Examples of Basic Retainer in a sentence
In the election form, the Eligible Director, (x) if he or she was an Eligible Director on the date of adoption of the Plan, shall specify that 0%, 50%, or 100% of such Eligible Director's Basic Retainer shall be deferred, or (y) if he or she was first elected as an Eligible Director after the date of adoption of the Plan shall specify that 50% or 100% of such Eligible Director's Basic Retainer shall be deferred.
If an Eligible Director shall fail or omit to file an election form within the period specified in this Section 3(b), he/she shall thereby be deemed to have elected that (i) 50% of his/her Basic Retainer shall be deferred and (ii) paid in a single lump sum payment upon his/her Separation from Service.
Each Eligible Director who has achieved the Share Ownership Guidelines shall be paid his or her Annual Basic Retainer Fee entirely in cash, unless such Eligible Director shall have elected to receive his or her Annual Basic Retainer Fee entirely in the form of Share Units or in a combination of cash and Share Units.
In the election form, the Eligible Director, shall specify that 0%, 50%, or 100% of such Eligible Director’s Basic Retainer shall be deferred.
The remainder of the Annual Basic Retainer Fee shall be paid entirely in cash, unless such Eligible Director shall have elected to receive the remainder of his or her Annual Basic Retainer Fee entirely in the form of Share Units or in a combination of cash and Share Units.
Each Director who is an Eligible Director on the effective date of the Plan, may, within 30 days of such effective date, and each Eligible Director who shall be first elected as an Eligible Director after the effective date of the Plan, shall within 30 days following such election, elect to have payment of some part or all of his/her Basic Retainer which is earned subsequent to the Eligible Director's deferral election, deferred and to have payment of such portion made under the terms of this Plan.
The Committee may, at its discretion, allow an Eligible Director to receive his or her fees, other than Annual Basic Retainer Fees and Additional Retainer Fees, otherwise payable in cash, in the form of Share Units.
If an Eligible Director shall fail or omit to file an election form within the period specified in Section 3(a),he/she shall thereby be deemed to have elected that 50% of his/her Basic Retainer shall be deferred.
If an Eligible Director shall fail or omit to file an election form within the period specified in Section 3(a), he/she shall thereby elect that 50% of his/her Basic Retainer shall be deferred.
Definition of Terms: Annual Basic Retainer is the annual basic amount paid to all non-employee Directors (on 1/1/06 an amount equal to $15,000).