Definitions Clause Example with 6 Variations from Business Contracts

Definitions. As used in this Plan, the following words and phrases shall have the meanings indicated: (a) "Award" shall mean any Bonus or Option issued pursuant to the Plan. (b) "Award Agreement" shall mean any written agreement, contract or other instrument or document evidencing any Award granted under the Plan. Each Award Agreement shall be subject to the applicable terms and conditions of the Plan and any other terms and conditions (not inconsistent with the Plan) determined by the Committee. In the even...t that any provision of an Award Agreement conflicts with or is inconsistent in any respect with the terms of the Plan, the terms of the Plan shall control. (c) "Board" shall mean the Board of Directors of the Corporation. (d) (b) "Bonus" means any Common Stock bonus issued pursuant to the provisions of this Plan. (e) "Code" shall mean the Internal Revenue Code of 1986, as amended from time to time, and any regulations promulgated thereunder. (f) (c) "Committee" shall mean any Committee appointed by the Board to administer the this Plan, if one has been appointed. If no Committee has been appointed, the term "Committee" shall mean the Board. (g) (d) "Common Stock" shall mean the Corporation's $.0000053 $0.01 par value common stock. 1 (h) (e) "Disability" shall mean a Recipient's inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuous period of not less than 12 months. If the Recipient has recipient is covered by a disability insurance policy, plan sponsored by the Corporation, the term "Disability" shall be as defined therein. (i) (f) "Fair Market Value" per share as of a particular date shall mean the last sale price of the Corporation's Common Stock as reported on a the national securities exchange, exchange on which the stock is principally traded on such date, or if such date was not listed on a national securities exchange, then the closing price of the Corporation's Common Stock as so reported trading date, on the over-the-counter markets on the day of determination, immediately preceding trading date or, if such quotations are unavailable, the value determined by the Committee in accordance with its discretion in making a bona fide, good faith determination the requirements of fair market value. Fair Market Value shall be determined without regard to any restriction other than a restriction which, by its terms, never will lapse. In the case of Awards granted at a time when the Corporation does not have a registration statement in effect relating to the shares issuable hereunder, the value at which the Bonus shares are issued may be determined by the Committee at a reasonable discount from Fair Market Value to reflect the restricted nature Section 409A of the shares to be issued and the inability of the Recipient to sell those shares promptly. (j) Internal Revenue Code. (g) "Recipient" means any person granted an Option or awarded a Bonus pursuant hereunder. (h) "Internal Revenue Code" shall mean the United States Internal Revenue Code of 1986, as amended from time to time (codified as Title 26 of the Plan. United States Code) and any successor legislation. View More

Definitions. As used in this Plan, the following words and phrases shall have the meanings indicated: (a) "Award" shall mean any Bonus or Option issued pursuant to the Plan. (b) "Award Agreement" shall mean any written agreement, contract or other instrument or document evidencing any Award granted under the Plan. Each Award Agreement shall be subject to the applicable terms and conditions of the Plan and any other terms and conditions (not inconsistent with the Plan) determined by the Committee. In the even...t that any provision of an Award Agreement conflicts with or is inconsistent in any respect with the terms of the Plan, the terms of the Plan shall control. (c) "Board" shall mean the Board of Directors of the Corporation. (d) (b) "Bonus" means any Common Stock bonus issued pursuant to the provisions of this Plan. (e) "Code" shall mean the Internal Revenue Code of 1986, as amended from time to time, and any regulations promulgated thereunder. (f) (c) "Committee" shall mean any Committee appointed by the Board to administer the this Plan, if one has been appointed. If no Committee has been appointed, the term "Committee" shall mean the Board. (g) (d) "Common Stock" shall mean the Corporation's $.0000053 $0.01 par value common stock. 1 (h) (e) "Disability" shall mean a Recipient's inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuous period of not less than 12 months. If the Recipient has recipient is covered by a disability insurance policy, plan sponsored by the Corporation, the term "Disability" shall be as defined therein. (i) (f) "Fair Market Value" per share as of a particular date shall mean the last sale price of the Corporation's Common Stock as reported on a the national securities exchange, exchange on which the stock is principally traded on such date, or if such date was not listed on a national securities exchange, then the closing price of the Corporation's Common Stock as so reported trading date, on the over-the-counter markets on the day of determination, immediately preceding trading date or, if such quotations are unavailable, the value determined by the Committee in accordance with its discretion in making a bona fide, good faith determination the requirements of fair market value. Fair Market Value shall be determined without regard to any restriction other than a restriction which, by its terms, never will lapse. In the case of Awards granted at a time when the Corporation does not have a registration statement in effect relating to the shares issuable hereunder, the value at which the Bonus shares are issued may be determined by the Committee at a reasonable discount from Fair Market Value to reflect the restricted nature Section 409A of the shares to be issued and the inability of the Recipient to sell those shares promptly. (j) Internal Revenue Code. (g) "Recipient" means any person granted an Option or awarded a Bonus pursuant hereunder. (h) "Internal Revenue Code" shall mean the United States Internal Revenue Code of 1986, as amended from time to time (codified as Title 26 of the Plan. United States Code) and any successor legislation. View More

Definitions. As used in this Plan, the following words and phrases shall have the meanings indicated: (a) "Award" shall mean any Bonus or Option issued pursuant to the Plan. (b) "Award Agreement" shall mean any written agreement, contract or other instrument or document evidencing any Award granted under the Plan. Each Award Agreement shall be subject to the applicable terms and conditions of the Plan and any other terms and conditions (not inconsistent with the Plan) determined by the Committee. In the even...t that any provision of an Award Agreement conflicts with or is inconsistent in any respect with the terms of the Plan, the terms of the Plan shall control. (c) "Board" shall mean the Board of Directors of the Corporation. (d) "Bonus" means any Common Stock bonus issued pursuant to the Plan. (e) "Code" shall mean the Internal Revenue Code of 1986, as amended from time to time, and any regulations promulgated thereunder. (f) "Committee" shall mean any Committee appointed by the Board to administer the Plan, if one has been appointed. If no Committee has been appointed, the term "Committee" shall mean the Board. (g) "Common Stock" shall mean the Corporation's $.0000053 par value common stock. 1 (h) "Disability" shall mean a Recipient's inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuous period of not less than 12 months. If the Recipient has a disability insurance policy, the term "Disability" shall be as defined therein. (i) "Fair Market Value" per share as of a particular date shall mean the last sale price of the Corporation's Common Stock as reported on a national securities exchange, or if not listed on a national securities exchange, then the closing price of the Corporation's Common Stock as so reported on the over-the-counter markets on the day of determination, or, if such quotations are unavailable, the value determined by the Committee in accordance with its discretion in making a bona fide, good faith determination of fair market value. Fair Market Value shall be determined without regard to any restriction other than a restriction which, by its terms, never will lapse. In the case of Awards granted at a time when the Corporation does not have a registration statement in effect relating to the shares issuable hereunder, the value at which the Bonus shares are issued may be determined by the Committee at a reasonable discount from Fair Market Value to reflect the restricted nature of the shares to be issued and the inability of the Recipient to sell those shares promptly. (j) "Recipient" means any person granted an Option or awarded a Bonus pursuant to the Plan. View More

Definitions. As used in this Plan, the following words and phrases shall have the meanings indicated: (a) "Award" shall mean any Bonus or Option issued pursuant to the Plan. (b) "Award Agreement" shall mean any written agreement, contract or other instrument or document evidencing any Award granted under the Plan. Each Award Agreement shall be subject to the applicable terms and conditions of the Plan and any other terms and conditions (not inconsistent with the Plan) determined by the Committee. In the even...t that any provision of an Award Agreement conflicts with or is inconsistent in any respect with the terms of the Plan, the terms of the Plan shall control. (c) "Board" shall mean the Board of Directors of the Corporation. (d) "Bonus" means any Common Stock bonus issued pursuant to the Plan. (e) "Code" shall mean the Internal Revenue Code of 1986, as amended from time to time, and any regulations promulgated thereunder. (f) "Committee" shall mean any Committee appointed by the Board to administer the Plan, if one has been appointed. If no Committee has been appointed, the term "Committee" shall mean the Board. (g) "Common Stock" shall mean the Corporation's $.0000053 par value common stock. 1 (h) "Disability" shall mean a Recipient's inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuous period of not less than 12 months. If the Recipient has a disability insurance policy, the term "Disability" shall be as defined therein. (i) "Fair Market Value" per share as of a particular date shall mean the last sale price of the Corporation's Common Stock as reported on a national securities exchange, or if not listed on a national securities exchange, then the closing price of the Corporation's Common Stock as so reported on the over-the-counter markets on the day of determination, or, if such quotations are unavailable, the value determined by the Committee in accordance with its discretion in making a bona fide, good faith determination of fair market value. Fair Market Value shall be determined without regard to any restriction other than a restriction which, by its terms, never will lapse. In the case of Awards granted at a time when the Corporation does not have a registration statement in effect relating to the shares issuable hereunder, the value at which the Bonus shares are issued may be determined by the Committee at a reasonable discount from Fair Market Value to reflect the restricted nature of the shares to be issued and the inability of the Recipient to sell those shares promptly. (j) "Recipient" means any person granted an Option or awarded a Bonus pursuant to the Plan. View More

Definitions. As used in this Plan, the following words and phrases shall have the meanings indicated: (a) "Award" shall mean any Bonus or Option issued pursuant to the Plan. (b) "Award Agreement" shall mean any written agreement, contract or other instrument or document evidencing any Award granted under the Plan. Each Award Agreement shall be subject to the applicable terms and conditions of the Plan and any other terms and conditions (not inconsistent with the Plan) determined by the Committee. In the even...t that any provision of an Award Agreement conflicts with or is inconsistent in any respect with the terms of the Plan, the terms of the Plan shall control. (c) "Board" shall mean the Board of Directors of the Corporation. (d) (b) "Bonus" means any Common Stock bonus issued pursuant to the provisions of this Plan. (e) "Code" shall mean the Internal Revenue Code of 1986, as amended from time to time, and any regulations promulgated thereunder. (f) (c) "Committee" shall mean any Committee appointed by the Board to administer the this Plan, if one has been appointed. If no Committee has been appointed, the term "Committee" shall mean the Board. (g) (d) "Common Stock" shall mean the Corporation's $.0000053 common shares, par value common stock. 1 (h) of $0.001 in the capital of the Corporation. (e) "Disability" shall mean a Recipient's inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuous period of not less than 12 months. If the Recipient has a disability insurance policy, the term "Disability" shall be as defined therein. (i) 1 (f) "Fair Market Value" per share as of a particular date shall mean the last sale price of the Corporation's Common Stock as reported on a national securities exchange, exchange or on an automated quotation system, or if the quotation for the last sale reported is not listed on a national securities exchange, then available for the Corporation's Common Stock, the average of the closing price bid and asked prices of the Corporation's Common Stock as so reported on the over-the-counter markets on the day of determination, or, if such quotations are unavailable, the value determined by the Committee in accordance with its discretion in making a bona fide, good faith determination of fair market value. Fair Market Value shall be determined without regard to any restriction other than a restriction which, by its terms, never will lapse. In the case of Awards Options and Bonuses granted at a time when the Corporation does not have a registration statement in effect relating to the shares issuable hereunder, the value at which the Bonus shares are issued may be determined by the Committee at a reasonable discount from Fair Market Value to reflect the restricted nature of the shares to be issued and the inability of the Recipient to sell those shares promptly. (j) (g) "Options" means options granted pursuant to the provisions of this Plan, including Incentive Stock Options and Non-qualified Stock Options. (h) "Recipient" means any person granted an Option or awarded a Bonus pursuant hereunder. (i) "Internal Revenue Code" shall mean the United States Internal Revenue Code of 1986, as amended from time to time (codified as Title 26 of the Plan. United States Code) and any successor legislation. View More

Definitions. As used in this Plan, the following words and phrases shall have the meanings indicated: (a) "Award" shall mean any Bonus or Option issued pursuant to the Plan. (b) "Award Agreement" shall mean any written agreement, contract or other instrument or document evidencing any Award granted under the Plan. Each Award Agreement shall be subject to the applicable terms and conditions of the Plan and any other terms and conditions (not inconsistent with the Plan) determined by the Committee. In the even...t that any provision of an Award Agreement conflicts with or is inconsistent in any respect with the terms of the Plan, the terms of the Plan shall control. (c) "Board" shall mean the Board of Directors of the Corporation. (d) (b) "Bonus" means any Common Stock bonus issued pursuant to the provisions of this Plan. (e) "Code" shall mean the Internal Revenue Code of 1986, as amended from time to time, and any regulations promulgated thereunder. (f) (c) "Committee" shall mean any Committee appointed by the Board to administer the this Plan, if one has been appointed. If no Committee has been appointed, the term "Committee" shall mean the Board. (g) (d) "Common Stock" shall mean the Corporation's $.0000053 common shares, no par value common stock. 1 (h) in the capital of the Corporation. (e) "Disability" shall mean a Recipient's inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuous period of not less than 12 months. If the Recipient has a disability insurance policy, the term "Disability" shall be as defined therein. (i) (f) "Fair Market Value" per share as of a particular date shall mean the last sale price of the Corporation's Common Stock as reported on a national securities exchange, exchange or by NASDAQ, or if the quotation for the last sale reported is not listed on a national securities exchange, then available for the Corporation's Common Stock, the average of the closing price bid and asked prices of the Corporation's Common Stock as so reported on the over-the-counter markets on the day of determination, or, if such quotations are unavailable, the value determined by the Committee in accordance with its discretion in making a bona fide, good faith determination of fair market value. Fair Market Value shall be determined without regard to any restriction other than a restriction which, by its terms, never will lapse. In the case of Awards Options and Bonuses granted at a time when the Corporation does not have a registration statement in effect relating to the shares issuable hereunder, the value at which the Bonus shares are issued may be determined by the Committee at a reasonable discount from Fair Market Value to reflect the restricted nature of the shares to be issued and the inability of the Recipient to sell those shares promptly. (j) (g) "Options" means options granted pursuant to the provisions of this Plan, including Incentive Stock Options and Non-qualified Stock Options. (h) "Recipient" means any person granted an Option or awarded a Bonus pursuant hereunder. (i) "Internal Revenue Code" shall mean the United States Internal Revenue Code of 1986, as amended from time to time (codified as Title 26 of the Plan. United States Code) and any successor legislation. View More