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

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

• 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.

• 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.

• An Existing Director who elected to participate in the Program shall have no further rights under the Director Pension Plan.

• The Existing Director Options and the New Director Options (collectively, the "Options") shall be non-qualified options not intended to meet the requirements of Section 422 of the Internal Revenue Code of 1986, as amended (the "Code").

• Existing Director Grant and Election Grant: In the event any optionee’s service as a member of the Board terminates as of an Annual Meeting Date occurring within thirty (30) days prior to the date any option installment would otherwise have vested had such optionee continued to serve as a member of the Board, then notwithstanding the foregoing, such installment shall be vested and exercisable as of such Annual Meeting Date.

More Definitions of Existing Director

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 the Debtor.

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

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

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

Existing Director has the meaning set forth in Section 2.1.1.