Approved Family Trust

Approved Family Trust. Means a Family Trust that meets either of the following requirements: (i) the Family Trust is a revocable grantor trust of which the transferring Stockholder is the grantor and retains sole power to vote and to dispose of any Stock held by such Family Trust pursuant to this Agreement; or (ii) the controlling documents of the Family Trust contain provisions approved by a majority vote of the Board of Directors acting in its sole and absolute discretion providing that the sole power to vote, or... to direct the voting of, and to dispose, or to direct the disposition, of any Stock held by such Family Trust pursuant to this Agreement may only be exercised by officers or employees of the Corporation approved by the Board of Directors. View More