Common use of Executive Sessions Clause in Contracts

Executive Sessions. The non-management directors will meet in executive session without management present at each regularly scheduled Board meeting. The directors may also meet in executive session with one or more members of management present. The Executive Chairman will preside over executive sessions of the Board in which he is a participant. The directors will select a director to preside over each executive session in which the Executive Chairman does not participate. If at any time there are non-management directors who are not independent directors, an executive session including only independent directors will be held at least once a year.