Page 17 - 2024 April report

COMPENSATION COMMITTEE MINUTES (DRAFT)
March 17, 2024
Members Present: I. King Jordan, Chair; Bea Awoniyi, Mike Miller, and Sherry Salway Black. Angelique Albert joined as a new member.
Others: Bobby Krause, CEO; Tommy Pence, CFO The meeting was called to order at 3:05 p.m.
1. Approval of Minutes
The minutes of the November 14, 2023 meeting were approved as circulated.
2. Business arising from the minutes.
There was no business arising from the minutes.
3. Board Chair Compensation
Chair Jordan briefly outlined why he had invited the CEO and CFO to the meeting. The CEO then shared the background on this item and the CFO gave an update on the recommendations from Templeton. The Committee then discussed the change in classification of the Board Chair’s medical insurance and reimbursements to compensation as he is no longer an employee of JSF but a consultant. This will require an updated agreement with the Board Chair. The Committee also discussed the overall risk assessment and compliance the staff and Audit and Risk Committee are continuing to explore.
The Committee approved a motion to recommend the board approve a revised agreement with the Chair.
4. Updated health insurance costs
The 2024 premiums were not available for the December meeting, so the Committee had approved the costs as available at that time. The final numbers were provided at the March meeting with a note that the main changes were the removal of the costs for the Board Chair and the addition of the costs for the CFO.
The Committee approved the costs. 5. Other Business
There was no other business.
The CEO and CFO left the meeting at 3:40. At the request of the Committee Chair, the committee went into executive session. The Committee came out of executive session and adjourned at 3:50 pm.
The next scheduled meetings: Sunday, September 8, Spokane, WA Respectfully submitted March 26, 2024
Sherry Salway Black I. King Jordan Recording Secretary Chair
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