Other Notes home »

Board of Directors or Company management retreats may be necessary from an educational, strategic planning or other business purpose. Board and management education and planning is an important process in being a highly effective company. Costs for these events will be maintained in a reasonable manner and will be approved in advance by the Chief Executive Officer. Spouses may travel to Board or management retreats with Company attendees, provided that such retreat locations are readily accessible without excessive travel costs. The Company will be financially responsible for covering the expenses incurred in connection with spouse travel to conferences or sponsored events.

AVIATION SERVICES

Transportation for Company employees to outlying locations, including conferences, business development purposes, and merger and acquisition due diligence and general bank business, should be conducted in the most cost-effective manner possible for the Company. Modes of transportation to be used may consist of vehicle, commercial air or rail service. The selection of transportation services will factor in cost, efficiency and timeliness of travel. Private air services are not allowed without the prior written approval of the Chief Executive Officer or the Board of Directors.

ADMINISTRATION

The Chief Financial Officer of the Company is responsible for the day-to-day administration of this Policy, and the Chief Executive Officer of the Company is accountable for overall adherence to this Policy and must approve any exceptions. Strict adherence to this Policy is mandated for all Company employees. Violations of this Policy shall be promptly reported to the Board of Directors. Following any approval of private air services by the Board of Directors or  the Chief Executive Officer, the Chief Executive Officer shall certify that such approval was obtained and such certification shall be maintained in the Company’s corporate records. This Policy, and any amendments hereto, shall be posted on the Company’s internet website and provided to the Treasury.

Page 2 of 2 | Previous page