California Life Sciences Association

“A qualified and authorized person shall complete the annual form 990 information return under the direction of the ceo and cfo. The return shall be reviewed by the ceo and cfo for completeness and accuracy prior to its filing with the irs. At the next finance committee meeting, the chairman of the finance committee or cfo may review the return with the finance committee.”

“Clsa does have a written conflict of interest policy and has procedures in place to identify any potential conflicts of interest e.g., policies related to the review of all contracts and documentation supporting all cash disbursements by senior executives that are familiar with the need to identify such transactions (the cfo and/or president & ceo). Clsa intends to formally monitor and enforce compliance with the conflict of interest policy. Any potential or actual conflicts identified would be reviewed by the president & ceo and cfo with assistance from third-party attorneys and discussed with the executive committee of the board of directors to determine whether an actual or potential conflict of interest exists and, if it does, how it can be resolved. A summary of these activities would be reported to the board of directors at least annually.”

“The california life sciences association (clsa) board of directors' executive committee (the committee) functions as the compensation committee for purposes of determining executive salary comparability and ensuring all of clsa's compensation practices are carried out in a responsible manner that are also compliant with state and federal regulations. The committee also has overall responsibility for evaluating the performance and compensation of the president and ceo (executive). Any changes in salary for the executive will be determined using the following process: the committee shall carefully document all of its deliberations regarding the compensation of the executive. After the committee has reviewed and documented its findings regarding relevant comparability data, the committee will make a recommendation of an appropriate salary, bonus and any other fringe benefits or prerequisites to the chair of the board. The chair of the board will recommend a salary change for approval by the board to be effective on an agreed upon date, typically the anniversary of executive's hire date.”

“Form 990 available upon request.”

“Documents not available to the public.”

“Related organization net assets -1,057. Related organization expenses -50,000.”