Laserfiche WebLink
TTAf,fLNENT °C" <br />Kaiser Steel Resources, Inc. <br />November 16, 1988, Minutes <br />Page -13- <br />MacDonald, and Bruce Hendry, with the <br />PBGC representative .to serve as an <br />alternate, all to serve in such capacity <br />for the ensuing year and until their <br />successors are designated; and it is <br />FURTHER RESOLVED, that a three-member <br />Benefits and Compensation Subcommittee <br />is hereby created and the Board hereby <br />delegates all authority to such Subcom- <br />mittee with respect to regulatory and <br />compliance matters for Company employee <br />benefit plans and all updating of all <br />Company employee benefit plans at <br />existing historical cost levels; and it <br />is <br />FURTHER RESOLVED, that such Benefits and <br />Compensation Subcommittee shall serve in <br />an advisory capacity for recommendations <br />for new or existing employee benefit <br />plans above historical cost, with <br />respect to all recommended officer <br />bonuses or increases in compensation, <br />with respect to all director <br />compensation recommendations, and any <br />new stock option or stock purchase plans <br />or other employee benefit plans; and it <br />is <br />FURTHER RESOLVED, that the following <br />Directors shall serve as members of the <br />Benefits and Compensation Subcommittee <br />for the ensuing year and until their <br />successors are duly appointed: Nick <br />Rickard as Chairman, John Kluesener, and <br />Vern Maxie, and Tom Rabone as alternate. <br />Chairman of the Board <br />At approximately 4:15 p.m., the Board met in executive <br />session and reconvened at approximately 4:30 p.m. Upon <br />reconvening, the following resolution was moved, seconded, <br />and unanimously adopted: <br />RESOLVED, that Richard E. Stoddard is <br />hereby designated an ex officio, non- <br />voting member of the Board of Directors, <br />