Director Account definition

Director Account means the bookkeeping record established for each Non-Employee Director. A Director Account is established only for purposes of measuring the value of the Company’s obligation to a Non-Employee Director in respect of Director Stock Units and earnings thereon and not to segregate assets or to identify assets that may be used to settle Director Stock Units.
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Director Account means the bookkeeping record established for each Independent Director. A Director Account is established only for purposes of measuring the value of the Company's obligation to an Independent Director in respect of Director Stock Units and not to segregate assets or to identify assets that may be used to settle Director Stock Units.
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Examples of Director Account in a sentence

  • The crediting of Director Stock Units to a Director Account shall not confer on the relevant Non-Employee Director any rights as a stockholder of the Company.

  • As of any date as of which a Non-Employee Director is granted Director Stock Units, the Director Account of such Non-Employee Director will be credited with the number of Director Stock Units so granted.

  • No funds shall be set aside or earmarked for any Director Account, which shall be purely a bookkeeping device.

  • If no election is made, payment will commence on the date that is six (6) months following the date of the Director’s “separation from service”.] ___ I elect to receive payment of my Director Account in the form of: _____ a lump sum payment.

  • As soon as practicable following the vesting of Director Stock Units as provided in 6(e) above, the number of Director Stock Units in the Director Account shall be settled by delivery to the respective Independent Director of the number of Shares corresponding to such Director Stock Units (as evidenced by the appropriate entry on the books of the Company, Trust or a duly authorized transfer agent thereof), provided that such number shall be rounded down to the nearest whole Share.

  • As of any date as of which an Independent Director is granted Director Stock Units, the Director Account of such Independent Director will be credited with the number of Director Stock Units so granted.

  • The crediting of Director Stock Units to a Director Account shall not confer on the relevant Independent Director any rights as an owner of Shares.

  • Director Stock Units (including interests in a Director Account) may not be transferred, pledged, assigned or otherwise disposed of except by will or by the laws of descent and distribution or pursuant to a domestic relations order.

  • Xxxxxxx President & Chief Executive Officer ____________________________________ _____________, Director Date of Grant: Number of DSUs: ____ Payment Date(s): ___ I elect to commence to receive payment of my Director Account on the ___________ anniversary of my “separation from service” (within the meaning of Treas.

  • Lxxxxxx Title:Managing Director/ Account Manager SUMITOMO BANK, LIMITED by /s/ J.

Related to Director Account

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Regular account means the account established for each active and inactive member un-

  • Share Account means the brokerage account established by the Agent for each Participant to which shares of Common Stock purchased under the Plan are credited in accordance with Section 9. The Share Account will be established pursuant to a separate agreement between each Participant and the Agent.

  • Deferred Stock Account means a bookkeeping account maintained by the Company for a Participant representing the Participant's interest in the shares credited to such Deferred Stock Account pursuant to Paragraph 7 hereof.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Stock Account means the account maintained on behalf of the Participant by the Custodian for the purpose of holding Stock acquired under the Plan.

  • Retention Account means, an interest bearing USD account in the name of the Borrowers opened or (as the context may require) to be opened by the Borrowers with the Bank and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Retention Account for the purposes of this Agreement;

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Unit Account means a notional account opened and managed by Us for You, in which the Units are allocated following the receipt of the Premium from You and in which the Units are cancelled by Us for the purpose of paying the benefits or for recovering the applicable charges;

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Employee Account means any brokerage account or unit investment trust account in which the Van Kampen Employee has any direct or indirect beneficial ownership.

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Participating Account a separate account investing all or a portion of its assets in the Trust, including the Account.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Discretionary Account means a Personal Account in which you have completely turned over decision-making authority to a professional money manager (who is not a Family Member or not otherwise covered by this Code) and you have no direct or indirect influence or control over the account. (Such Discretionary Accounts are often referred to as “professionally managed,” “controlled” or “managed” accounts.)

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Stock Unit Account means the bookkeeping account established by the Company pursuant to Section 6.4.