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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#0563C1" vlink="#954F72"><div class=WordSection1><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D'>David,<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D'> I assume you are speaking about a review of our insurance and liability of officers and directors. If so, I think we should proceed. Obviously reviewing our indemnification clause would need to be part of an overall review of our exposure. <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D'>Dab<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'>From:</span></b><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'> Board [mailto:board-bounces@portsmouthyc.org] <b>On Behalf Of </b>dswajda@comcast.net<br><b>Sent:</b> Wednesday, March 29, 2017 1:59 PM<br><b>To:</b> Board PYC <board@portsmouthyc.org><br><b>Subject:</b> [Board-2017] Insurance Review<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'>I have been in contact with the firm of Drummond Woodsum, 84 Marginal Way, Suite 600, Portland, ME 04101-2480. Local telephone number is 603-433-3317. I talked with Atty. Tom Watson who actually lives in Portsmouth on New Castle Avenue. He related that a review could take between 3-5 hours and the firm would be asking for a $1500 retainer. Once the paperwork was received, they would review and make a determination of approximate cost. They would send a letter outlining their scope of work and the cost and then ask if we wanted them to proceed. <o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'><o:p> </o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'>I would suggest that they review our Constitution and By-Laws regarding <u>ARTICLE XVII - Indemnification of Directors, Officers, Agents and Employees</u> to determine if it is sufficient.<o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'><o:p> </o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'>I twice tried contacting the firm of Pierce Atwood at 1 NH Avenue, #350, Portsmouth, NH but was unable to make contact through their automated system.<o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'><o:p> </o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'>Please advise if you want to proceed - I gather I am requesting permission to spend $1500 to retain the services of Drummond Woodsum to review our insurance/liability coverage and our Constitution regarding Indemnification.<o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'><o:p> </o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'>David Wajda<o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'>Commodore<o:p></o:p></span></p></div></div></div></body></html>