Page 26 - ANNUAL REPORT FINAL

Acts, Deeds, And Contracts 2020-2021

Regular Board Meeting on 17 December 2020

• The Board authorized GM Salvador to negotiate with Aikido for the increase in the rental fees and
to finalize the terms and conditions of the agreement.
• The Board approved the upgrading of internet connection of 50mbps for P75,999.00/month to
P90,000.00/month for 100mbps as offered by Converge.
• The Board also approved the procurement of the Cisco switch in the amount of P70,000.00.

January 21, 2021 Regular Board Meeting

• The Board resolved to authorize the Club to renew and use its loose-leaf books of account with the
Bureau of Internal Revenue (BIR) upon the recommendation of Management and authorize Mr.
Romnick Martinez to transact with the said agency for this purpose.

February 18, 2021 Regular Board Meeting

• The Board approved the recommendation of the Membership and House Committees imposing a
5-day suspension of availment of member’s privileges against Mr. Nathan Wang for violation of the
Club’s House Rules.

• The Board of Directors approved the recommendation of the HR Committee for the Club to avail
itself of the HMO coverage policy for the Club’s employees being offered by Maxicare Healthcare
Corporation (Maxicare).

March 18, 2021 Regular Board Meeting

• The Board resolved to establish a system for conducting an annual review of the performance of the
General Manager and the Comptroller for purposes of determining any merit increase.

• The Board resolved to comply with the SEC circular regarding the submission of reportorial
requirements with the SEC through Online Submission Tool (OST) and appointed the Club’s
Comptroller, Mr. Ronaldo C. Limbo as the authorized signatory and the Club’s Accounting Supervisor,
Ms. Cleofe Rosito, as the designated filer for this purpose.

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