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Rules of Business Practice for the 2005–2010 USP Board of Trustees

7. Executive Committee

7.01 Composition

The Executive Committee shall be composed of the Chairperson, the President, the Treasurer, and the Public Member. The Executive Vice President-CEO (EVP-CEO) shall serve as an ex officio, non–voting member.

7.02 Functions

The Executive Committee shall:

  1. Oversee approval and implementation of the budget, including:
    1. Reviewing, and recommending to the Board for approval, the proposed annual budget.
    2. Reviewing and approving proposed shifts within the approved budget of amounts greater than 1.0% of the operating budget or exceeding $500,000.
    3. Reviewing and approving proposed shifts within the approved capital budget of amounts exceeding $250,000.
    4. Reviewing and approving proposed unbudgeted or extraordinary business expenditures greater than $100,000.
  2. Evaluate the performance of the EVP-CEO, including developing the criteria on which he or she will be evaluated, and communicating the evaluation to the Board along with any recommended changes in compensation, including salary incentives or other awards for performance, and/or other supplemental compensation.
  3. Perform such other functions as may be referred or assigned to it by the Board or the Chairperson from time to time, with the authority to act on behalf of the Board with respect to such functions; provided, however, that any decision that significantly alters the strategic direction, finances, relationships or image of USP shall be reserved to the Board as a whole, and further may be referred by the Board to the Convention as provided in Section 5 above.

7.03 Meetings; Ratification of Actions by Board

The Executive Committee shall meet throughout the year as necessary and appropriate, generally quarterly. The Executive Committee meeting agendas shall be provided to the Board, and all actions taken at an Executive Committee meeting shall be included in the minutes of such meeting and presented to the Board for ratification at its next meeting.