Document rx34ZLwmJyrdMqyp5OrExE340

Wednesday October 18, 1972 FLUID SEALING ASSOCIATION Board of Directors Meeting MINUTES PLAINTIFF'S EXHIBIT Hilton Head Inn Hilton Head Island, S.C. Members. Attending: Charles Kenkelen Richard McDermott George Mordas Robert B. Park W. Jerry Rooney John Scannell Staff Attending: Brent H. Farber, Jr., Secretary/Treasurer Gabriel F. Nagy, Legal Counsel Edward Schuman Laurens C. van Dyck Roy Van Ness President Park called the meeting to order at 2:15 p.m. MINUTES The Minutes of the Board of Directors meeting of June 22, 1972 were approved as dis tributed. TREASURER^ REPORT Secretary/Treasurer Farber presented an income and expense statement covering the period from January 1, 1972 to September 30, 1972. The report was approved as sub mitted. -He also presented a certified financial statement for 1971 which was developed by Wiss & Company for an additional fee of $100. This statement was approved as sub mitted. The budget for 1973 was presented by the Secretary/Treasurer with a minor correction, and that had to do with legal fees, since the Association will be cutting out three Standards & Specification Committee meetings during the year and therefore will not need legal counsel at those meetings. The legal fees will be reduced by $500. A corrected 1973 budget is as follows: INCOME Regular Members Associate Members EXPENSES ( Management Fee Office Expenses Meeting Expenses Accountant Fee Legal Fees Publicity & Advertising Contingency Fund $23,400.00 2.500.00 $25,900.00 $11,400.00 2,500.00 2,600.00 300.00 2,500.00 500.00 500.00 $20,300.00 Surplus $ 5,600.00 -3 PSA BOARD OF DIRECTORS MINUTES Page 2 TREASURER'S REPORT (continued) Alter a discussion of the budget items, Charles Kenkelen moved, seconded by John Scannell that the budget be approved -- motion passed. The Secretary/Treasurer then advised the Board that there was one delinquent member and it was suggested that Roy Van Ness contact this member since the member was a part of the R.E.J. Division and see if he could get a commitment for payment of back dues. MEMBERSHIP REPORT The following regular prospective members were approved: Vanco, Houston, Texas; Scott Gasket Co., Los Angeles, California; Goodyear, Canada; Ethylene Corporation, Murray Hill, New Jersey; and Ethylene Gulph Coast Corporation, Houston, Texas. The following associate prospective members were approved: Union Carbide, Carbon Products Division, New York, New York; and I.C.I. Corporation. The following were approved as regular members: Ethylene Corporation Murray Hill, New Jersey Ethylene Gulph Coast Corporation Houston, Texas SALES INDEX PROGRAM AND OTHER REPORTS BY DIVISION Secretary/Treasurer Farber reviewed with the Board those reports that are presently being made by the Association members and certain Divisions. These reports are as follows: Sales Index Program involving 19 member firms; Compression Packings Divi sion poundage figures, 8 member firms reporting; Molded Packing sales volume reported by 5 member firms; and Compressed Sheet Packing reported by 6 member firms; and Rubber Expansion Joints reporting annual sales. SPECIAL COMMITTEE REPORT President Park reviewed with the Board the purpose of the Special Committee and its recommendations. After discussion, Charles Kenkelen moved, seconded by Jerry Rooney that the recommendations of the Committee be approved -- motion passed. TASK FORCE TO STUDY ASBESTOS SITUATION President Park reviewed with the Board members his thoughts on setting up a task force to study the problems that the industry is again being faced with concerning the harmful effects of asbestos under the new OSHA law. It was suggested that this task force define those products that would be used by our customers and the effect that these products would have on them concerning their health and safety. President Park recommended the following members to serve on this committee: Ike Weaver, taybestos-Manhattan; Hugh Jackson, Johns-Manvilie Sales Corp.; and John Dougherty, Garlock. This committee was approved by the Board. FSA BOARD OF DIRECTORS MINUTES Page 3 01D BUSINESS It was. decided that there would be no new Honorary members selected at this time and that this type o member would be considered at our next Annual meeting. The time and place of the June meeting for 1974 should be referred to the new Meetings Committee for their recommendations. It was suggested that Sea Island in Georgia be considered. NEW BUSINESS President Park reviewed with the Board a suggestion that former Secretary/Treasurer Hough had made regarding a scholarship fund to be setup by the Association. The idea was discussed thoroughly by the Board and it was decided that no action would be taken at this time on the suggestion. Before adjourning the meeting the Board of Directors commended President Park for a job well done as President of the Association for the past two years. There being no further business, the Board was adjourned at 5:10 p.m