Electric Tankless Water Heaters
Organization Structure Board of Directors
The Company’s Board shall be comprised of not less than five (5) or more than eleven (11) members. At all times there must be a majority of independent directors comprising the board. Please refer to this handbook to determine whether any particular director meets the “independent” qualifications. Other than officers of the Board that are elected for specific three (3) year terms, all other directors are re-elected on an annual or bi-annual basis so as to ensure continuity.
The Board in addition to being comprised of several members are also administered and guided by officers of the board of directors. These positions are three (3) year renewable terms and are elected by all directors to each respective office. These board positions include the following:
1. Chairman: The Lead director who calls and presides over meetings of the Board and has the powers given under Nevada Statute and the company’s Articles.
2. Secretary: The director who is responsible for recording the minutes of all meetings of the Board and its respective committees.
3. Treasurer: The director who is responsible for overseeing all financial matters of the company and reporting same to the Board. The Treasurer shall chair all meetings of the Audit Committee.
Board of Directors Organization Chart
Shareholders
Board of Directors
(5-11 members-majority to be independent directors)
Chairman
| Reports to: | Shareholders |
| Direct Reports: | Secretary and Treasurer |
| Liaison: | President |
| Job Description: | Board of Directors |
| Review and Comp: | Corporate Governance Comm. |
| Term: | 3 Years Renewable |
Secretary
| Reports to: | Shareholders |
| Direct Reports: | Secretary and Treasurer |
| Liaison: | President |
| Job Description: | Board of Directors |
| Review and Comp: | Corporate Governance Comm. |
| Term: | 3 Years Renewable |
Treasurer
| Reports to: | Shareholders |
| Direct Reports: | Secretary and Treasurer |
| Liaison: | President |
| Job Description: | Board of Directors |
| Review and Comp: | Corporate Governance Comm. |
| Term: | 3 Years Renewable |
Audit Committee:
(3 Independent Directors)
To Monitor the integrity of financial statements, financial and accounting practices, internal controls, performance of external and internal auditors, independence and qualification of the independent auditors, business ethics, and compliance with laws, regulations, and policies that may have a material impact on the consolidated financial statements.
Finance Committee:
(3 Independent Directors)
To advise and assist the Board with respect to the financial and capital investment policies and objectives of this corporation, including specific actions required to achieve those objectives.
Corporate Governance Purpose:
(3 Independent Directors)
To select and determine the compensation of directors; employment, compensation, and benefits policies and practices; the development, selection, and compensation of policy-making officers; and corporate governance matters, including the performance and effectiveness of the Board, and the corporate governance principles and practices of this corporation.
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Organization Structure Board of Directors PDF (28KB)
