Title
Resolution - Review and Approval of the Board of Directors Compensation Policy - A Stover
Other Info
Submitted By: Andrea Stover
Department: General Counsel
Financial Impact and Cost/Benefit Considerations: N/A
Discussion
The purpose of the Board of Directors Compensation Policy is to address all compensation and benefits provided to Directors for their time and attention in the performance of their duties for the Cooperative, including optional insurance coverage.
In September 2024, the Cooperative approved the transition of its medical insurance plan to a self-funded plan beginning in 2025. With adoption of the self-funded plan, it is required to make some amendments to the Board of Directors Compensation Policy as to availability of health insurance for Directors.
Body
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS that the revisions to the Board of Directors Compensation Policy are approved with such changes, if any, adopted by the Board during Open Session; and
BE IT FURTHER RESOLVED that the Chief Executive Officer, or designee, is authorized to take all such actions as may be necessary to implement this resolution.