Arnold P. Mordkin and Cindy Mordkin - Page 9

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          prove all aspects of the daily operations of Crestwood Associa-             
          tion.  Ms. Gahm sought to achieve those objectives by interview-            
          ing the Crestwood management staff and evaluating the policies              
          and procedures of the Crestwood Association owners' operations              
          and lodge operations.  Although board members, including peti-              
          tioner, were involved in activities relating to quality assur-              
          ance, Ms. Gahm directed the process and was primarily responsible           
          for its implementation.                                                     
               During each of the years at issue, Mr. Dempsey and Ms. Gahm            
          attended the board meetings that were held at Crestwood in the              
          months of January, April, and September.  During those meetings,            
          Mr. Dempsey and Ms. Gahm advised the board members of the finan-            
          cial results of the operations of Crestwood Association and of              
          significant issues relating to those operations.7  In addition,             
          they made recommendations on key issues such as the selection of            
          contractors for the installation of the fire protection system at           
          Crestwood and the assumption of a lease by Crestwood Association            
          on nearby residential property in order to provide housing for              
          its employees.                                                              

          7  At the board meetings that took place during the years at                
          issue, Mr. Dempsey and Ms. Gahm apprised the board of important             
          issues relating to the operations of Crestwood Association,                 
          including the installation of a fire protection system at Crest-            
          wood, the proposal by the town of Snowmass Village for terminat-            
          ing its ownership of Crestwood parking lots and roads, the                  
          occurrence of fires on the Crestwood property, and employee                 

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Last modified: May 25, 2011