Sematech Inc

“Sematech is a membership corporation. As such, it is owned by its members.”

“Per the terms of their membership agreements, each member is allowed one voting member on sematech's board of directors, so each member has a voting director on the board of directors. Also, the research foundation of cnse and fuller road mgmt corp (representing suny) each have a representative on the board of directors. Finally sematech's ceo is also a voting member of the board of directors. The chairman of the board of directors is not allowed to vote.”

“Sematech's board of directors has a compensation committee and an audit and finance committee (and in certain instances, special committees are formed -e.g., to search for a new ceo). Historically, these committees have not kept minutes of their meetings. The audit & finance committee typically meets just before a regularly scheduled board meeting. The chair of the committee then reports to the board on the outcome of the committee meeting and the minutes of the board meeting reflect that committee report. The compensation committee sets performance goals, conducts performance reviews and decides salary and bonus levels for executive management. Details of these matters are best recorded in the confidential personnel files of the individuals involved, rather than in meeting minutes.”

“Sematech's 990 is reviewed by the coo with input from staff.”

“The ceo's pay is benchmarked by the director of human resources and reviewed and approved by the chairman and compensation committee. All other key employees are benchmarked by human resources and reviewed and approved by the ceo.”

“Governing documents, conflict of interest policy, and financial statements are not made available to the public.”

“I. In cooperation with our members and with the suny polytechnic institute, sematech developed a leading-edge test chip for the development and evaluation of chemical-mechanical planarization (cmp) and other critical processes for advanced chip manufacturing. This test chip, known as adk14, is available to be used by members and other partners to develop, fingerprint and evaluate new processes, materials and device architectures for advanced, finfet-era technology nodes. Ii. Sematech entered into strategic alliance with exogenesis corporation to investigate, establish and execute new ventures relating to exogenesis corp.'s accelrated neutral atom beam technology within the field of integrated circuit manufacturing. Iii. Sematech began a program to investigate the fabrication of devices for making scalable, general-purpose quantum computers (known as "qubits") using a commercial grade mainstream semiconductor fabrication line. We demonstrated the first viable qubits ever reported using optical lithography and 300mm wafers. This program will seek to explore the benefits of using a modern, well-controlled, well understood fabrication line to improve the process for making one important class of qubits and as a vehicle to elucidate underlying scientific and engineering questions related to quantum computing.”

“I. In the first quarter of 2015, sematech successfully completed our program to develop best known methods (bkms) for fabricating defect-free euvl mask blanks and transferred the developed processes and know-how to industry members. Ii. Sematech's manufacturing and environmental safety and health (esh) programs held numerous forums, workshops and other activities to facilitate best-practices sharing among members throughout 2015. No forums or workshops are planned in 2016.”

“The process of selecting an independent accountant and oversight of the review of the financial statements has not changed from prior years.”