Board of Directors Policy

Last Updated:  August 10, 2023
Last Reviewed:  August 10, 2023

Introduction

This Board of Directors Policy outlines the governance structure and responsibilities for the Board of Directors in our member-managed Limited Liability Company (Wingu Technology LLC). As a member-managed LLC, Wingu Technology LLC empowers its members to actively participate in the decision-making and management of the company. This policy aims to provide clarity on the roles and responsibilities of the Board of Directors, ensuring effective governance and decision-making processes.

Purpose of the Board of Directors

The Board of Directors in Wingu Technology LLC serves as an advisory body to facilitate collaborative decision-making and strategic planning. The primary purpose of the Board is to support and advise the members on critical matters affecting the company’s growth, operations, and long-term success.

Composition of the Board

The Board of Directors in Wingu Technology LLC will consist of one (1) member. The members of the Board are selected from among the LLC’s active members who wish to take on leadership and governance responsibilities.  The founder, Calvin A. Levy will serve as lifetime member.  Other members of the Board shall serve a one (1) year term, and they may be reelected at the end of their term.

Roles and Responsibilities of the Board

The Board of Directors shall have the following roles and responsibilities:

a. Strategic Planning: The Board will actively participate in the development and review of the company’s strategic plans, long-term goals, and objectives.

b. Financial Oversight: The Board will provide oversight of the company’s financial management and performance, ensuring financial sustainability and accountability.

c. Policy Formulation: The Board will collaborate with the members to establish policies and guidelines that govern the LLC’s operations, adhering to the objectives set forth in the operating agreement.

d. Risk Management: The Board will identify and assess potential risks to the company and work with management to implement effective risk management strategies.

e. Legal and Regulatory Compliance: The Board will ensure that the company operates in accordance with all applicable laws, regulations, and industry standards.

f. Decision-Making: The Board will provide input and recommendations on significant business decisions, including major investments, mergers, acquisitions, and other strategic moves.

g. Board Meetings: The Board will conduct regular meetings to discuss business matters, review financial reports, and address any other significant issues.

h. Communication: The Board will facilitate communication between members and management, ensuring transparency and alignment with the company’s goals.

Decision-Making Process

All major decisions concerning the company will be discussed and voted upon during Board meetings. Decisions shall be made through a majority vote, and each Board member will have one vote. In the event of a tie, the LLC’s operating agreement shall govern the resolution process.

Amendment of the Board of Directors Policy

This Board of Directors Policy may be amended at any time with the consent of the majority of the members. Any proposed amendments shall be communicated to all members in advance of the meeting at which they will be considered.

Conclusion

The Board of Directors in Wingu Technology plays a vital role in ensuring effective governance and decision-making within the member-managed LLC structure. By actively participating in strategic planning and providing valuable input, the Board contributes to the long-term success and growth of the company. This policy is designed to foster a transparent, collaborative, and responsible approach to governance and leadership.

          Wingu Technology LLC
          2252 Twelve Oaks Way, Suite 102
          Wesley Chapel, Florida 33544-6972
          United States of America