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TEC Administration and Rights Charter
proposed by Maxsmart007 and Nightwinga
Article 1: Share Structure
Section 1: Voting Shares (Class A)
100 Class A shares will be issued upon the adoption of this proposal.
Nightwinga and maxsmart007 shall each receive 50 Class A shares.
a. Definiton of Class A shares:
Class A shares give the shareholder the right to vote on matters of corporate
policy, make any necessary and proper proposals, become the CEO or CFO, or
sell the Class A Shares, but they do not grant any dividends or investment
returns. The number of Class A shares held by a shareholder is directly
proportional to the percentage of the votes the shareholder receives.
b. Distribution and Creation of Class A shares:
i. Voting shares may only be traded if a simple majority of the Class A
shares vote in favor of the sale and the Chief Financial Officer is informed
of the trade before the vote.
ii. Voting shares may only be issued if a 2/3 majority of the Class A
shareholders vote in favor of the issuance.
c. Rights Granted by Class A shares:
i. 1st Right
1. The first right of a Class A shareholder is to vote
2. A quorum of 1/3 of the voting shares is required before a vote is
deemed to be official.
3. A simple majority vote method is to be used in voting on all
4. With the right to vote comes the right to abstain. Abstinence from
a vote will cause that shareholder to not be counted at all.
ii. 2nd Right
1. The second right of a Class A shareholder is to propose a new bill
2. Shareholders with voting shares may enact any necessary and
Section 2: NonVoting Shares (Class B)
100 Class B shares shall be issued upon adoption of this proposal.
Nightwinga and maxsmart007 shall each receive 50 Class B shares.
i. Class B Shares do not give the stockholder a right to vote on corporate
policy or to propose corporate policy, however, it will grant return on
investment. The Number of Class B shares are directly proportionate to
the percentage of the total dividend a Class B shareholder receives on a
b. Creation and Distribution of Class B Shares
i. Class B shares can be issued only by a vote by the Class A shares.
Issuances of Class B shares are treated as normal proposals, only requiring
a simple majority vote.
ii. Class B shares can be traded in any way, shape, or form, so long as they
are reported to the Chief Financial Officer.
iii. Reporting to the CFO is defined as posting on the subreddit and tagging
the current CFO.
i. 1st Right
1. The first right of Class B shareholders is to collect returns
2. Class B shares derive monthly dividends equal to the number of
diamonds described in Article 2
ii. 2nd right
1. The second right of Class B shareholders is to impeach
2. Class B shareholders can vote to remove the CEO or CFO by a 3/4
majority in favor of the removal.
Article 2: Corporate Dividends
Section 1: Monthly Dividends
a. Owners of Class B shares derive monthly dividends from their investments.
b. Upon the adoption of this proposal, monthly dividends shall be issued equal to
50% of monthly profits. The percentage of profits devoted to dividends can be
adjusted by Class A shareholders via a 2/3 majority vote.
c. The dividends shall be further divided by the percentage of Class B shares an
investor owns. The percentage of Class B shares which a shareholder owns shall
correspond to the percentage of the profits he receives.
Section 2: Adjusting Dividends
a. Dividends may be adjusted by the Class A shareholders by a simple majority vote.
b. Class B shareholders do not get a dividend if the company becomes unprofitable.
Article 3: Corporate Structure
Section 1: Company Dividends
a. The company shall receive a monthly dividend equal to the sum of profits not
devoted to shareholder dividends.
b. The dividend is for the company to reinvest into its operations.
c. The company shall not receive its dividend if a month turns a deficit. It shall have
some of its resources stripped in order to keep its balance even for the month, if
no round of new shares is passed.
Section 2: Responsibilities of the Executive Officers
a. The Chief Executive Officer is in charge of the general operations of the
company. He is charged with the management of any physical resources or
businesses the company controls.
b. The Chief Financial Officer is in charge of keeping tallies of the outstanding
shares and distributing dividends.
c. Class A shareholders can vote to create new positions by a simple majority vote.
Article 4: Amendment:
This charter may be amended by a unanimous vote of the Class A
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