Special Security Agreements

A variant is a Special Security Agreement (SSA) in which the company`s board of directors may be composed of both U.S. citizens and nationals of the parent company`s country. In this case, when national security issues are discussed, only U.S. leaders can participate. THE SSA requires that businesses be run by U.S. law and by U.S. citizens. [1] In May 2006, the CEO of BAE Systems described the “firewalled” status of BAE, a U.S. subsidiary, BAE Systems Inc., “British executives, including myself, see the financial results; but many areas of technology, products and programs are not visible to us…. The SSA allows us to act as a U.S. company in the United States and provide the highest level of security and integrity in some of the most sensitive areas of national security. [2] A proxy board of directors is a proxy agreement imposed by the U.S. Department of Defense`s defense security service for foreign investors who wish to acquire certain U.S. companies.

This is for national security reasons and is especially the case for defence companies that participate in top secret contracts. The proxy agreement exists between the foreign company, the U.S. subsidiary that holds classified contracts, and the DSS. In the event of a vacancy on the board of directors during the period of the special security agreement, the company will immediately inform the DSS of this vacancy through its agency security officer and any vacancy of the external director is immediately filled. During the period of the special security agreement, the appointments of new directors or alternate directors become final only after approval by the DSS. Departments and executive agencies meet before approving contractors after B.C. or authorizing approval of the authorization under a Special Security Agreement (SSA). They will strictly comply with all applicable and amended rules, directives and procedures of mind from time to time, including, but not limited to, our code of ethical conduct, insider trading policy, anti-corruption policy, transaction guidelines for related parties, special security agreement, internal controls and disclosure controls; all applicable U.S.