31.  Defining what constitutes an independent director could also be tricky.

32.  Domco said a special committee of independent directors, created last week to evaluate the bid, will hire legal and financial advisors to review the offer.

33.  DISNEY HOLDERS REJECT PROPOSAL Disney shareholders rejected a move to redefine what constitutes an independent director.

34.  Ebner wanted the company to name more independent directors and had tried unsuccessfully to win a seat of his own last year.

35.  Enron also said it planned to add a non-executive chairman and additional independent directors to its board.

36.  Eventually the fund wants an independent director as chairman.

37.  For example, Calpers wants independent directors to make up a majority of a board and to meet once a year without the chief executive or other non-independent direction.

38.  For example, it had no independent directors or audit committee when it went public.

39.  Four are independent directors who choose their own successors.

40.  He added that, at Equimed, all such transactions are approved by three independent directors.