Definitions Clause Example with 5 Variations from Business Contracts
This page contains Definitions clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Definitions. As used herein, the following terms shall have the corresponding meanings: 2.1. "Committee" shall mean the Board of Directors of the Corporation, or a duly constituted committee of the Board consisting of three or more members, at least a majority of which shall be "Non-Employee Directors" as such term is used in Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). 2.2 "Common Stock" shall mean the common stock, par value $1.00 per share, of the Corp...oration. 2.3. "Date of Grant" shall mean the date of grant of a Stock Option granted hereunder as set forth in the Stock Option Agreement. In the event of a grant conditioned, among other things, upon stockholder ratification of this Plan, the date of such conditional grant shall be the Date of Grant for purposes of this Plan. 2.4. "Non-Employee Director" shall mean a person that is an elected or appointed member of the board of directors of a corporation, who is not a common-law employee of the corporation. The determination of whether or not a person is a Non-Employee of the Corporation with respect to the grant or exercise of a Stock Option shall be made in accordance with the rule of Income Tax Regulation Section 1.421-7(h) (or successor regulation). 2.5. "Fair Market Value" shall mean, with respect to the exercise of an option under the Plan, (a) if the Common Stock is listed on a national securities exchange or the NASDAQ Global Market, the closing price of the Common Stock for the business day immediately preceding the day of the Date of Grant, or (b) if the Common Stock is not then listed on an exchange, the average of the closing bid and asked prices per share for the Common Stock in the over-the-counter market as quoted on NASDAQ for the business day of the Date of Grant, or (c) if the Common Stock is not then listed on any exchange or quoted on NASDAQ, an amount determined in good faith by the Committee to be the fair market value of the Common Stock, after consideration of all relevant factors. 2.6 "Nonqualified Stock Option" shall mean a Stock Option which is not intended to qualify for tax treatment as an "incentive stock option" under Section 422 of the Code. 2.7. "Option Exercise Price" shall mean the price paid for Shares upon the exercise of a Stock Option granted hereunder. 2.8. "Optionee" shall mean any person entitled to exercise a Stock Option pursuant to the terms of the Plan. 1 2.9. "Stock Option" shall mean a stock option giving an Optionee the right to purchase shares of the Corporation's Common Stock. Stock Options granted under the Plan shall be Nonqualified Stock Options.View More
Variations of a "Definitions" Clause from Business Contracts
Definitions. As used herein, the following terms shall have the corresponding meanings: 2.1. "Committee" "Board of Directors" shall mean the Board of Directors of the Corporation, or a duly constituted committee Company. 2.2. "Charity" shall mean any organization that has been recognized by the Internal Revenue Service as qualifying under Section 501(c)(3) of the Code of 1986. 2.3. "Code" shall mean the U.S. Internal Revenue Code of 1986, as amended. 2.4 "Committee" shall mean the Board consisting of three D...irectors or more members, at least a majority the Executive Committee acting under authority delegated by the Board of which shall be "Non-Employee Directors" as such term is used in Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). 2.2 Directors. 2.5. "Common Stock" shall mean the common stock, par value $1.00 per share, of the Corporation. 2.3. Company. 2.6. "Continuous Service" shall mean, with respect to any Employee, the absence of any interruption or termination of service as an Employee. Such status shall not be considered interrupted in the case of (a) sick leave, (b), military leave, (c), except as otherwise provided in any leave policy adopted by the Company or one of its Subsidiaries from time to time, an approved leave of absence or (d) a transfer between locations and/or between the Company and its Subsidiaries. The determination whether an Employee remains in Continuous Service shall be made by the Committee, in its sole discretion. 2.7. "Date of Grant" shall mean the date of grant the approval by the Committee of a Stock Option granted hereunder as set forth in the Stock Option Agreement. applicable stock option award agreement. In the event of a grant conditioned, among other things, upon stockholder ratification of this Plan, the date of such conditional grant shall be the Date of Grant for purposes of this Plan. 2.4. "Non-Employee Director" 2.8. "Employee" shall mean a any person that is an elected employed by the Company or appointed member any Subsidiary of the board of directors of a corporation, who is not a common-law employee Company. 2.9. "Executive Committee" shall mean the Executive Committee of the corporation. The determination Board of whether or not a person is a Non-Employee of the Corporation with respect to the grant or exercise of a Stock Option shall be made in accordance with the rule of Income Tax Regulation Section 1.421-7(h) (or successor regulation). 2.5. Directors. 2.10. "Fair Market Value" shall mean, with respect to the exercise grant of an option a Stock Option under the Plan, (a) if the Common Stock is listed on a national securities exchange or the NASDAQ Global Market, NASDAQ, the closing price of the Common Stock for the business day immediately preceding the day of the Date of Grant, or (b) if the Common Stock is not then listed on an exchange, the average of the closing bid and asked prices per share for the Common Stock in the over-the-counter market as quoted on NASDAQ such market for the business day of the Date of Grant, Grant or (c) if the Common Stock is not then listed on any exchange or quoted on NASDAQ, an over-the-counter market, an amount determined in good faith by the Committee to be the fair market value of the Common Stock, after consideration of all relevant factors. 2.6 factors, on the Date of Grant. In all events, "Fair Market Value" shall be determined in good faith by the Committee in a manner that will 1 comply with the provisions of Section 409A of the Code and the regulations promulgated thereunder. 2.11. "NASDAQ" shall mean NASDAQ Global Market, Inc. 2.12. "Nonqualified Stock Option" shall mean a Stock Option which that is not intended to qualify for tax treatment as an "incentive stock option" under Section 422 of the Code. 2.7. 2.13. "Option Exercise Price" shall mean the price paid for Shares shares of Common Stock upon the exercise of a Stock Option granted hereunder. 2.8. 2.14. "Optionee" shall mean any person entitled to exercise a Stock Option pursuant to the terms of the Plan. 1 2.9. 2.15. "Stock Option" shall mean a stock option giving an Optionee the right to purchase shares of the Corporation's Company's Common Stock. Stock Options granted under the Plan shall be Nonqualified Stock Options. 2.16. "Subsidiary" shall mean a subsidiary company, whether now or hereafter existing, of the Company. View More
Definitions. As used herein, the following terms shall have the corresponding meanings: 2.1. "Committee" "Board of Directors" shall mean the Board of Directors of the Corporation, or a duly constituted committee Company. 2.2. "Charity" shall mean any organization that has been recognized by the Internal Revenue Service as qualifying under Section 501(c)(3) of the Code of 1986. 2.3. "Code" shall mean the U.S. Internal Revenue Code of 1986, as amended. 2.4 "Committee" shall mean the Board consisting of three D...irectors or more members, at least a majority the Executive Committee acting under authority delegated by the Board of which shall be "Non-Employee Directors" as such term is used in Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). 2.2 Directors. 2.5. "Common Stock" shall mean the common stock, par value $1.00 per share, of the Corporation. 2.3. Company. 2.6. "Continuous Service" shall mean, with respect to any Employee, the absence of any interruption or termination of service as an Employee. Such status shall not be considered interrupted in the case of (a) sick leave, (b), military leave, (c), except as otherwise provided in any leave policy adopted by the Company or one of its Subsidiaries from time to time, an approved leave of absence or (d) a transfer between locations and/or between the Company and its Subsidiaries. The determination whether an Employee remains in Continuous Service shall be made by the Committee, in its sole discretion. 2.7. "Date of Grant" shall mean the date of grant the approval by the Committee of a Stock Option granted hereunder as set forth in the Stock Option Agreement. applicable stock option award agreement. In the event of a grant conditioned, among other things, upon stockholder ratification of this Plan, the date of such conditional grant shall be the Date of Grant for purposes of this Plan. 2.4. "Non-Employee Director" 2.8. "Employee" shall mean a any person that is an elected employed by the Company or appointed member any Subsidiary of the board of directors of a corporation, who is not a common-law employee Company. 2.9. "Executive Committee" shall mean the Executive Committee of the corporation. The determination Board of whether or not a person is a Non-Employee of the Corporation with respect to the grant or exercise of a Stock Option shall be made in accordance with the rule of Income Tax Regulation Section 1.421-7(h) (or successor regulation). 2.5. Directors. 2.10. "Fair Market Value" shall mean, with respect to the exercise grant of an option a Stock Option under the Plan, (a) if the Common Stock is listed on a national securities exchange or the NASDAQ Global Market, NASDAQ, the closing price of the Common Stock for the business day immediately preceding the day of the Date of Grant, or (b) if the Common Stock is not then listed on an exchange, the average of the closing bid and asked prices per share for the Common Stock in the over-the-counter market as quoted on NASDAQ such market for the business day of the Date of Grant, Grant or (c) if the Common Stock is not then listed on any exchange or quoted on NASDAQ, an over-the-counter market, an amount determined in good faith by the Committee to be the fair market value of the Common Stock, after consideration of all relevant factors. 2.6 factors, on the Date of Grant. In all events, "Fair Market Value" shall be determined in good faith by the Committee in a manner that will comply with the provisions of Section 409A of the Code and the regulations promulgated thereunder. 1 2.11. "NASDAQ" shall mean NASDAQ Global Market, Inc. 2.12. "Nonqualified Stock Option" shall mean a Stock Option which that is not intended to qualify for tax treatment as an "incentive stock option" under Section 422 of the Code. 2.7. 2.13. "Option Exercise Price" shall mean the price paid for Shares shares of Common Stock upon the exercise of a Stock Option granted hereunder. 2.8. 2.14. "Optionee" shall mean any person entitled to exercise a Stock Option pursuant to the terms of the Plan. 1 2.9. 2.15. "Stock Option" shall mean a stock option giving an Optionee the right to purchase shares of the Corporation's Company's Common Stock. Stock Options granted under the Plan shall be Nonqualified Stock Options. 2.16. "Subsidiary" shall mean a subsidiary company, whether now or hereafter existing, of the Company. View More
Definitions. As used herein, the following terms shall have the corresponding meanings: 2.1. "Committee" shall mean the Board of Directors of the Corporation, or a duly constituted committee of the Board consisting of three or more members, at least a majority of which shall be "Non-Employee Directors" as such term is used in Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). 2.2 "Common 2.2"Common Stock" shall mean the common stock, par value $1.00 per share, ...of the Corporation. 2.3. "Date 2.3."Date of Grant" shall mean the date of grant the approval by the Committee of a Stock Option granted hereunder as set forth in the Stock Option Agreement. In the event of a grant conditioned, among other things, upon stockholder ratification of this Plan, the date of such conditional grant shall be the Date of Grant for purposes of this Plan. 2.4. "Non-Employee Director" Award Terms and Conditions. 2.4."Employee" shall mean a person that is an elected or appointed member of the board of directors of a corporation, who is not a any common-law employee of the corporation. The determination of whether or not a person is a Non-Employee of the Corporation with respect to the grant or exercise of a Stock Option shall be made in accordance with the rule of Income Tax Regulation Section 1.421-7(h) (or successor regulation). 2.5. "Fair Corporation. 2.5."Fair Market Value" shall mean, with respect to the exercise grant of an option under the Plan, (a) if the Common Stock is listed on a national securities exchange or the NASDAQ Global Market, the closing price of the Common Stock for the business day immediately preceding the day of the Date of Grant, or (b) if the Common Stock is not then listed on an exchange, the average of the closing bid and asked prices per share for the Common Stock in the over-the-counter market as quoted on NASDAQ such market for the business day of the Date of Grant, or (c) if the Common Stock is not then listed on any exchange or quoted on NASDAQ, an over-the-counter market, an amount determined in good faith by the Committee to be the fair market value of the Common Stock, after consideration of all relevant factors. 2.6 "Nonqualified factors, on the Date of Grant. 2.6"Nonqualified Stock Option" shall mean a Stock Option which is not intended to qualify for tax treatment as an "incentive stock option" under Section 422 of the Code. 2.7. "Option 2.7"Option Exercise Price" shall mean the price paid for Shares upon the exercise of a Stock Option granted hereunder. 2.8. "Optionee" 2.8"Optionee" shall mean any person entitled to exercise a Stock Option pursuant to the terms of the Plan. 1 2.9. "Stock 2.9"Stock Option" shall mean a stock option giving an Optionee the right to purchase shares of the Corporation's Common Stock. Stock Options granted under the Plan shall be Nonqualified Stock Options. 3.1AUTHORITY; INDEMNIFICATION. 3.2RULE 16B-3 COMPLIANCE. View More
Definitions. As used herein, the following terms shall have the corresponding meanings: 2.1. "Committee" shall mean the Board of Directors of the Corporation, or a duly constituted committee the Executive Committee of the Board consisting of three or more members, at least a majority Directors acting under authority delegated by the Board of which shall be "Non-Employee Directors" as such term is used in Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Direct...ors. 2.2 "Common Stock" shall mean the common stock, par value $1.00 per share, of the Corporation. 2.3. "Date of Grant" shall mean the date of grant the approval by the Committee of a Stock Option granted hereunder as set forth in the Stock Option Agreement. Award Terms and Conditions. In the event of a grant conditioned, among other things, upon stockholder ratification of this Plan, the date of such conditional grant shall be the Date of Grant for purposes of this Plan. 2.4. "Non-Employee Director" "Employee" shall mean a person that is an elected or appointed member of the board of directors of a corporation, who is not a any common-law employee of the corporation. Corporation. The determination of whether or not a person is a Non-Employee an Employee of the Corporation with respect to the grant or exercise of a an Incentive Stock Option shall be made in accordance with the rule of Income Tax Regulation Section 1.421-7(h) (or successor regulation). 2.5. "Fair Market Value" shall mean, with respect to the exercise grant of an option under the Plan, (a) if the Common Stock is listed on a national securities exchange or the NASDAQ Global Market, the closing price of the Common Stock for the business day immediately preceding the day of the Date of Grant, or (b) if the Common Stock is not then listed on an exchange, the average of the closing bid and asked prices per share for the Common Stock in the over-the-counter market as quoted on NASDAQ such market for the business day of the Date of Grant, or (c) if the Common Stock is not then listed on any exchange or quoted on NASDAQ, an over-the-counter market, an amount determined in good faith by the Committee to be the fair market value of the Common Stock, after consideration of all relevant factors. factors, on the Date of Grant. In all events, "Fair Market Value" shall be determined in good faith by the Committee in a manner that will comply with the provisions of Section 409A of the Code and the regulations promulgated thereunder. 2.6 "Nonqualified Stock Option" shall mean a Stock Option which is not intended to qualify for tax treatment as an "incentive stock option" under Section 422 of the Code. 2.7. 2.7 "Option Exercise Price" shall mean the price paid for Shares upon the exercise of a Stock Option granted hereunder. 2.8. 2.8 "Optionee" shall mean any person entitled to exercise a Stock Option pursuant to the terms of the Plan. 1 2.9. 2.9 "Stock Option" shall mean a stock option giving an Optionee the right to purchase shares of the Corporation's Common Stock. Stock Options granted under the Plan shall be Nonqualified Stock Options. 1 3. ADMINISTRATION. 3.1 AUTHORITY; INDEMNIFICATION. Within the limitations described herein, the Committee shall administer the Plan, select the Employees of the Corporation, including officers of the Corporation, to whom Stock Options shall be granted, determine the number of Shares to be subject to each grant, determine the method of payment upon exercise of each Stock Option, determine all other terms of Stock Options granted hereunder and interpret, construe and implement the provisions of the Plan. All questions of interpretation of the Plan or any Stock Option granted under the Plan shall be determined by the Committee, and such decisions shall be binding upon all persons having an interest in the Plan and/or any Stock Option. No member of the Committee shall be liable for any action or determination made in good faith, and the members shall be entitled to indemnification and reimbursement in the manner provided in the Corporation's Certificate of Incorporation, or as otherwise permitted by law. A member of the Committee shall be eligible to receive a grant of a Stock Option under the Plan on the same terms as other Employees. However, if the Committee grants Stock Options to a member of the Committee, such grant shall not be effective until such grant is approved by the Compensation Committee, consisting of three or more "independent directors" as defined in and determined pursuant to the Marketplace Rules of the NASDAQ Global Market, Inc. ("NASDAQ") or any other stock exchange upon which the Common Stock of the Corporation is listed. 3.2 RULE 16B-3 COMPLIANCE. With respect to the participation of eligible participants who are subject to Section 16(b) of the Exchange Act, the Plan shall be administered in compliance with the requirements of Rule 16b-3. View More
Definitions. As used herein, the following terms shall have the corresponding meanings: 2.1. "Committee" shall mean the Board of Directors of the Corporation, or a duly constituted committee of the Board consisting of three or more members, at least a majority of which shall be "Non-Employee Directors" as such term is used in Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). 2.2 "Common 2.2"Common Stock" shall mean the common stock, par value $1.00 per share, ...of the Corporation. 2.3. "Date 2.3."Date of Grant" shall mean the date of grant of a Stock Option granted hereunder as set forth in the Stock Option Agreement. In the event of a grant conditioned, among other things, upon stockholder ratification of this Plan, the date of such conditional grant shall be the Date of Grant for purposes of this Plan. 2.4. "Non-Employee 2.4."Non-Employee Director" shall mean a person that is an elected or appointed member of the board of directors of a corporation, who is not a common-law employee of the corporation. The determination of whether or not a person is a Non-Employee of the Corporation with respect to the grant or exercise of a Stock Option shall be made in accordance with the rule of Income Tax Regulation Section 1.421-7(h) (or successor regulation). 2.5. "Fair 2.5."Fair Market Value" shall mean, with respect to the exercise of an option under the Plan, (a) if the Common Stock is listed on a national securities exchange or the NASDAQ Global Market, the closing price of the Common Stock for the business day immediately preceding the day of for which the Date of Grant, determination is being made, or (b) if the Common Stock is not then listed on an exchange, the average of the closing bid and asked prices per share for the Common Stock in the over-the-counter market as quoted on NASDAQ for the business day of immediately preceding the Date of Grant, day for which the determination is being made, or (c) if the Common Stock is not then listed on any exchange or quoted on NASDAQ, an amount determined in good faith by the Committee to be the fair market value of the Common Stock, after consideration of all relevant factors. 2.6 "Nonqualified 2.6"Nonqualified Stock Option" shall mean a Stock Option which is not intended to qualify for tax treatment as an "incentive stock option" under Section 422 of the Code. 2.7. "Option 2.7."Option Exercise Price" shall mean the price paid for Shares upon the exercise of a Stock Option granted hereunder. 2.8. "Optionee" 2.8."Optionee" shall mean any person entitled to exercise a Stock Option pursuant to the terms of the Plan. 1 2.9. "Stock Option" shall mean a stock option giving an Optionee the right to purchase shares of the Corporation's Common Stock. Stock Options granted under the Plan shall be Nonqualified Stock Options.View More
