Examples of Nortel Limited in a sentence
Nothing herein shall provide any Participant with an entitlement or right to be elected or appointed a director of Nortel Limited.
To the full extent permitted by law, Nortel Limited shall indemnify and save harmless each person made, or threatened to be made, a party to any action or proceeding by reason of the fact that such person is or was a member of the Committee or is or was a member of the Board and, as such, is or was required or entitled to take action pursuant to the terms of the Plan.
Each Participant shall comply with all such laws, regulations, rules, orders and requirements, and shall furnish Nortel Limited with any and all information and undertakings as may be required to ensure compliance therewith.
Except as Participants may otherwise be advised by prior written notice of at least thirty (30) days, all costs of the Plan, including any administration fees and reasonable brokerage fees related to the purchase of Common Shares pursuant to Section 8, shall be paid by Nortel Limited.
Neither Nortel Corporation nor Nortel Limited shall in any event be obligated to the Participants to take any action to comply with any such laws, regulations, rules, orders or requirements.
Neither Nortel Limited nor Nortel Corporation shall be required to cause to be delivered Common Shares or certificates evidencing Common Shares pursuant to the Plan unless and until such delivery is in compliance with all applicable laws, regulations, rules, orders of governmental or regulatory authorities and the requirements of any stock exchange upon which shares of Nortel Corporation are listed or traded.
The purpose of the Plan is to assist Nortel Limited in attracting and retaining individuals with experience and ability to serve as members of the Board and to promote a greater alignment of interests between Eligible Directors and the shareholders of Nortel Corporation.
Nortel Limited shall maintain or cause to be maintained in its records an account for each Participant recording at all times the number of Share Units credited to the Participant.
For greater certainty, Nortel Limited shall not pay or be responsible for brokerage or other fees incurred by Participants in respect of the disposition of any Common Shares.
A written notification of the balance in the account maintained for each Participant shall be mailed by Nortel Limited or by an Administrator on behalf of Nortel Limited to each Participant at least annually.