Legalese

Summary of By-laws

The affairs of the Foundation are administered by a board of seven (7) directors, consisting of one (1) active and six (6) retired employees of Resolute Forest Products, Thorold operation. The minimum prerequisite for director eligibility is to have, or have had, five (5) years continuous service with the company and/or the Thorold mill’s previous owners. Directors are elected to a renewable term of three (3) years. A quorum requires at least three (4) directors to be present. All directors serve as such without any remuneration and cannot profit either directly or indirectly from their involvement with the Foundation. The Foundation also provides for a limited membership (non-voting participation).



In order to be eligible for membership in the Foundation, an individual must be an active or retired employee of the Thorold mill, located at 2 Allanburg Road, Thorold, ON L2V 3Z5, AND, be a resident of the Niagara, Ontario region



Funds are allocated on an annual basis by the directors at the annual meeting. The Foundation commits funds in accordance with the Canada Revenue Agency (CRA) requirement of 3.5% of the prior year's capital base. The primary intention of the donations is to support charitable organizations and institutions in the Niagara, Ontario region.

All decisions are governed by a majority of votes cast by directors, with an equality decided by the chair.

Trustee:
Fiducie Desjardins
1 Complexe Desjardins
P.O. Box 34
Montreal, Quebec
H5B 1E4



Bank:
CIBC
41-45 King Street
St. Catharines, Ontario

L2R 6S2



Investment Counsel:

CIBC Asset Managemnt
18 York St., Suite 1400
Toronto, ON
M5J 2T8



Accountants:
KPMG LLP
Chartered Accountants
80 King St.  Suite 620
St. Catharines, ON

L2R 7A7

Head Office:

The Ontario Paper Thorold Foundation
2 Allanburg Road
PO Box 1040
Thorold, ON
L2V 3Z5

Web Site:​

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