<p>Page 1 of 2</p><p>Irish Black Cattle Association Meeting, October 11, 2013, 5:30 PM</p><p>The meeting was called to order with the following people in attendance: Lisa and Wade Hendrickson, Doug Graybeal, Dan and Kerry Graybeal, and Terry and Julie Todd. </p><p>The minutes of the October 6, 2013 meeting were read and approved as written with Terry Todd motioning to approve the minutes with Doug Graybeal seconding. All voted aye.</p><p>OLD BUSINESS:</p><p>Discussion began about the new Mountain West Bank checking account for the association. Bank Forms and signature cards were signed by the Board Members. Since Kathy Graybeal was not present, Lisa will meet with her next week to get her signatures for the bank paperwork.</p><p>Liability insurance for the IBCA Board was discussed by the directors and members present. There could be a policy for liability insurance for the IBCA entity. This insurance may pay for the lawyer fees in case of a lawsuit against the Association. Director and Officer Insurance was also discussed and determined by all to be necessary. Lisa stated that the final quotes for these policies are not in, but estimated rates are as follows: Director Insurance Quote: $1,200.00 to $1,500.00 Entity Insurance Quote: $600.00 to $800.00</p><p>The Board voted unanimously to have Lisa Hendrickson get the insurance in place so long as it did not exceed these estimates.</p><p>The Board went into Executive Session at 6:55 PM to discuss the Trademark License Agreement. The above mentioned members were present. The Trademark License Agreement document from IB&R to IBCA was presented and considered. Doug Graybeal and Terry Todd voted for signing the Agreement, Lisa Hendrickson abstained from the vote because of conflict of interest. The Trademark License Agreement was signed by all parties.</p><p>The executive session ended at 7:30 PM. Terry Todd made the motion to recognize the signed Trademark License agreement. Dan Graybeal seconded the motion. All voted aye. The Trademark License is now active.</p><p>NEW BUSINESS</p><p>The notice of cancelled trademark example letter was distributed to the members and discussed. I.B. & R. Trademarks, LLC developed the letter and shared it with members for review and suggestions. The letter will be sent to all Irish Black/Irish Red cattle producers and all holders of the Boney’s License Agreement. Terry Todd and Doug Graybeal volunteered to make phone contact with producers once the letters had been sent out.</p><p>Page 1 of 2 Page 2 of 2</p><p>The next meeting of the IBCA was discussed and will be held on November 5, 2013 at 4:30 PM. Lisa Hendrickson will make arrangements for the meeting to be held at the Hilton Garden Inn, Missoula, Montana on Reserve Street.</p><p>Dan Graybeal made the motion to adjourn the meeting. Doug Graybeal seconded the motion and all voted aye. The meeting adjourned at 8:15 PM.</p><p>Page 2 of 2</p>