RECORD of FRYE ISLAND INCORPORATED

BOARD OF DIRECTORS MEETING via EMAIL

Sunday November 7 through Friday, November 12, 2004

 

1.)    The Email meeting was called by President Potts at 11:43 AM on Sunday November 7, 2004, in accord the the FII By-Laws Article IX, Section 6 for Email Voting. The following motion was presented for discussion and voting of the FII Board of Directors:

Motion for Email Vote

 
I, Joe Potts, move that we approve the minutes of the October 8, 2004 FII Board of Directors meeting and approve the minutes of the October 9, 2004 FII Stockholders' Meeting as shown on the Frye Island website at the following locations:
 
   Board Minutes - http://www.fryeisland.com/fiidocs/bd041008.htm
 
   Stockholder Minutes - http://www.fryeisland.com/fiidocs/sh041009.htm
 
   Transfer Plan v3 - http://www.fryeisland.com/fiidocs/asset-tfr3.pdf

2.)    The above motion was seconded by Carl Hommel at 12:10 PM on Sunday November 7, 2004

3.)    A 72 hour period of discussion occurred via email.

4.)    The following details the results of the voting after the discussion period:

People voting YES:  Nancy Fournier, Joe Potts, Jackie Atkinson, Jan Roberts,
                                Carl, Hommel, Phil Perry, and Dave Gleeson.

People voting NO: No negative votes were cast

People Participating without casting a vote: Dick Norris

People not participating: Dick Giggey

5.)    The motion detailed in section 1) above PASSED