[Board] Three issues to vote on

[Sean Egan]

On 11/21/06, Ethan Blanton <elb at psg.com> wrote:
> For the sake of correctness, I would like to point out that the final
> wire fees were only $25, due to the awesomeness of our account.
> However, I would suggest that rather than upping this amount, we say
> something to the effect of:
>
> Financial fees of unknown or unspecified amounts incurred through
> board-approved transactions at financial institutions with which the
> Corporation has a partnership are to be considered approved at the
> time of the approval of the transaction, providing that the financial
> fees do not exceed $50 or 5% of the transaction cost, whichever is
> lesser.  Financial fees exceeding this limit must be approved by the
> board of directors before the transaction can be executed.

I'm ok with this. Let's say the new Incidental Expenses proposal is:
Incidental Expenses Proposal

This proposal is submitted for a vote to the board of directors of
Instant Messaging Freedom, Inc.

Abstract

Orders and resolutions of the board often result in incidental
expenses unforseen in the original proposal, including office supplies
such as envelopes and postage. It is proposed that officers be duly
authorized to charge such expenses to the Corporation.

Proposal

The board shall authorize incidental expenses not to exceed $20 to be
charged as needed by officers of the corporation to enact orders and
resolutions of the board of directors. These incidental charges shall
include office supplies such as paper, envelopes, and postage.
Directors who make such charges are required to report their charges
to the Treasurer, who will record the expense and reimburse the
officer as appropriate.

Financial fees of unknown or unspecified amounts incurred through
board-approved transactions at financial institutions with which the
Corporation has a partnership are to be considered approved at the
time of the approval of the transaction, providing that the financial
fees do not exceed $50 or 5% of the transaction cost, whichever is
lesser.  Financial fees exceeding this limit must be approved by the
board of directors before the transaction can be executed.


Luke, please make a note of this, and mark my vote as Yes.