Exec 4 - Setting Up and Managing a Gender-Smart Board SOP

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SETTING UP AND MANAGING A GENDER-SMART BOARD SOP SETTING UP GENDER-SMART BOARDS – THE FIRST BOARD MEETING 1. How Board members are assigned, and who is on the Board should be clarified in the legal documents, which were signed at the investment close. Start by reviewing these legal documents with the SME owners.

2. Internally, decide which fund manager team member will be the Board member.

Ensure an equal representation of women and men are on the Board.

3. Print or send the shareholder this SOP before the initial meeting, which establishes the working relationship between the fund manager and the portfolio company (see the Statement of Work Template below).

4. At the First 180-Days kick-off meeting, the fund manager and the portfolio company must agree on the assignment of Board member positions and formally schedule the first Board meeting.

5. During the first Board meeting, the fund manager should walk through the role of the Board and other elements in this SOP. Then, the Board members will assign/confirm the CEO of the company, the Board Chair, the Board Secretary, and the Observers, ensuring there is an equal distribution of men and women among the members.

6. The Board Secretary or the Observers will capture notes from the Board meeting.

This will usually be a member of fund manager’s team, but ideally, they will be training a Board secretary that works within the company.

7. Key outcomes of the first Board meeting include: a. All members understand the role of the Board. b. Board members are assigned and understand their roles. c. The Board meeting schedule is established (monthly, quarterly, etc.).

8. Next steps: a. The Board Chair will prepare the ethics policy of the company for the next Board meeting. b. The Board Secretary will send the notes out and schedule the next Board meeting. c. All will read this “Setting Up & Managing a Board SOP”. d. The SME CEO will prepare the annual management plan and the accompanying budget.

Reference Tools & Templates (Included Below):  Statement of Work (SOW) Template

RUNNING GENDER-SMART BOARD MEETINGS – BEFORE, DURING AND AFTER

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Before the Meeting 1. Schedule the Board meeting with the existing plans of the other members in mind. Pay attention to travel time, lunch or dinner time and time for Board members' exposure to each other before a meeting. Clearly identify packets or agenda items you plan to distribute to Board members. Be sure to follow meeting regulations already place. It is a good practice to deliver agenda packages to Board members at least 72 hours in advance of the meeting to empower them to ask questions. This helps ensure that each member covers appropriate topics in a sufficient amount of time.

2. No surprises. Send out all materials in advance of the meeting. Make sure Board members are not hearing something for the first time at a Board meeting.

3. Rehearse. If you propose something that’s new and different, your investor is sure to ask questions to gauge how you’re thinking about this strategy. Anticipate these and make sure you’re well-prepared to answer thoughtfully.

4. Pre-sell any controversial items. If you’re bringing up an important issue at the Board meeting – especially if it’s controversial – enlist individual support beforehand. Your Board members are people with whom you work closely anyway, so take each person to lunch, or grab coffee together. Garnering a positive opinion from others will ensure you’re not facing a firing squad.

5. Set up. Ensure that all necessary tools are in place and working. These would include LCD projector, pens, pads, refreshments two copies of the last Board meeting minutes ready to be signed.

Reference Tools & Templates (Included Below):

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Sample Board Meeting Scheduling Email from the Board Secretary

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Sample Board Meeting Agenda

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Sample CEO Presentation Template

During the Meeting 1. Signing. The Board Secretary will have all Board members sign off on the last Board meeting minutes. These will be archived in the company’s file hierarchy system.

2. Presenting the Agenda. The Board Chair presents the purpose, outcomes, and agenda to the Board.

3. Presentation – CEO. Once everyone is clear on the POA’s, the CEO of the company presents the following topics: a. General performance of the company

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b. Targets versus actuals analysis (i.e., variance analysis), disaggregated by gender when appropriate c. Key developments d. Financial report and review of the budget and 13-week cash flow 4. Presentation – Board Chair. After agreeing on next steps from the CEO’s presentation, the Board Chair presents the following topics with regards to the governance of the Company: a. Voting rules b. Ethics policy 5. Presentation – Other members (if any). This is when other items of the agenda are discussed, and next steps captured. Ensure that all attendees have an equal opportunity to voice their questions, concerns, or thoughts.

6. Closing. The Board Chair wraps up the meeting with any last remarks and date, time, and place of the next Board meeting Reference Tools & Templates (Included Below):

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Ethics Policy

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Board Meeting Minutes

After the Meeting 1. Clean up the minutes. Proofread and make sure all sentences are clearly written in English, and that decisions (i.e., Board resolutions) are pulled into a clear table for Board members to review.

2. Distribute the minutes. Ensure that the minutes are produced and promptly distributed to all attendees, including guests. Meeting minutes should ideally be verbatim and include following information: 

Date, time location of the Board meeting



Attendees



Key points raised and decisions made

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Motions and voting results if votes taken



Who is responsible for what follow-up action and by what date



Name of the minutes notetaker



Tools used

3. Archive meeting notes. All meeting documents including the agenda, minutes, PowerPoint presentations and supporting documents should be kept together and saved in the company’s file hierarchy. These records can be checked when

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questions arise about past decisions or actions. It is discouraging to committee or group members to rehash prior discussions or decisions because of poor record keeping.

4. Check on actions. Often people need a gentle nudge to remind them about completing action items. Leaders need to check to ensure that action is taking place as agreed. The check can be an e-mail or phone call to the point person, or a meeting devoted to checking on progress. Not checking may send a message that action is really expected.

Reference Tools & Templates (Included Below):

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Board Meeting Minutes Distribution

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Reminder Email

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TOOLS STATEMENT OF WORK – [COMPANY NAME] Background [FUND MANAGER NAME] closed an investment in [COMPANY NAME] (referred to as “Company”) on the [DATE AND MONTH] in the year of [YEAR]. The following statement of work provides a basic framework for [FUND MANAGER] and the Company to work together during the First 180-Days post-investment and beyond.

Principles: The principles that [FUND MANAGER] and the Company will live by are: 

Understanding that we play different, but necessary roles, and that we work as one team.



Understanding that change can be hard, but it is necessary to realize a new future.



Agreeing to make successive steps forward to reach the goals of the Company.

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Pushing myself, my team, and my company to get things done in a timely efficient manner.

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Being open and transparent and avoiding all corrupt practices.



Being responsive and renegotiating commitments when necessary, rather than avoiding confrontation.



Keeping my word and being accountable to my clients, my company, my managers, and my peers.



Being a good leader and striving to set an example – “leaders go first”.

Change Management: As [FUND MANAGER] and the Company begin our partnership, it may feel like there is a lot of change occurring. [FUND MANAGER] and the Company should aim to manage this change carefully to ensure it is done well and does not overwhelm the Company management or staff. The goal is to support the Company’s growth, not to do change for the sake of change. That said, change is required to advance the Company from where it is today, to where it wishes to be as outlined in the Company’s strategic plan. “We cannot get there by doing what we did to get here.”

180-Day Risks & Mitigations: Risks

Mitigation

Too much change happens too quickly, Company leadership receives regular and the Company’s staff get feedback from [FUND MANAGER]’s overwhelmed shared growth services team and shares with the team Too little change happens, and the Company leadership and [FUND Company does not adopt new behaviors MANAGER] pledge their commitment to and the Company stagnates the principles and inspiring change

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across the Company The wrong changes occur, or feedback Company leadership and [FUND does not occur to make corrections and MANAGER] have regular meetings to the Company deteriorates evaluate progress and measured results 180-Day Opportunities: The Company will adopt new changes that will set it on a course for growth and profitability, and to become the market leading company in [COUNTRY] and across the region.

Best Practices: 

[FUND MANAGER] will coach the Company. The Company must be able to perform all tasks [FUND MANAGER] is initially supporting in the 180-day plan.



[FUND MANAGER] will always aim to play an advisory role to the Company owners, CEO, CFO, sales, and marketing team.



Company leadership should always drive the change.



Communications should be clear from Company leadership team to staff; and the leadership team and [FUND MANAGER] should be aligned on goals, roles, milestones, scope, transition plans

Scope of Work and Timeline During the First 180-Days and throughout the course of the partnership, [FUND MANAGER] will focus with the Company on three key areas. These are governance, marketing, and financial management. [FUND MANAGER] will also assist Company with special projects as necessary. The Company will be responsible for their own day-to-day operations, though [FUND MANAGER] may provide strategic input to reduce costs and increase efficiencies through its shared growth services team. The goals for each key focus area are as follows: Governance Work Lane Governance Goal: In the First180-Days, the Company has a functioning Board in place for making decisions, a clear and executable strategic plan and annual budget that management team is responsible for implementing, evaluating managers’ performance, and communicating results to shareholders. Tasks and deadlines include: Deadline

Governance Tasks

Responsible

Approval

Date

The Company appoints its Board and Name(s) holds its first Board meeting, agrees to Board meeting best practices, and sets a Board schedule for the year (monthly for first 6 months, then at least quarterly)

Board

Date

The Company has an executable business plan/strategy with a clear set of priorities for the next 24 months

Name(s)

Board

Date

The Company has pre-production and Name(s)

Board

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Deadline

Governance Tasks

Responsible

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Approval

first year annual budgets, which [FUND MANAGER] and Company believe to be achievable. Management team has agreed to live by them.

Date

The Company has an organizational Name(s) chart, development plans for key management members, identified key vacancies, and management has shared the organizational structure with all staff

Board

Date

Company has identified an auditor; audit Name(s) schedule and review process are in place

Board

Date

Company is preparing and presenting Name(s) Board reports within three business days prior to Board meetings

Board

Date

Company is preparing and presenting Name(s) shareholder/investor reports within 2 weeks from the end of the quarter to the Board

Board

Date

Company has a compensation plan linked Name(s) to business objectives and targets (performance incentives)

Board

Date

The Board has recruited a gender- Name(s) balanced management team

Board

Finance Work Lane Financial Management Goal: The Company has an executable annual budget, 13-week cash flow, accurate and up-to-date financial statements, good internal controls, an accounting system and reporting and financial management systems in place. Tasks and deadlines include:

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Deadline

Finance Management Tasks

Responsible

Date

The Company established, documented, Name(s) and adopted proper financial controls and a new accounting system

Board

Date

The Company established a financial Name(s) policy and controls system

Board

Date

The investment plan has been updated Name(s) (per the budget) and is being deployed properly, as per the investment plan and budget

Board

Date

The Company has a gender-balanced, Name(s) professional, and competent finance and accounting team

Board

Date

The Company has a strong and effective Name(s) accounting and reporting system

Board

Date

The Company is reporting targets versus Name(s) actuals and key performance ratios (disaggregated by gender, when appropriate) and 13-week cashflows to the Board, and making recommendations to correct issues

Board

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Approval

Marketing Work Lane Marketing Goal: The Company has an actionable marketing and sales plan along with a new brand. Tasks and deadlines include:

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Deadline

Marketing Tasks

Responsible

Approval

Date

Branding Development

Name(s)

Board

Name(s)

Board

Date



Conduct market survey



Establish branding style, guidelines, and collateral (i.e., logo, tagline, etc.)

Marketing Plan 

Include information from market surveys and confirm previous market assumptions



Market research completed – competitive analysis, suppliers, demand, segments, channels



Marketing mix finalized: product / packaging, promotions, pricing, place (channels)



Market entry and launch designed

Date

Sales pipeline for major clients/buyers

Name(s)

[SGS Sales and Marketing Lead]

Date

The Company has a strategic marketing and sales plan including targets and metrics:

Name(s)

[SGS Sales and Marketing Lead]

Name(s)

[SGS Sales and Marketing Lead]

Name(s)

Board

Date

Date



Market survey designed



Market research completed – competitive analysis, suppliers, demand, segments, channels



Focus group conducted



Product design completed



Logo completed



Marketing mix finalized: product / packaging, promotions, pricing, place (channels)



Market entry and launch designed

Other Marketing Collateral 

Signage, vehicle, appearance



Website



Marketing Collateral



Advertisement strategy

and

facility

The Company is achieving expected sales growth

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Pre-production Work Lane The Company’s facility, teams and systems are ready for production: Deadline

Tasks

Responsible

Approval

Date

Signing contracts to purchase machines

Name(s)

[SGS Group COO]

Date

Building renovations conducted

Name(s)

Board

Date

Install and test machines

Name(s)

[SGS Group COO]

Date

Product development, testing and market Name(s) survey

[SGS Group COO]

Date

Hire and train operational staff

Name(s)

[SGS Group COO]

Date

Setup management departments and Name(s) functions (e.g., finance, administration, sales, and marketing)

Board

Date

Raw material supply identified and sourced

Name(s)

[SGS Group COO]

Date

Distribution channels ready

Name(s)

[SGS Group COO]

Date

Prepare documents and systems

Name(s)

[SGS Group COO]

Date

Establish quality assurance process

Name(s)

[SGS Group COO]

Special projects Work Lane Special Projects: To be determined and agreed upon based on the strategy set forth in the business plan. These may include:

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Deadlin e Date

Date

Special Tasks

Responsible

Training - Assistance (advice) on how to Name(s) develop and implement 

Technical SOP’s



Knowledge Management

Corporate Culture – Advice on related improvements

Name(s)

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Approval Board

Board

Timeline The clock starts ticking on the [DATE AND MONTH] in the year of [YEAR]. [FUND MANAGER] and the Company aim to complete the bulk of the work outlined above within 180 days of the investment close, which is the [DATE] day of [MONTH] in the year of [YEAR].

Agreement IN WITNESS WHEREOF the parties hereto agree to this statement of work on the [DAY] day of [MONTH] in the year of [YEAR].

OWNER 1 – Name As an owner of the Company, I will do my best to fulfill the goals and timeline set forth in this statement of work. I also agree to abide by the U.S. Foreign Corrupt Practices Act of 1977, which requires transparent accounting and bans bribery of officials.

Name: ________________________ ____________________________

Signature:

-

OWNER 2 – Name As an owner of the Company, I will do my best to fulfill the goals and timeline set forth in this statement of work. I also agree to abide by the U.S. Foreign Corrupt Practices Act of 1977, which requires transparent accounting and bans bribery of officials.

Name: ________________________ ____________________________

Signature:

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[FUND MANAGER] REPRESENTATIVE – [NAME OF MANAGING PARTNER] As Managing Partner of [FUND MANAGER], I will do my best to fulfill the goals and timeline set forth in this statement of work. I also agree to abide by the U.S. Foreign

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Corrupt Practices Act of 1977, which requires transparent accounting and bans bribery of officials.

Name: ________________________ ____________________________

Signature:

-

[FUND MANAGER] REPRESENTATIVE – [NAME OF THE PORTFOLIO MANAGER] As the Portfolio Manager for [FUND MANAGER] for this investment, I will do my best to fulfill the goals and timeline set forth in this statement of work. I also agree to abide by the U.S. Foreign Corrupt Practices Act of 1977, which requires transparent accounting and bans bribery of officials.

Name: ________________________ ____________________________

Signature:

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[FUND MANAGER] REPRESENTATIVE – [NAME OF THE SGS GROUP CFO] As a SGS Group CFO of [FUND MANAGER], I hereby acknowledge that the [FUND MANAGER] team will do its best to fulfill the goals and timeline set forth in this statement of work. I also agree to abide by the U.S. Foreign Corrupt Practices Act of 1977, which requires transparent accounting and bans bribery of officials.

Name: ________________________ ____________________________

Signature:

-

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SAMPLE BOARD MEETING SCHEDULING EMAIL TEMPLATE Team, The upcoming Board meeting for [COMPANY] is scheduled as follows: Date: _______ Time: _______ Venue: _______ Attendees: [NAMES] Please review the tasks assigned during the last Board meeting here [PROVIDE LINK TO PRIOR BOARD MEETING MINUTES].

Please send me your agenda items, presentations, etc. for the next meeting by noon, [DATE].

Best regards, [NAME] Board Secretary

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SAMPLE BOARD MEETING AGENDA [COMPANY NAME] Board of Directors Meeting Agenda The Board of Directors of [COMPANY] will hold a Board Meeting as follows:  Date & Time: ________  Location: ________ Purpose: Establish the Board and continue momentum with current projects Outcomes:  Board members are appointed, and the board meeting schedule is set.  Board agrees to the relationship between [COMPANY] and [FUND MANAGER].  Company leadership priorities are agreed upon and set.

Agenda: This meeting will be held for the following business purposes: 1.

2.

3.

4.

5.

Opening – [NAME] a. Review the purpose and function of a Board, Board best practices, and set gender-smart Board principals and rules. b. Review Board meeting purpose, outcomes, and agenda.

Governance – [NAME] a. Appoint a gender-diverse Board, including Board Chair, Board Secretary, Board Members and Board Observers b. Set Board schedule for the coming 180 days.

Financial Management – Entire Board, [NAME] a. Discuss accounting systems and external auditor. b. Review budget and 13-week cashflow; agree on key assumptions. c. Any year end next steps. d. Set management’s plan to update [COMPANY NAME] business plan. e. Purchase of equipment – update from [NAME]; discussion regarding deployment of loan.

HR a. Discuss and refine gender-smart recruitment plan. b. Gender-equal payroll system.

Project Management a. (Purpose of Board meeting is not to get into details of operations. That should happen during separate meetings. So, during this initial meeting we will mention this rule.) b. Include any next steps from this meeting for the Board in the company’s project plan (e.g., Annual Management Plan and/or the Legend)

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SAMPLE CEO PRESENTATION Month X Planned Actual Sales Costs Profit Ending Balance

Cash

Month Y Planned

Actual

Month Z Planned Actual

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SAMPLE BOARD ETHICS POLICY [COMPANY NAME] BOARD ETHICS POLICY Introduction This Ethics Policy represents the commitment of [COMPANY NAME] (“[COMPANY NAME]” or the “Company”) and its employees, Board members, officers, and managers (collectively, “We”, “Our” or “Us”) to operate the Company with integrity and to act with integrity in interactions with one another and with people outside the Company. Each of us at [COMPANY NAME] is personally responsible for making sure that our business decisions and actions comply with this Ethics Policy.

Compliance with Local Laws and Regulations We agree that we will do business in compliance with applicable laws, rules, and regulations.

Use of Company Property and Time for Personal Benefit We will not perform non-Company work on the Company’s premises or while working on the Company’s time for our personal benefit. We will not use Company property (including telephones, machinery, vehicles, materials, equipment, resources, or proprietary information) for our own personal use or commercial gain.

Confidential Information We agree to safeguard the Confidential Information of [COMPANY NAME] and of its customers, suppliers, distributors, and brokers from unauthorized disclosure of such Confidential Information. We agree that we will continuing to abide by this commitment to safeguard [COMPANY NAME]’s Confidential Information for a period of at least five years after we leave the Company.

Confidential Information of [COMPANY NAME] includes, but is not limited to any of the following, regardless of the form such information takes or the media in which it is presented: personal identifying information, business and financial information, and data and information concerning products, processes, ingredients, formulas, algorithms, know-how, pricing, clients, suppliers, distributors, partners, employees, contractors, affiliates, marketing and strategic plans, expenses, analysis, forecasts, manuals, concepts, research, memoranda, procedures, drafts of any kind not yet published to outside parties, reports, compilations and studies. “Confidential Information” does not include information, documents or materials that (a) became publicly available without a violation of this obligation to safeguard [COMPANY NAME]’s Confidential Information, (b) are received from a third party without restriction or (c) are independently developed

by Us without reference to information received from [COMPANY NAME] or obtained in the performance of our work.

Misleading Conduct

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We will not take any action to defraud, influence, coerce or mislead another employee, officer, director or any independent auditor or lawyer of the Company with the purpose of causing the Company’s books, records, or financial statements to reflect false or misleading information. Should we discover that any of the Company’s books, records or financial statements reflect false or misleading information, whether the result of an intentional act or not, we agree to inform the Company’s General Manager and Secretary of the Board of Directors immediately.

Gifts and Payments to Government Officials We will not make a payment or give a gift to a government official of any governmental agency for the purpose of unlawfully obtaining or retaining business for the Company or for any entity or individual.

To clarify, this section prohibiting payments to government officials does not cover lawful payments of fees, fines, penalties, charges, taxes, levies, and duties which the government requires be paid pursuant to applicable laws, regulations, and rules. Such payments may include, by way of example only, a fee for a business license, valueadded taxes, notarization fees which are paid into the revenues of a government office, as opposed to a government official personally.

Commercial bribery of any nature is a violation of this Ethics Policy and applicable laws.

We will not engage in offering any form of commercial bribe, kickback, or similar payment to anyone.

Questions about this policy should be directed to either [NAME] or [NAME]

[NAME OF REPRESENTATIVE] REPRESENTATIVE]

[NAME

BOARD CHAIR

COMPANY CEO

[COMPANY NAME]

[COMPANY NAME]

[EMAIL ADDRESS]

[EMAIL ADDRESS]

[PHONE NUMBER]

[PHONE NUMBER]

OF

I agree that I have read and understood this Ethics Policy and agree to abide by it.

Name: ________________________ ____________________________ Board Position: __________________ ________

Signature:

-

Date: _______________________-

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SAMPLE BOARD MEETING MINUTES [DATE] [COMPANY NAME] Board Meeting Minutes

[TIME] [VENUE]

[COMPANY NAME] Board Meeting calledof Directors Type by: meeting: [NAME] Facilitator: Note taker: Timekeeper:

[NAME]

Attendees:



[NAME] & [POSITION]

 

[NAME] & [POSITION] [NAME] & [POSITION]



Etc.

ofBoard meeting [NAME]

Please read:

Agenda; Board Operating Principles

Purpose:

To establish the Board and continue momentum with current projects

Outcomes:

  

Board members are appointed, and meeting schedule is sets Board agrees to the relationship between [COMPANY NAME] and [FUND MANAGER} Company leadership priorities are set.

Next Steps:

Resolutions:

MINUTES Agenda item:Opening

Presenter: [Name]

Discussion:   

[NAME] presented the purpose, outcomes and agenda and explained the importance of governance in making a company successful [NAME] presented the [COMPANY NAME] – Board Operating Principles and the purpose of the Board [NAME] discussed what the CEO is expected to present during each Board meeting

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Conclusions:   

 

The Board Secretary will prepare all “Must Reads” and distribute to the Board of Directors three working days ahead of the Board meeting.

All Board members should read all “Must Reads” ahead of the Board meeting.

The CEO should prepare and report to the Board on the following topics: o General performance of the company. o Targets versus actuals analysis (i.e., variance analysis). o Strategic initiatives. o Risks and opportunities on the horizon. o Key developments (including regulatory changes, operational challenges, lawsuits, new competitors, etc.). o Financial report. o Review the budget and 13-week cashflow o Annually: Management evaluation and compensation.

Discussion during Board meetings will be high level and strategic: o Operational discussions will be done during the weekly meetings.

The [COMPANY NAME] leadership should reach out to the Board in advance whenever there is a challenge.

Agenda item:Governance

Presenter: [NAME]

Discussion:    

Appointing the Board Chair Appointing the Board Secretary Appointing Board Members Appointing Board Observers

Conclusions:       

[NAME] is elected the Board Chair by unanimous decision o The Board Chair will not have any special voting rights [NAME] is elected the Board Secretary by unanimous decision o The Board Secretary will not have any special voting rights More discussion needed on how decisions are passed in future Board Meetings, particularly considering formation documents and shareholder agreements No remuneration to the Board [COMPANY NAME] and the [FUND MANAGER] team will commit to provide quarterly investment reports to the Shareholders Ethics Policy will need to be developed and implemented Board Meetings will be held every month for the first 120 days o Board Meetings will be held on the fourth Wednesday of every month

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After the first 120 days, Board Meetings will be held quarterly

Resolutions:  [NAME] shall serve as the Board Chair  [NAME] shall serve as the Board Secretary  Board meetings will be held on the fourth Wednesday of every month for the first four months following the IAN-Juice LLC investment (November 3, 2015) and, thereafter quarterly, unless the Board deems it necessary to continue meeting more regularly.

NEXT STEPS:

Person responsible Deadline 3 days prior  Develop a summary of how voting’s will be [NAME] to next conducted, and decisions resolved Board 3 days prior  Prepare an Ethics Policy and distribute ahead of[NAME] to next the next Board Meeting Board January 6,  Start a weekly operations and marketing meeting [NAME] 2016

Agenda Operations item: Discussion:    

Presenter: [NAME]

Factory setup QuickBooks Hiring Budget and 13-Week Cashflow

Conclusions:   

 

Roofing will be constructed in the coming week o [CEO] to go to the municipality to get the factory evaluated Previous owner and [CEO] will be meeting with the Mayor to expedite the transfer of ownership [CEO] believes QuickBooks will be difficult to implement, as [COMPANY NAME] is going to be a high-inventory company o Not too many people are familiar with QuickBooks o QuickBooks is an online accounting system, and the infrastructure may not be too conducive for the platform o Proposes [COMPANY NAME] implements Peachtree Accounting System [COMPANY NAME] to use QuickBooks, as the Shareholders and all external parties may be able to review the status of the company very easily [COMPANY NAME] has three employees (two guards and one operations person) o Salaries will be paid at the end of the month

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Budget and 13-Week Cashflow will be discussed via email

NEXT STEPS:  Get the factory evaluated by the Municipality

Person responsible Deadline [CEO] Next Board Meeting [CEO] / [NAME] Next Board  Decide whether to use QuickBooks or Peachtree Meeting during the weekly meetings  Discuss the Budget and Cash Flow over email. [NAME}/ [CEO] Board will review and approve the Budget at the next meeting

Next Board Meeting

Other Information Observations:  

The meeting was held very early for the U.S. team, as they were located on the West Coast.

Discussion was very lively, and everyone showed up on time.

Resources: 

[RESOURCES REFERENCED]

Name: ________________________ ____________________________

Signature:

-

Name: ________________________ ____________________________

Signature:

-

Name: ________________________ ____________________________

Signature:

-

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BOARD MEETING MINUTES DISTRIBUTED COMPANY Board members, The [COMPANY NAME]’s Board Meeting Minutes from the Board meeting that took place on [DATE] are located here [PROVIDE HYPERLINK TO MINUTES]. The key resolutions and next steps from the Board meeting were as follows: Next Steps:

Resolutions:

Please review and reply with your comments prior to the next Board meeting. All Board members present will sign the minutes at the next Board meeting.

Best regards, [NAME] Board Secretary

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FOLLOW UP EMAIL COMPANY Board Members and Team, I hope this email finds you well. I am sure everyone is advancing on the next steps the Board discussed and agreed to during the last Board meeting held on [DATE]. I have listed them out below for your reference.

The next Board meeting will be held on [DATE]. I ask the management of [COMPANY NAME] to please send me the Board report by tomorrow, [DATE] (three days prior to the Board meeting), and I shall circulate to all Board members. Upon your review of the Board report, please let me know if you have questions and/or suggestions.

Prior Board meeting next steps and resolutions: Next Steps:

Best regards, [NAME] Board Secretary

Resolutions: