S a L T S Sail and Life Training Society S a L T S Sail and Life Training Society

“See Schedule O”

“Board of Directors Conflict of Interest Avoidance: A Board policy is in place which states the following: "Board members must opt out of any vote in which they would be in a conflict of interest with another organization, role, company, etc. There must be no self-interest or any self-interest or any conduct of private business or personal services between any Board member and the organization except as procedurally controlled to assure openness, competitive opportunity and equal access to inside information." Another policy states that Board members must: "Act honestly and in good faith with a view to the best interests of SALTS". A Board policy exists that staff members must: "Ensure that no employee is hired by his/her own family member, nor placed under their authority, with the exception of husband and wife teams that agree to serve together." This policy would prohibit the family member of a Board member being hired to a staff position. The Board policy manual is reviewed on a regular basis by the Board to ensure that the Board members are aware of these policies and disclose any conflicts of interest.”

“Compensation approval and Equality: Board policies state that the Executive Director must: Ensure that any salary/compensation changes are approved by the employee's supervisor (in the case of the Executive Director, the Board is the supervisor). Ensure that the rewards/benefits and compensation system and/or plan is typical to comparable roles in similar contexts. Propose to the Board and gain approval for an annual revenue and expense budget each fall for the financial year to follow. As a substantial portion of the annual budget is staff compensation, a wage grid is submitted to the Board on an annual basis, and each staff salary is approved by the Board along with the approval of the annual budget. In practice, our budget approval policy supersedes the policy that only the Executive Director must approve wages (except his own) and the result is that the Board approves all compensation when approving the annual budget. In keeping with the policy above, comparative data from other similar organizations and industries is provided to the Board to ensure fairness of compensation levels at our Society. A 'wage grid' Is in place to guide salary decisions for each role.”

“S.A.L.T.S. makes its governing documents, conflict of interest policy and financial statements available to the public upon request by sending and email to the Executive Director at [email protected]. S.A.L.T.S. financial statements are also made available to the public at the following url: http://www.cra-arc.gc.ca/chrts-gvng/lstngs/menu-eng.html”