Title
Draft 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 Board has reviewed and adopts the Board of Directors Compensation Policy, with such changes, if any, as were approved by the Board; 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.