Public Director definition
Examples of Public Director in a sentence
Selection Whenever any Director position other than a Member Representative Director position becomes vacant, whether because of death, disability, disqualification, removal, or resignation, the Nominating Committee shall nominate, and the Sole LLC Member shall select, a person satisfying the classification (Industry, Non-Industry, or Public Director), if applicable, for the directorship as provided in Article III, Section 2 to fill such vacancy.
Each Member, the Company, and each other Person bound by this Agreement hereby waives all rights to, and releases each Public Director serving as a Board Member from any such duties.
If the vacancy is for a seat filled by a Public Director, the Board shall appoint a Person that satisfies the definition of Public Director.
The Board shall elect a Director to serve as Chairman of the Board, who need not be a Public Director.
A majority of the Directors serving on the Board, including at least one Public Director, shall constitute a quorum for the transaction of business of the Board.