Ratification of Expense Reimbursement and Discount Policy

[Phokaioglaukos]

Betsi Lyle, a longstanding member of the Club, raised a concern at the September member meeting that the adoption by the Board of the Expense Reimbursement and Discount Policy at the September Board meeting may have been flawed because the Policy granted discounts for DE events to all members of the Board. The Club’s Conflict of Interest Policy requires a Board member with a conflict to abstain from voting to approve the conflicting transaction or arrangment. When the Board approved the Expense Reimbursement and Discount Policy no members abstained and all would be eligible to benefit from the DE discount. To address this concern, the Board ratified and confirmed the Expense Reimbursement and Discount Policy at its meeting last night by a unanimous vote of only those members of the Board who voluntarily gave up any discount for DE events as an Officer. All members of the Board who remain eligible for the Officer discount abstained.