It is recommended that the board approve the minutes from the October 23rd, 2023 meeting with any suggested modifications or changes.

Governance Committee Met and discussed bylaws and working committees. Bylaw changes to be considered include requiring a minimum of 7 board members to comply with state law, as well as language to remove board members who do not consistently attend meetings. 

ARTICLE IV – Section (5) – additional language to be added at end of paragraph:

A Director may be removed at any time if the Director fails to attend (or makes it known that they will fail to attend) at least two-thirds (2/3) of the regular meetings of the Board of Directors scheduled in a Fiscal Year, by a simple majority vote of the Board of Directors then serving. Notwithstanding the above, a Director may not be removed by a simple majority vote of the Board of Directors for failure to attend a certain number of regular meetings in a Fiscal Year if the Board of Directors previously agreed to grant an exemption to such Director from the requirement to attend at least two-thirds (2/3) of the regular meetings of the Board of Directors for the Fiscal Year in question.

It is recommended that the FAME Board of Directors approves changing the signatories on the Merrill Lynch Endowment Management Account to include the CEO, Steve Corbett and the Board Chair, Lourdes Moran. Resolution is attached.