Governance

Rebound Enterprises, Northfield, MinnesotaA Competitive Advantage

Rebound Enterprises is committed to accountability and good corporate governance. Accountability begins with the Board of Directors. Rebound believes that good corporate governance is the starting point in insuring that all companies are operated in an open, honest and ethical manner, and in the best interest of our shareholders.

Director Responsibilities
The core responsibility of directors is to exercise their business judgment in a manner that they reasonably believe to be in the best interest of the corporation and our shareholders. Each Board seeks to nominate and retain directors from a wide variety of business and life experiences that will enable them to set company visions, and constructively review and guide the management of the corporation.

Serving on the Board of Directors involves a significant time commitment. Directors are expected to attend all of the meetings of the Board and of the committees on which they serve as well as the Annual Meeting of Shareholders. Directors are also expected to manage their commitments in order to permit them to devote adequate time and attention to the performance of their duties as members of the Board and its committees.

Committees
Committee structures vary depending on the business. Each board has a Compensation Committee, a Governance Committee and an Executive Committee. Each Committee has a Charter which is reviewed and adopted annually.

Director Orientation and Continuing Education
Rebound Enterprises is committed to providing appropriate orientation for new directors. This orientation includes meetings with management, written material on the company’s organization and governance, recent Board minutes, operating plan information, corporate structure, organizational details and information about the company’s products and services as well as the industries in which the company operates.

Directors may participate in additional educational opportunities that will enhance their effectiveness on the Board. It is generally expected that directors will attend one external educational experience per year.

Succession Planning
A central duty of the Board of Directors is to select a Leader and to oversee the Leadership team in the competent and ethical operation of the company. The Board, through the Compensation Committee, evaluates annually the performance of the Leader. Working with the executive management team, the Board plans for the succession of the Leadership team. As a result, the company has a plan in place to address contingencies such as the departure, death, or disability of the Leader or a member of the executive management team so that in the event of an untimely departure, the company can facilitate the transition of both on an interim and long-term basis.

Board Evaluation
The Board annually evaluates its role and performance on behalf of the shareholders. As a part of the process, each director performs a self-evaluation on his or her contribution to the Board and his or her ability to do so in the future.