Sec. 21.369.  REVOCABILITY OF PROXY.  (a)  In this section, a "proxy coupled with an interest" includes the appointment as proxy of:
(1)  a pledgee;
(2)  a person who purchased or agreed to purchase the shares subject to the proxy;
(3)  a person who owns or holds an option to purchase the shares subject to the proxy;
(4)  a creditor of the corporation who extended the corporation credit under terms requiring the appointment;
(5)  an employee of the corporation whose employment contract requires the appointment;  or
(6)  a party to a voting agreement created under Section 6.252 or a shareholders' agreement created under Section 21.101.
(b)  A proxy is revocable unless:
(1)  the proxy form conspicuously states that the proxy is irrevocable;  and
(2)  the proxy is coupled with an interest.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.