Examples of Board Year in a sentence
At the end of each Board Year, and at such other date or dates during a year as the Company may determine, the Company shall issue or shall cause to be issued to each Participant a statement setting forth the balance of the Participant’s Account under this Plan.
Such election is (i) irrevocable as to any Board Year which has commenced while such election is in effect, and (ii) may be changed only as to Board Years commencing after the date of such change.
The aggregate fair market value of all compensation granted for Board service rendered during any Board Year to any Non-Employee Director Participant under the Plan and any other compensatory plan or arrangement of the Company shall not exceed $800,000 during any Board Year; provided, however, that compensation paid to any Non-Employee Director Participant designated as chair of the Board shall not be subject to the foregoing limitation, but instead is subject to the limits set forth in Section 5(b).
Deferred compensation elections thereafter will be accepted once per year during the 30 days prior to the Annual Board Meeting and will be effective for compensation paid with respect to the following Board Year.
For purposes of annual retainers, annual stock option grants, and deferral elections, a "Board Year" begins with the Annual Meeting of the Board held each year immediately following the Annual Meeting of Stockholders (generally during the month of May), and ends on the day before the next Annual Meeting of the Board.