Amendments to the RIC-Americas Agreement
- Prorated Dues for First-Time Members (Ratified Oct. 2015): First-time membership dues shall be prorated based on the number of months remaining in the Consortium year.
- Dual Memberships (Ratified Feb. 2015): In addition to these Memberships, Full Members of RIC-Americas may apply for a Consortium Dual Membership to join the RIC-Europe at Associate level without additional costs. Likewise, Full Members of RIC-Europe may apply for a Consortium Dual Membership to join the RIC-Americas at associate level without additional costs. All benefits for the associate level apply with the exception of support and training. AND: By invitation of the Full Members sponsoring an FTP, FTP participation rights equal to the sponsoring Full Members.
Participant Affiliates (Ratified June 2014): For purposes of this Article XXIII only, “Affiliate” shall mean a parent or sibling business defined as: Participant and any successor in interest, a) any Business which at the time in question Controls Participant (“Parent”), b) or any Business which Participant or Parent at the time in question directly or indirectly Controls. “Business” means any corporation, partnership, limited liability company, association, venture, or other form of entity. “Control” means the direct or indirect ownership of holding of stock, shares, interests, indicia of equity, or voting or other rights entitled (i) to vote for the election of at least fifty percent (50%) of the directors of the Business and/or (ii) to establish, direct or command management of the Business.
At any time and from time to time Participant may elect to nominate a maximum of two Affiliates to be a participant in the Consortium at the same participation level as Participant. Each nominated Affiliate agrees to be bound by the terms and conditions of this Cooperative Industry Project Agreement and shall have all the same rights as the Participant; provided that, if Participant is a Full Member of the Consortium, a) for purposes of voting on matters coming before the CAC, Participant and its nominated Affiliates shall have a single vote, and b) for purposes of joining as a new member of an existing FTP, the existing members of the FTP will determine the entrance requirements for the Affiliate other than the FTP cost to enter.
The Affiliates’ participation rights shall become effective immediately upon Participant notifying the Consortium Manager of the name, representative’s name, entity type and address of each nominated Affiliate. Participant shall be permitted to change or substitute nominated Affiliates one time during each year of the Consortium.