Existing Director definition

Existing Director means: any member of the Board of Directors of Norstan as of the date of this Agreement or the Merger Agreement.

Existing Director means a person who is a director of the company immediately before that meeting.

Existing Director means any individual serving, as of the Petition Date (or at any subsequent date through the Effective Date), as a director of any of the Debtors.

Examples of Existing Director in a sentence

• Employee further covenants and agrees, for the Relevant Period, not to become employed by any Existing Director (as defined below) or any business enterprise, other than Norstan, with which any Existing Director may then be employed, associated, affiliated or connected (including as a director, member, partner, officer, employee or an owner of more than 5% of the outstanding equity in such business enterprise).

• Each of the Company and each member of the Shareholder Group agrees not to, and to cause its Related Parties not to, Disparage Personally (as defined below), or knowingly encourage or knowingly induce others to Disparage Personally, any Existing Director.

• No individual shall be considered an Existing Director if such individual initially assumed office as a result of either an actual or threatened election contest subject to Rule 14a-11 under the Securities Exchange Act of 1934 or other actual or threatened solicitation of proxies by or on behalf of anyone other than the Board, including by reason of any agreement intended to avoid or settle any election proxy contest.

• The purchase price of the stock covered by an option granted pursuant to this Plan shall be 100% of the fair market value of such shares on the day the option is granted; provided, however, that the purchase price of the stock covered by an Existing Director Grant shall be equal to 100% of the price per share at which the Common Stock is initially sold to the public in the initial public offering of the Common Stock without regard to any applicable underwriting discounts or commissions.

• For purposes of the foregoing, a new director will be considered an Existing Director if the election, or nomination for election by the Company’s stockholders, of such new director was approved by a vote of a majority of the Existing Directors.

More Definitions of Existing Director

Existing Director means, with respect to a Participation Year, a Director who first became eligible to participate in this Plan in a prior Year.

Existing Director has the meaning set forth in Section 2.1.1.

Existing Director means a member or former member of the Board who was actively serving on the Board as of January 1, 2011.

Existing Director means any individual serving, as of the Petition Date (or at any subsequent date through the Effective Date), as a director of the Debtor.

Existing Director means each member of the Board on the date of adoption of this Plan other than Timothy J. McIntyre.

Existing Director means each member of the Board on the date of adoption of this Plan other than any member of the Board who is also an executive officer of the Company.

Existing Director shall have the definition assigned thereto in Section 4.04.