Fully Independent Director definition
Fully Independent Director means a person who qualifies as an "outside director" of the Company and the Investor within the meaning of Section 162(m) of the Internal Revenue Code of 1986 as in effect on the date hereof and who is not (apart from such directorship)
Examples of Fully Independent Director in a sentence
In connection with the expiration of the term of office of any Fully Independent Director appointed in accordance with the foregoing clause (b), the Investor shall be free to designate an Investor Nominee in accordance with this Section 5.1 to replace such Fully Independent Director.
At the direction of the Investor, the Company shall use reasonable efforts to cause the removal from the Board of Directors of any Investor Nominee (other than an Independent Director or Fully Independent Director).
Except for any Investor Nominee who is an Independent Director or a Fully Independent Director, the Investor acknowledges that the Investor Nominees to the Board will not be entitled to receive any compensation as directors.