This excerpt taken from the TTWO DEF 14A filed Feb 28, 2007.
Independent Directors. The Board has determined that Messrs. Grace, Flug, Lewis, Tisch, Emmel, Malone, Levy and Brown are independent directors as defined under the rules of the NASDAQ Stock Market. During the fiscal years ended October 31, 2005 and October 31, 2006, the independent directors met in executive session (outside the presence of management) on several occasions. The Board has established three standing committees, a Compensation Committee, a Corporate Governance Committee and an Audit Committee, each of which is comprised of independent directors and is governed by a written charter. The Board also established a Special Litigation Committee in 2006, which is comprised of
Messrs. Malone, Levy and Brown, which, among other things, is responsible for investigating the allegations made in certain stockholder derivative actions and investigating the Companys past option granting practices. Certain information as to each of the Companys standing board committees is set forth below: