Amendment ID: S2842-33

Amendment 33

Ensuring fair worker representation on corporate boards of directors

Messrs. Lewis and Feeney, Ms. Rausch, Messrs. Welch and Brady move that the proposed new text be amended by adding the following section:-

SECTION X. Section 8.03 of chapter 156D of the General Laws is hereby amended by inserting the following subsection:-

(e) Not less than two-fifths of the directors of a corporation shall be elected by the employees of the corporation using an election process. A director elected by the employees shall have the same rights and powers and shall be subject to the same duties and responsibilities as a director elected by the stockholders.

(f) subsection (e) shall apply only to corporations that have more than $100,000,000 in gross receipts in a given taxable year.