MINUTES OF THE TWENTIETH ANNUAL BOARD MEETING OF
SPACE ENVIRONMENT CORPORATION
November 18, 2006
The 20th annual board meeting of Space Environment Corporation was held in the Conference Room at the Space Environment Corporation Main Office at 221 N. Spring Creek Parkway, Suite A, Providence, Utah, on November 18, 2006. All members were alerted to the meeting date and time. Chairman W. J. Raitt said he would not attend due to the distance of travel from his new home in Arizona to the Board Meeting location. However, he would ‘cyber’ participate through electronic conferencing software.
Present: J. V. Eccles, R. W. Schunk, J. J. Sojka, V. B. Wickwar. Electronically Present: W. J. Raitt.
Board Chairman V. B. Wickwar called meeting to order at 9:25am.
Minutes of the Nineteenth Annual Board Meeting
The Company Secretary, J. V. Eccles, presented the minutes of the previous year's Annual Board Meeting. R. W. Schunk moved to accept the minutes as presented. J. J. Sojka seconded the motion. The motion was passed unanimously.
Election of Officers of the Company
J. J. Sojka nominated the following for the officers of the company:
R. W. Schunk President
V.B. Wickwar Vice-President
J. V. Eccles Company Secretary
J. J. Sojka Treasurer
R. W. Schunk seconded the nominations. The above were elected unanimously.
Election of Officers of the Board of Directors
R. W. Schunk nominated V. B. Wickwar as Chairman of the Board and J. V. Eccles as Secretary to the Board. J. J. Sojka seconded the nominations. They were elected unanimously. The officers are as follows:
V. B. Wickwar Chairman of the Board
J. V. Eccles Secretary to the Board
J.J. Sojka acknowledged the company new practice that SEC pays $300 to SEC Board Members who have not participated in contract work during the prior year for their attendance at the Annual Board Meeting. However, due to the current short fall in funding, J.J. Sojka moved to reduce the Board Member compensation to $100 per meeting. R. W. Schunk seconded the motion. R. W. Schunk noted that SEC should revisit this practice when funding levels return. He also noted that the annual SEC dinner during the AGU Fall meeting in San Francisco has been canceled for fiscal reasons. The motion to reduce Board Member compensation passed unanimously.
J. J. Sojka noted that W. J. Raitt may be paid under a future proposed effort to field an “Agile” radio receiver at his home in Tucson, AZ.
J. J. Sojka put forward a question of what should be done if funding does not come through in the coming financial year. R.W. Schunk suggested that SEC not worry about the situation until the situation arrives. He restated the position as President of SEC to strive to guarantee the positions of Vince Eccles and Don Rice as SEC employees. Vince Eccles notes that as funding runs short he must consider his future employment.
J. J. Sojka moved and W. J. Raitt seconded to adjourn the meeting at 9:45pm.
J. Vincent Eccles, Secretary