These are industry terms, commonly used to grade projects in script development. 

So a “Pass” means that the project does not merit further consideration, at this time.

An “Low Consider” verdict means that the project merits further consideration, but with reservations. 

A “Consider” verdict is a strong endorsement of a script, albeit one with at least some reservations. 

And a “Recommend” verdict suggests that the script is an extremely accomplished piece of writing, demanding serious and potentially urgent consideration.