Vystar Foundation Inc

“The officers of the foundation are also employees of vystar credit union.”

“There shall be an executive committee appointed by designated representatives of vystar credit union consisting initially of the three (3) directors identified in the articles of lncorporation that may be, but need not be, composed of a group including the president/chairman, vice president/treasurer, and secretary. The executive committee shall have the authority to act on behalf of the board in between regular meetings of the board on matters approved by the board for action by the executive committee. The executive committee shall have all the powers of the board, except that it shall not have the power to amend or repeal the bylaws, to appoint or remove directors, dissolve the corporation, change the purpose of the corporation, or amend the articles of incorporation, without approval of the board. It is contemplated that subject to further requirements/restrictions as provided by the board of directors, membership in the foundation shall generally be open to any individuals, businesses and/or associations that support the purpose of the foundation. The qualifications for such membership shall ultimately be in the discretion of the board of directors and vystar credit union.”

“Officers, other than the initial officers, shall be appointed by the board at the annual meeting. Officers shall be appointed for a term of one (1) year or until their respective successors have been duly selected, appointed and qualified, whichever is later, unless prior thereto the officer dies, resigns, is appointed to another office within the corporation, or is removed from office. Members of the executive committee are exempt from term limits, in the discretion of the board. An officer or a director may be removed from the board by a two-thirds (2/3) vote of the entire board at any regular meeting or a special meeting of the board called expressly for that purpose.”

“To be eligible for nomination, individuals must be vetted by designated representatives of vystar credit union. The vetting criteria for nomination to the corporation board will replicate the vetting criteria for nomination to the vystar credit union board of directors.”

“The 990 is circulated to members of the executive committee of the board of directors for review and approval prior to submission to the irs. A full copy of the 990 is then distributed to the full board.”

“Coi policy is reviewed and signed annually by all members of the board. Prior to grant review and recommendations for grant approvals, board members certify (verbally) that he or she has no actual conflict of interest. If they do, they recuse themselves from reviewing or voting on organization where conflict exists.”

“These documents will be made available upon request”