Northern Virginia Technology Council Inc

“The executive committee shall consist of the chairman, vice-chairmen, president, general counsel, secretary, treasurer, public relations advisor and other directors selected by the board of directors. During the intervals between meetings of the board of directors, subject to such limitations as may be prescribed by resolution of the board of directors, the executive committee shall have and may exercise all of the authority of the board of directors, including the power to authorize the seal of nvtc to be affixed to all papers that may require it, but shall not have the authority to amend the articles of incorporation, to adopt a plan to merger or consolidation, to approve the sale, lease, exchange or other disposition of all or substantially all of the property and assets of nvtc, to approve the voluntary dissolution of nvtc or to amend the bylaws of nvtc. Furthermore, the executive committee shall have and may exercise all of the authority to act on behalf of the board of directors in matters related to the nvtc foundation. The executive committee may also formulate and recommend to the board of directors approval of general policies regarding the management of the business and affairs of nvtc.”

“The corporation shall have five classes of members, which shall be designated class i members, class ii members, class iii members, class iv members, and students (collectively "members"). Class i (technology company). Class i members shall be companies or identified subdivisions of companies primarily engaged in the research, development, manufacture or rendering of advanced technological products or services. All class i members must be approved by the board of directors. Class ii (associate member). Class ii members provide services to the technology business community, including but not limited to legal, financial, training and consulting assistance. Class iii (non-profit affiliate member). Class iii members are non-profit organizations. Class iv (government affiliate members). Class iv members are federal, state and local government agencies and subdivisions.”

“The members shall elect a board of directors at the annual meeting.”

“The organization reviews the form 990 prepared by the organization's public accounting firm. Any questions are addressed and resolved. The coo (or the controller and hr administrator) then reviews the return with the nvtc treasurer prior to its signing by the president and ceo or the treasurer and filing. A complete copy is provided to the governing body before filing.”

“All possible conflicts are brought to the attention of the executive committee or the board of directors to investigate the situation and determine how the council should proceed.”

“Independent persons and comparability data are utilized when setting compensation. The contract and performance evaluation is periodically reviewed and renegotiated with the current chairman of the nvtc board of directors. The contract was renegotiated and signed on march 1, 2012. The nvtc finance committee obtains a full evaluation of the market value for all nvtc employee positions and industry comparisons. This was completed by nvtc's coo, using national industry standard references. Additionally, job posting and salary requirements were reviewed using local leading industry resources for association professionals. The comparison survey of nvtc positions and salary recommendations are then provided to the commitee for review. This process was last completed in january 2012. On an ongoing basis, the initial overall comprehensive review will be conducted by internally with the coo determining compensation levels using the above mentioned current industry salary resource standards and comparable data annually during the budgetary process. The compensation recommendations are either approved or adjusted by the president & ceo and the nvtc executive committee of the board of directors.”

“The council will provide forms 1023, 990 and 990-t, governing documents, conflict of interest policy, and financial statements to the public when requested.”