Define: Eligible Director

What does "Eligible Director" mean? The meaning differs based on the contract. We found 2 definitions across 2 companies in SEC filings.

Definition 1 (AUTOMATIC DATA PROCESSING INC, seen in 1 filing)

Eligible Director means a person who is (i) a non employee director within the meaning of Rule 16b 3 under the Exchange Act and (ii) an independent director under the rules of NASDAQ or any other securities exchange or inter-dealer quotation system on which the Common Stock is listed or quoted, or a person meeting any similar requirement under any successor rule or regulation.

Source: AUTOMATIC DATA PROCESSING INC 10-Q

Definition 2 (AMGEN INC, seen in 1 filing)

Eligible Director means a member of the Board who is not an employee of the Company or any Affiliate.

Source: AMGEN INC 10-K

Data extracted from 5 SEC EDGAR filings across 2 companies. Source: Material contracts (Exhibit 10) filed under Regulation S-K.

This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.

Occurrences: 5
Companies: 2
Keywords:
Eligible Directordefinitioncontract languagelegal termSEC filing

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