Park University

“THE FOLLOWING SIGNIFICANT CHANGES WERE MADE TO THE BYLAWS: - Change of Alumni Association Liaison Trustee to be a Park Trustee that serves as their liaisoN (instead of the Past President of the Alumni Association serving on Parks Board). - Duties of the President were modified to include: The President will select the four (4) members of the Retirement Plan Investment Committee, of which two (2) members will be University employees who are full-time Faculty members; and two (2) members will be University employees who are staff members. Trustees may serve on the Retirement Plan Investment Committee if they so desire, but there is no obligation for a Trustee to serve on the Committee. (Removal of requirement of the 403(b) Retirement Plan Subcommittee of the Audit Committee.) - Change of Name and purpose of the Universtiy Relations and Development Committee to the Marketing and Advancement Committee. The new purpose of the the Marketing and Advancement Committee will be to assist the Board in fulfilling its marketing and advancement responsibilities, including recommendations to the Board regarding: (1) increasing brand awareness to grow enrollment and increase philanthropic fundraising, (2) business and channel development, (3) community involvement, (4) cultivation of existing and prospective donors, and (5) generate and protect revenue and relationships between the University and third parties to enhance resources available to help the University achieve its priorities. The Marketing and Advancement Committee will accomplish its purpose utilizing both institutional and industry best practices. - Removal from the Audit Committee's purpose the monitoring of the University Retirement Plan - Removal of the Park University Retirment Plan subcommittee of the Audit Committee”

“The information for the form 990 is gathered and prepared by the university controller and then sent to an independent cpa firm for preparation of the form 990. A draft of the form 990 is then reviewed by the university controller, chief financial officer, and a member of the audit committee. Upon resolution of any comments or concerns, the form 990 is placed on the university's secure, confidential, electronic "board portal" for review and comment by all members of the audit committee. Upon consensus, the form 990 is approved for filing with the irs and all board trustees are notified that the form 990 has been posted for their information on the university's secure, confidential, electronic "board portal". The board portal is the channel utilized by the university to provide management and governance information to the board.”

“The board of trustees ("board") of park university has adopted and regularly monitors the implementation, periodic review, and updating, of the park university conflict of interest policy ("policy"). At least once each year, each "interested person" (as defined in the policy), university officers, university trustees, and key employees of the university are required to file a park university conflict of interest disclosure statement ("disclosure statement"). In addition, interested persons are required to file updated disclosure statements at anytime potential or actual conflicts of interest arise. When new trustees are elected to the board and when employees become interested persons, each is required to file a disclosure statement. Attorneys in the office of general counsel collect and review the nature of the conflicts and related information reported on the disclosure statements. The board of trustees has delegated to the audit committee the authority to take actions described below. The audit committee initiates an inquiry into whether a conflict of interest exists. An interested person who is the subject of an audit committee conflicts inquiry may present information relevant to the existence of a conflict of interest. However, the interested person may not participate in the deliberations of the audit committee, and even if the interested person is a member of the audit committee, the interest person may not participate in the deliberations of the audit committee that are related to the conflict inquiry, and may not vote on any issue related to the conflict inquiry, including the existence of a conflict of interest or any actions to be taken by the audit committee, the executive committee or the board as a result of the existence of a conflict of interest. The chair of the audit committee keeps the board chair, the executive committee, the trusteeship committee, the board of trustees and the vice-president & general counsel apprised of the status of conflict-related inquiries and other conflict-related matters that are within the purview of the audit committee. The audit committee chair, board chair, and other trustees regularly seek legal counsel from the vice president & general counsel's office regarding conflicts related issues. No trustee (member of the board of trustees or the executive committee) who has a conflict of interest may participate in deliberations or any decision making related to that conflict of interest.”

“The board executive committee functions as the university's "authorized body" with regards to the compensation of the university president (who is the ceo and top managmeent official of the university), and the compensation of university officers. The executive committee has a compensation advisory subcommittee that focuses on these matters, assists the executive committee, and makes recommendations to the executive committee, but makes no decisions regarding executive compensation matters. No trustee (member of the board of trustees or the executive committee) who has a conflict of interest with respect to a compensation arrangement may participate in compensation deliberations or in any decision making of the executive committee that are related to a conflict of interest of the trustee. The executive committee and the president, with assistance from the vice president of finance and administration and the vice president & general counsel obtain comparable compensation information from a variety of sources, including the most current administrative compensation survey produced by the college and university professional association for human resources ("cupa survey") and the joint compensation and benefits provision of legal services survey report ("nacua survey") periodically compiled by the national association of college and university attorneys. The executive committee also considers compensation data that may be available from other sources such as the chronicle of higher education. The executive committee uses that data in its periodic compensation deliberations. The cupa survey includes data regarding compensation of persons in functionally comparable positions at similarly situated organizations. The nacua survey includes data regarding compensation of attorneys in functionally comparable positions at similarly situated universities. The president of the university makes recommendations to the executive committee regarding the compensation of vice presidents of the university and may participate in deliberations related to compensation of university employees whose compensation is considered by the board chair, the executive committee and/or the board of trustees. Deliberations of the executive committee regarding executive compensation are contemporaneously documented and records regarding executive compensations arrangeemtns are maintained.”

“Compensation review was performed by the human resource director by obtaining comparative compensation by like institutions in 2016 and was reviewed by the president of the university. See schedule o, part vi line 15a for compensation process for other officers.”

“The park university ("university") articles of incorporation and amendments thereto are publicly available in the office of the missouri secretary of state. The university entertains requests for copies of the conflicts of interest policy. The university provides financial information about the university to the public via its form 990.”