Pmmi Education & Training Foundation

“The foundation has one member: the packaging machinery manufacturers institute (pmmi).”

“ACCORDING TO THE PMMI FOUNDATION'S BYLAWS, The Board of Directors of the Foundation shall consist of the members of PMMI's Executive Committee and the Chairperson of PMMI's Education Committee.”

“PMMI, through its Board OF Directors, has full voting rights to amend the Foundation's Articles of Incorporation and its Bylaws.”

“There are no committees with the authority to act on behalf of the governing body.”

“The PMMI Education & Training Foundation's Form 990 is reviewed by members of PMMI'S executive committee and appropriate staff-persons prior to filing.”

“The foundation requires annual disclosures by all board members, and such disclosures are reviewed for compliance and to ensure recusal or other appropriate conduct by a conflicted director.”

“CEO, EXECUTIVE DIRECTOR OR TOP MANAGEMENT: PMMI'S PRESIDENT/CEO AND CHIEF FINANCIAL OFFICER ARE ALSO THE PRINCIPAL OFFICERS OF PMMI FOUNDATION, IN THEIR RESPECTIVE POSITIONS. NEITHER ARE PAID DIRECTLY BY PMMI FOUNDATION. FOLLOWING IS PMMI'S PROCESS FOR DETERMINING COMPENSATION FOR THESE INDIVIDUALS: THE RESPONSIBILITY FOR ASSESSING THE PRESIDENT/CEO'S ANNUAL PERFORMANCE AND DETERMINING HIS ANNUAL PAY CHANGE IS THAT OF THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS (THE COMMITTEE). THE COMMITTEE USES A COMBINATION OF GOAL SETTING AND COMPETENCIES TO EVALUATE PERFORMANCE. THE ANNUAL PERFORMANCE CYCLE IS 12 MONTHS WITH TWO FORMAL MEETINGS EACH YEAR - A PERFORMANCE FEEDBACK/PLANNING MEETING AND A MID CYCLE REVIEW. THE PERFORMANCE CYCLE COVERS A 12-MONTH PERIOD BEGINNING ON THE EMPLOYMENT ANNIVERSARY DATE EACH YEAR. THE CYCLE PROVIDES A CONTEXT FOR ALL WORK-RELATED PERFORMANCE AND BEHAVIOR. THE ACTIVITIES THAT OCCUR WITHIN THE CYCLE - PLANNING, OBSERVING AND REVIEWING PERFORMANCE, AND PROVIDING FEEDBACK - ARE ONGOING. THE PRESIDENT/CEO DEVELOPS A PERFORMANCE PLAN WHICH IS SUBMITTED TO THE COMMITTEE FOR REVIEW AND APPROVAL. THE CHAIR OF THE EXECUTIVE COMMITTEE (THE CHAIR) COMMUNICATES WITH THE PRESIDENT/CEO PERIODICALLY THROUGHOUT THE PERFORMANCE PERIOD TO DISCUSS THE ORGANIZATION'S RESULTS AND ADJUST THE PLAN AS NECESSARY. THE FORMAL EVALUATION BETWEEN THE PRESIDENT/CEO AND THE COMMITTEE OCCURS AT THE END OF THE ANNUAL CYCLE. THE CHAIR IS RESPONSIBLE FOR MEETING WITH THE PRESIDENT/CEO TO REVIEW HIS PERFORMANCE RESULTS AFTER COLLABORATION WITH THE COMMITTEE. THE FORMAL EVALUATION INCLUDES SUMMARIZING AND DOCUMENTING THE PRESIDENT/CEO'S PERFORMANCE OVER THE PAST 12 MONTHS. The Committee accesses resources to review the external competiveness of the President/CEO's compensation package in the context of those provided to executives in comparable trade associations based on industry type and annual operating budgets. Data is collected regularly to assess the external competiveness of compensation for the key employee positions. This data includes analyzing job content and benchmarking compensation for similar positions in the various labor markets in which the organization competes for executive talent. This information is utilized to obtain current market pay data across these markets for use in establishing the internal compensation structure. ADDITIONAL BENCHMARKING DATA IS AVAILABLE TO THE COMMITTEE FROM OTHER SOURCES THAT HAVE COMPLETED A MARKET ANALYSIS BASED ON SURVEY RESULTS FROM DATA FROM COMPARABLE ORGANIZATIONS IN THE TRADE ASSOCIATION INDUSTRY. OTHER OFFICERS OR KEY EMPLOYEES: THE HIRING AND DECISION ON KEY EMPLOYEE COMPENSATION ALSO GOES THROUGH PMMI'S PROCEDURES, AS PMMI FOUNDATION HAS NO EMPLOYEES OF ITS OWN. PMMI'S PROCEDURES ARE AS FOLLOWS: THE RESPONSIBILITY FOR ASSESSING THE ANNUAL PERFORMANCE AND PAY CHANGES FOR KEY EMPLOYEES IS THAT OF THE PRESIDENT/CEO. THE PROCESS INCLUDES A COMBINATION OF GOAL SETTING AND COMPETENCIES TO EVALUATE PERFORMANCE. The performance cycle covers a 12-month period beginning on the employment anniversary date each year. In addition, each calendar year, individual goal setting occurs after the priority goals for the organization have been documented. The goals of the key employees are in support of the overall goals of the organization. Collectively, these two processes provide the context for all work-related performance and behavior. The activities that occur within these cycles -planning, observing and reviewing performance and providing feedback are on-going. The performance plan for key employees is addressed both in the performance appraisal document and during the goal setting process as appropriate and are reviewed and approved by the CEO. Formal evaluation between the key employees and the President /CEO occurs both at the end of the annual cycle and the calendar year cycle and includes summarizing and documenting the key employees? performance over each 12 month period. The Co”

“The foundation does not generally make these documents available to the public.”

“The audit oversight process has remained unchanged from the previous year.”