Board Membership definition
Examples of Board Membership in a sentence
Screening Board Membership: The Sick Leave Screening Board shall review all applications for benefits from the sick leave bank.
In the event that the Grantee incurs a Termination of Board Membership for any other reason, all unvested Deferred Stock Units granted under this Agreement and held by the Grantee as of such termination date shall immediately expire and be forfeited without further consideration to the Grantee.
Before accepting any paid or honorary employment, notably Board Membership of any governing body, Board Member must obtain the written consent of the Supervisory Board, which consent may be withdrawn at any time.
Subject to the Grantee’s continued Board Membership through the applicable vesting date, the Deferred Stock Unit Award shall become fully vested on the date that is twelve (12) months and thirty (30) days following the Date of Grant; provided, however, that no portion of the Deferred Stock Unit Award shall become vested prior to the date upon which the Grantee has completed two years of continuous Board Membership following the Grantee’s election to the Board.
Prior to such appointment, such replacement candidate shall satisfy the Board Membership Criteria (as defined in the Company’s Nominating & Corporate Governance Committee Charter) and complete the process set forth in the Company’s Nominating & Corporate Governance Committee Charter and Corporate Governance Principles, and shall execute and deliver to the Company a counterpart to this Agreement agreeing to be bound by the terms hereof, including without limitation, Sections 6, 10, and 19 hereof.