TheCorporateCounsel.net

September 5, 2007

Are You a Legal Pro or Troll? Try Our New Challenge

It will take you less than a minute to complete this five-question quiz: “Pro” or “Troll”? Test Your Knowledge. It will score your answers as you go—and let you know how you compare against your peers.

Simply read each statement and decide whether you agree with it (by clicking “Ah Yes”) or disagree (by clicking “That’s Ridiculous”). Then, you will be told whether you were correct—and we also provide some analysis if you wish to learn more about each answer.

Survey Results: Lead/Presiding Directors

Here are the results from our recent survey about lead and presiding directors:

1. Does your board have a lead or presiding director?
– Yes – 84.4%
– No – 15.6%

2. What is the term of the lead/presiding director?
– 1 year – 25.9%
– 2 years – 18.5%
– 3-4 years – 11.1%
– More than 4 years – 0.0%
– Undetermined – 44.4%

3. Are there “term limits” for the lead/presiding director?
– Yes – 3.7%
– No – 96.3%

4. What are the responsibilities of the lead/presiding director:
– Chairs non-management director meetings – 85.2%
– Chairs executive sessions – 81.5%
– Input on board agendas – 59.3%
– Liaison between management and independent directors – 70.4%
– Works on governance and compliance matters – 33.3%

5. Does the lead/presiding director receive extra compensation for these additional responsibilities?
– Yes – 40.7%
– No – 59.3%

Our September Eminders is Posted!

We have posted the September issue of our complimentary monthly email newsletter. Sign up today to receive it by simply inputting your email address!

– Broc Romanek