Outside Director Limitations Clause Example from Business Contracts

Outside Director Limitations. No Outside Director may be paid, issued or granted, in any Fiscal Year, cash compensation and equity awards (including any Awards issued under this Plan) with an aggregate value greater than $1,200,000 (with the value of each equity award based on its grant date fair value (determined in accordance with U.S. generally accepted accounting -14- principles)). Any cash compensation paid or Awards granted to an individual for his or her services as an Employee, or for his or her services as a Consult...ant (other than as an Outside Director), will not count for purposes of the limitation under this Section 11. View More