Units in lieu of all or any part of the Annual Board Retainer and all or any part of any Annual Chair Retainer otherwise payable to such Director in cash (commencing with amounts payable after the effective date of the Plan).
Common Stock for the Annual Board Retainer and Annual Chair Retainer is awarded in a calendar quarter to Directors who are in active service at any time during that quarter.The number of shares of Common Stock awarded is determined by dividing the dollar amount of the applicable award by the closing price of Common Stock, as reported on the NYSE or successor or alternate means of publishing stock price, on the last business day of the second month of the quarter.Fractional shares are not awarded.
A portion of the Annual Chair Retainer is paid in cash ($320,000) and the balance ($230,000) is paid as an award of Common Stock.