Ui Labs Inc

“Board committees: the board shall establish an executive committee and an audit committee, and may by resolution designate one (1) or more additional board committees (collectively, "board committees"). All board committees shall consist of three (3) or more committee members. The executive committee shall consist solely of directors. A majority of the members of any other board committee shall be directors. Board committee members shall be appointed by, and shall serve at the pleasure of, the board of directors. However, all board committee appointments shall be reconfirmed at least annually. Either on its own initiative or upon recommendation by a board committee. The board by resolution may establish a statement of purpose, duties and responsibilities for any board committee not inconsistent with the bylaws. Executive committee: the executive committee shall consist of the chair and vice-chair of the board, along with at least one (1) other director. The executive committee has the authority to act on behalf of the board in conducting the affairs of the corporation between meetings of the board of directors. The executive committee provides direction, counsel and oversight to the ceo in the conduct of the corporation's day to day activities. The executive committee shall also develop the corporation's annual budget (including plans for the funding thereof), which shall be presented to the full board for approval, and shall monitor the corporation's financial performance relative to any such budgets so approved.”

“The following amendment to the Bylaws of the Company was made on September 21, 2020. - ARTICLE II DIRECTORS, Section 2.1 General Powers and Duties was amended to add an additional subparagraph: - "2.1.12 Review the Corporations financial statements and IRS Form 990 and take such action as is appropriate."”

“Form 990 review process the irs form 990 is prepared by an external public accounting firm. Internal members of finance provide the firm all information and then review the draft prior to dissemination to the audit committee. The audit committee then reviews the draft, and prior to filing, it is distributed to the full board of directors for approval. Each member of the board completes and signs a form indicating their receipt and review of the 990.”

“Conflict of interest policy monitoring & enforcement ui labs issues to its board members, officers, management, and staff the corporation's conflict of interest policy on an annual basis. All board members, officers, management, and staff must acknowledge their agreement to comply with the conflict of interest policy through signature. All conflicts of interest disclosed will be reviewed by the chair. If further action needs to be taken, the issue is brought before the board of directors. If a potential conflict with a specific potential transaction appears, ui labs will call a special meeting of the board of directors where a determination will be made whether to proceed with the transaction. Any related person will not be present or participate in deliberations, discussions or vote in connection with the transaction.”

“Compensation of the Chief Executive Officer and the Senior Leadership Team is determined by the Board of Directors of the company after review, approval and recommendation of the Compensation Committee of the Board of Directors, as follows: Compensation Committee Purpose: The Compensation Committee of UI LABS is charged with the responsibility to (1) recommend to the full board on an annual basis the appropriate compensation for the UI LABS Chief Executive Officer (CEO) and Senior Leadership Team (SLT), and (2) review and approve management incentive compensation policies and programs. The Compensation Committee is created by a board resolution, and its composition shall be reviewed annually and approved by the full board. Membership: The Committee shall be composed of at least three (3) members who are independent of and not compensated by UI LABS. If the Chair of the UI LABS Board is not a member, the Chair may attend meetings of the Committee and vote on Committee actions. No member of the Compensation Committee will be a staff member, the relative of a staff member, or have any relationship with staff that could present a conflict of interest.”

“How documents are made available to the public: the organization's governing documents, conflict of interest policy, and financial statements may be made available only upon request and with the approval of the organization.”

“Organization's mission, continued. Of defense, mxd equips u.s. Factories with the digital tools, cybersecurity, and workforce expertise they need to begin building every part better than the last. As a result, our nearly 300 partners increase their productivity and win more business.”

“ORGANIZATION'S MISSION, CONTINUED. 1. PRINCIPALLY, TO ACTIVELY AND CONTINUOUSLY DIRECT IN THE CONDUCT OF SCIENTIFIC RESEARCH AND TECHNOLOGY RESEARCH AND TECHNOLOGY DEVELOPMENT IN CONJUNCTION WITH ONE OR MORE ACADEMIC RESEARCH INSTITUTIONS WITHIN THE MEANING OF 170(B)(1)(A)(III) OF THE CODE; 2. TO PROMOTE, CONDUCT AND ENHANCE INTERDISCIPLINARY RESEARCH AT THE INTERSECTION OF COMPUTING, INFORMATIONAL SCIENCES, ENGINEERING, LIFE SCIENCES, CREATIVITY AND INNOVATION AT AND IN CONJUNCTION WITH MANUFACTURERS, TECHNOLOGY COMPANIES, AND ACADEMIC RESEARCH INSTITUTIONS; 3. To provide the Chicagoland and Illinois community, as well as partners and guests from across the United States, facilities, resources and educational opportunities in advanced manufacturing, cybersecurity, and related scientific applications as deemed fit by the board of directors; 4. TO SERVE THE NATIONAL MANUFACTURING COMMUNITY BY FOSTERING WORKFORCE DEVELOPMENT, ENTREPRENEURIAL ACTIVITIES, CIVIC ENGAGEMENT AND OUTREACH FOCUSED ON THE APPLICATIONS IN (3); 5. TO FACILITATE PRACTICAL APPLICATION OF DISCOVERIES ARISING OUT OF ITS RESEARCH, DEVELOPMENT, AND DEMONSTRATION THROUGH PUBLIC-PRIVATE PARTNERSHIPS WITH FOR-PROFIT BUSINESS ENTITIES AND OTHER NON-PROFIT INSTITUTIONS; AND 6. TO ENGAGE IN ANY OTHER LAWFUL ACTIVITIES IN FURTHERANCE OF THE ABOVE PURPOSES.”

“Effective July 1, 2019, City Tech spun out from UI Labs to form a separate not for profit, as approved by UI Labs Board of Directors. UI Labs was renamed to UI Labs dba MXD USA, as relates to its legal entity. In the public sphere, it is known as MxD, which stands for "Manufacturing times Digital."”

“Other changes in net assets or fund balances: city tech net asset transfer $284,992 loss on operations from discontinued component $(75,480)”