Eligible Board Member definition

Eligible Board Member means an Independent Board Member who at the time of Retirement (as hereinafter defined) has served as an Independent Board Member of any Adopting Fund for at least five years, or such lesser period as may be determined by the Board.

Eligible Board Member means a member of the Board (other than a member who is also an Eligible Employee) who meets the requirements set forth in Section 3 of the Plan.

Eligible Board Member means a member of the Board of Directors of the Company who is not an employee of the Company.

Examples of Eligible Board Member in a sentence

• In the event of the death of an Eligible Board Member who has chosen the Alternate Benefit prior to such Eligible Board Member's Retirement, his or her spouse shall be entitled to a retirement benefit, commencing upon such death, which shall be the Actuarial Equivalent of the benefit such spouse would have received had such Eligible Board Member died on his or her Eligible Retirement Date.

• Payment of the Early Benefit shall commence on a date fixed by the Board in its sole discretion as such Eligible Board Member's Eligible Retirement Date and shall be payable through the remainder of such Eligible Board Member's life, or, if the Alternate Benefit had been elected, the later of the lives of such Eligible Board Member and spouse.

• Good cause for these purposes may include (but is not limited to) the permanent disability of the Eligible Board Member.

• The Benefit to each Eligible Board Member or his or her spouse will, except as provided in Section 3(c), 3(d) or 3(e) hereof, commence on such Eligible Board Member's Eligible Retirement Date and will be paid each year in quarterly installments that are as nearly equal as possible on the first day of each calendar quarter.

• Each Eligible Board Member will be eligible to receive a Benefit from each Adopting Fund commencing on such Eligible Board Member's Eligible Retirement Date.

More Definitions of Eligible Board Member

Eligible Board Member means any individual who is a member of any Board and who is entitled to receive compensation for services rendered in such capacity.

Eligible Board Member means any individual who is a member of the Board of Directors and who is entitled to receive compensation for services rendered in such capacity other than an individual who is also an employee of the Corporation, its parent, any subsidiary or any affiliate of the Corporation.

Eligible Board Member means a Board Member who retires from active service as such and meets both of the following conditions: (i) retirement takes place on reaching age 72 or after completing fifteen years of such service and (ii) at no time has he or she been an officer or an employee of U.S. Trust Corporation, the Corporation, or any of their Affiliated Companies.

Eligible Board Member means a Board Member who would be entitled to vote on the matter at a meeting of the Board (but excluding in relation to the authorisation of a Conflict pursuant to this article 13, any Board Member whose vote is not to be counted in respect of the particular matter);

Eligible Board Member means an individual serving as a member of the Board who is not an employee of the Company Group.

Eligible Board Member means a Member who is not:

Eligible Board Member means a Board Member who would be entitled to vote on the matter at a meeting of Board Members (but excluding in relation to the authorisation of a Conflict pursuant to paragraph 6 of Schedule 4 (Governance), any Board Member whose vote is not to be counted in respect of the particular matter);