Policy Governance. The Parties agree the relationship between the Superintendent and the Board shall be governed by the principles set forth in Appendix A (the “Policy Governance”). Should the Board elect to materially alter the Governance Policy, such changes may be deemed by the Superintendent a Unilateral Termination by the District as such term is defined in Section 8.D except that any severance paid will be reduced by ten percent (10%). The Parties agree that a good faith discussion regarding a Unilateral Termination by the District under this section should take place prior to the Superintendent exercising any rights under this Section. Therefore, the Superintendent will provide the Board President with a written notice of his concern that the Board has materially altered its governing principles as described above thirty (30) days prior to the Superintendent terminating his employment with the District. During this thirty (30) day period the Parties will enter into good faith discussions intended to resolve the Parties’ governance concerns.
Policy Governance. 2.1 The purpose of this document is to:
Policy Governance. 2.4.1 The table below outlines the roles and responsibilities of the stakeholders responsible for governance of this Policy. Responsibility Structure Interest, Duties and Responsibilities Ownership Board of Directors The Board is responsible for policy ownership. Approval Board of Directors The Board is responsible for prior approval of this policy and any subsequent amendments thereto. Review Board of Directors, Managing Executives It is the responsibility of the Board and Managing Executives, to review this policy on at least an annual basis. Where appropriate, the policy must be adapted in view of any significant changes in the risk management system, or applicable legislation. Supervision Board of Directors The Board is ultimately responsible for the application and requirements of this Policy but delegates some functions to the Risk Committee (“RC”), Audit Committee The Audit Committee is responsible for the governance of the assessment of compliance with this Policy Risk Committee (RC) The RC is responsible for assigning and monitoring remediation of any non-compliance or other findings by the Audit Committee. Operational Implementation The Executive Committee (“EXCO”) EXCO are responsible for operational implementation of the policy. EXCO are responsible for understanding the principles of this policy and ensuring adequate information is made available to them to ensure they are confident that Abacus governance activities are being managed in-line with the requirements as set out by this policy.
Policy Governance. 2.5 Policy governance for CARILEC is provided by a Board of Directors which comprises of not less than three (3) and not more than fifteen (15) members. The majority of Directors are elected from among the Full Members with one Director elected by the Associate Members to represent them and an Executive Director who administers the Secretariat located in Saint Lucia.
