Nonmonetary Terms Clause Samples

Nonmonetary Terms. 1. The Foundation will dissolve. Dissolution will begin within 60 days after the Settlement Agreement is executed by all parties. Any assets remaining at the time of dissolution will be deposited with the California Community Foundation. 2. ▇▇. ▇▇▇▇▇▇▇▇▇▇▇ and ▇▇. ▇▇▇▇▇▇ agree not to serve as founders, directors or trustees of any California charitable organization (whether the entity is a corporation, foundation, trust or other entity) during their lifetimes. ▇▇. ▇▇▇▇▇▇ may continue to serve on the board of the South Laguna Civic Association, as long as he does not serve in any capacity for which he is responsible for, or have any control, over the organization’s assets. 3. ▇▇. ▇▇▇▇▇▇, ▇▇. ▇▇▇▇▇▇▇ and ▇▇. ▇▇▇▇▇▇▇▇▇▇▇ will complete board director training from a qualified provider (for example, Non Profit Essentials Certificate Program offered by ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇), agreed to by the Attorney General. ▇▇. ▇▇▇▇▇▇ is to complete board training within sixty (60) days after this agreement is executed by all parties. ▇▇. ▇▇▇▇▇▇▇ and ▇▇. ▇▇▇▇▇▇▇▇▇▇▇ will complete board director training within one-hundred and eighty (180) days after this agreement is executed by all parties. ▇▇. ▇▇▇▇▇▇▇, ▇▇. ▇▇▇▇▇▇, and ▇▇. ▇▇▇▇▇▇▇▇▇▇▇ will forward a certificate of completion or other material evidencing that they have complied with this term within fifteen (15) days after completing the course to the Office of the Attorney General, to the attention of Deputy Attorney General ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇. ▇▇. ▇▇▇▇▇▇▇, and ▇▇. ▇▇▇▇▇▇▇▇▇▇▇ agree not to serve as a board director of a nonprofit until they complete board director training. 4. The Attorney General is not requiring that the Foundation file amended Forms 990 with the IRS or amended registration forms with the Registry of Charitable Trusts.