Continuing Outside Director

Continuing Outside Director. Shall mean any individual who is not an employee of FLIC or the Bank and who (i) is a director of FLIC as of the date hereof, (ii) prior to election as a director is nominated by at least two-thirds (2/3) of the Continuing Outside Directors, or (iii) following election as a director is designated a Continuing Outside Director by at least two-thirds (2/3) of Continuing Outside Directors.

Continuing Outside Director. Shall mean any individual who is an Outside Director on the date hereof, or who is a Director on the date hereof and becomes an Outside Director but only after such person becomes an Outside Director, or who becomes an Outside Director unless a majority of the Continuing Outside Directors designate (before such person becomes an Outside Director) that such person is not a Continuing Outside Director. In the event there are no Outside Directors, the Directors who have been Directors for at least... one (1) year shall be deemed to be Continuing Outside Directors for the purposes of this Agreement but only until an Outside Director assumes office. View More