Русско-англо-русский юридический словарь

Definition of 'Outside Director'

Any member of a company's board of directors who is not an employee or stakeholder in the company. Outside directors are paid an annual retainer fee in the form of cash, benefits and/or stock options. Corporate governance standards require public companies to have a certain number or percentage of outside directors on their boards as they are more likley to provide unbiased opinions.

The insurance contract or agreement is a contract whereby the insurer will pay the insured (the person whom benefits would be paid to, or on behalf of), if certain defined events occur. (Wikipedia)

A Force Majeure clause (French for "superior force") is a contract provision that allows a party to suspend or terminate the performance of its obligations when certain circumstances beyond their control arise, making performance inadvisable, commercially impracticable, illegal, or impossible. (ContractStandards)

Local autonomy is the exercise of certain basic powers, i.e. police power, power of eminent domain, and taxing power, by local government units so as to best serve the interest and promote the general well being of their inhabitants. (Uber Digests)