Board Meeting

Corporate Governance

Directors, Executive Officers

The board of directors elects our executive officer annually. A majority vote of the directors who are in office is required to fill vacancies. Each director shall be elected for the term of one year, and until his successor is elected and qualified, or until his earlier resignation or removal.

 

James Henry, 80 years old, Chairman of the Board and Senior Member of the Executive Committee.

Over 50 years of experience as an Executive Farmer; has managerial skills for corporations for 16 years. Mr. Henry is a strategic organizer to support the company's interests with hemp farmers in Pennsylvania. Holds a degree in Bachelor of Science in Agriculture. Mr. Henry was an officer and director CommerceByUs, inc. and resigned on February 28, 2021.
 

Thomas Bontempo, 63 years old, President/Secretary, Director.

Business executive experience for over 25 years, has a degree in Horticulture with knowledge in hemp and hemp cultivation; expert in plant disease diagnostics and general plant health. Mr. Bontempo is an Executive Committee Member. Mr. Bontempo was Vice President of CommerceByUs, inc., and senior executive officer in charge of products and systems development and resigned after the purchase of certain assets of CommerceByUs, inc., effective December 30, 2020. 

 

Robert S. Gourley, 66 years old - Vice President /Treasurer, Director.

Business executive for over 30 years, Bachelor of Science in Business from Indiana University of Pennsylvania, and MBA from Gannon University, owns Gourley Investments and is Human Resources Instructor at Butler Community College.  Mr. Gourley is an Executive Committee Member.  Mr. Gourley was President of CommerceByUs, inc. and resigned on February 28, 2021.

Executive Committee

The Company plans to establish an Executive Committee to augments the mission, vision, and values of the Company as the steering group that reports to the Board of The Directors.  The Executive Committee shall be entitled to receive $10,000 per year, payable on a quarterly basis. Additional compensation maybe offered at the discretion of the Board of Directors.

Board Composition

Our board of directors currently consists of two members. Each director of the Company serves until the next annual meeting of stockholders and until his successor is elected and duly qualified, or until his earlier death, resignation or removal. Our board is authorized to appoint persons to the offices of Chairman of the Board of Directors, President, Chief Executive Officer, one or more vice presidents, a Treasurer or Chief Financial Officer and a Secretary and such other offices as may be determined by the board. Three additional directors will be appointed open the successful conclusion of the Offering.

 

We have no formal policy regarding board diversity. In selecting board candidates, we seek individuals who will further the interests of our stockholders through an established record of professional accomplishment, the ability to contribute positively to our collaborative culture, knowledge of our business and understanding of our prospective markets.

Director Independence

The intends that company’s board of directors to be comprised of independent directors within one year of listing.

 

In selecting our independent director, our board considered the relationships that each such person has with our Company and all the other facts and circumstances our board deemed relevant in determining independence, including the beneficial ownership of our capital stock by each such person.

Board Leadership Structure and Risk Oversight

The board of directors oversees our business and considers the risks associated with our business strategy and decisions. The board currently implements its risk oversight function. Each of the board committees also provides risk oversight in respect of its areas of concentration and reports material risks to the board for further consideration.

Code of Business and Ethics

We have adopted a written code of business conduct and ethics that applies to our directors, officers and employees, including our principal executive officer, principal financial officer and principal accounting officer or controller, or persons performing similar functions. The code of conduct is posted on our website.