PCC II Employee

PCC II Employee. Shall mean: (i) Any individual who is a full- or part-time salaried or hourly employee (i.e., paid in accordance with normal payroll procedures) of PCC II or PSB (a "PCC II Payroll Employee"); (ii) A member of the Board of Directors of PCC II or PSB; and 3 Southland Capital Co. 2002 Stock Option Plan (iii) An independent contractor who performs services for PCC II or PSB and who is not a member of the Board of Directors of PCC II or PSB.