Item - 2023.TA1.13

The Board of Directors of the Toronto Atmospheric Fund: 

1.  Approved updates to the Chief Executive Officer level salary band as outlined in Confidential Attachment 1 to the report (February 1, 2023) from the Chair of the Human Resources Committee, Toronto Atmospheric Fund.

2.  Directed the Chair of the Board of Directors and Chair of the Human Resources Committee to review and update the Chief Executive Officer contract in collaboration with Toronto Atmospheric Fund’s Solicitor, and negotiate an updated salary in line with the updated salary range and Executive Compensation Policy guidelines.

3.  Directed that the confidential information contained in Confidential Attachment 1 to the report (February 1, 2023) from the Chair of the Human Resources Committee, Toronto Atmospheric Fund remain confidential in its entirety, as deals with personal matters about an identifiable person.

The Board of Directors of the Toronto Atmospheric Fund recessed its public meeting to meet in closed session to consider the item as it pertains to personal matters about identifiable people.

The Chair of the Human Resources Committee will update the Board on Human Resources matters, including a review of compensation for Toronto Atmospheric Fund Chief Executive Officer. Additional materials with recommendations related to the compensation will be provided to the Board for consideration. These matters will require a closed session discussion, as they relate to personal information about identifiable individuals and compensation considerations.

This report recommends updates to the Toronto Atmospheric Fund’s Chief Executive Officer-level salary range, and requests that the Board of Directors direct the Board Chair and Human Resources Committee Chair to work with Toronto Atmospheric Fund’s legal counsel to update the Chief Executive Officer contract and negotiate an update to the Chief Executive Officer salary for 2023 in line with the approved salary band and current Executive Compensation Policy.