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At this, the THIRD MEETING of the Board of Directors of
The Adorno Asset Management Company * * * a MAJORITY of
the Directors being present, by unanimous accord the
following was affirmed and ratified, viz:
29. It is hereby acknowledged that on December 14,
1995, Alicia Gloyeske[7] did resign as a Director
of The Adorno Asset Management Company, due to
circumstances beyond her control.
30. Minute 25[8] defining the incidents of the
employment of the Executive Director.
The Adorno Asset Management Company hereby retains the
services of Edwin R. Adorno to be the Executive
Director of the Company. The Executive Director shall
be employed as a Consultant and shall be responsible
for reporting his own Social Security and Income taxes.
The Directors shall contract the services of the
Executive Director to perform such duties for hire as
the Directors deem to be in the best interest of The
Adorno Asset Management Company. * * *
ARTICLE I - THE DUTIES OF THE EXECUTIVE DIRECTOR SHALL
BE TO:
A. Manage the day to day business affairs of The
Adorno Asset Management Company * * *
* * * * * * *
/s/
Edwin R. Adorno, Director
The third minutes do not list the name of a “trustee” for Adorno
Asset nor make any reference to a “trustee”.
7 According to Mr. Adorno’s testimony, Alicia Gloyeske (Ms.
Gloyeske) is an attorney who set up the trust. Mr. Adorno,
however, refused to provide additional details about Ms.
Gloyeske’s role as the attorney other than to repeatedly state
that “I stand by my stipulations and all the affidavits that are
there”.
8 Minute 25 is not otherwise identified in, or a part of,
the record.
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Last modified: May 25, 2011