Expectations of Management

The board of directors must determine its expectations of senior management and ensure that senior management understands these expectations.  The board must approve the corporate objectives which the Chief Executive Officer is responsible for meeting and assess the Chief Executive Officer against these objectives.

As part of the ongoing process of monitoring the performance of management, the board must receive operational updates on each business unit of the Company at each board meeting.  These updates will compare actual performance to the Company’s annual forecast and include discussion of all significant variances from the forecast.