Inside Director definition
Examples of Inside Director in a sentence
A majority of the Corporation Board, including at least one Inside Director and one Outside Director, shall be necessary to constitute a quorum.
Each visit by an Inside Director, if any, must be approved by the designated Outside Director, unless the visit is to attend Company Board meetings or Company Board committee meetings.
The designated Outside Director shall also have authority to review, approve, and disapprove requests for proposed Visits to any of the Affiliates by all personnel who represent the Company (including all of its directors, officers, employees, representatives, and agents, except for each Inside Director, if any, who is deemed to represent the Affiliates for purposes of this Agreement), as well as Visits between or among such personnel at other locations.
The Company shall establish a permanent committee of the Company Board, consisting of at least one Outside Director and one Inside Director, if any, to be known as the Compensation Committee.
Notwithstanding the above, in the event of an Optionee’s change in status from Consultant, Employee or Director to Employee, Consultant or Director (e.g., an Inside Director becoming an Independent Director), an Optionee’s status as a Service Provider shall continue notwithstanding the change in status.