Common use of Founders Clause in Contracts

Founders. A Founder is defined in Section 33- 5202(a)(3), Idaho Code, and means a person, including employees or staff of a public charter school, who makes a material contribution toward the establishment of a public charter school in accordance with criteria determined by the Board of the public charter school, and who is designated as such at the time the Board of Directors acknowledges and accepts such contribution. The criteria for determining when a person is a founder will not discriminate against any person on any basis prohibited by the federal or state constitutions or any federal, state, or local law. The designation of a person as a founder, and the admission preferences available to the children of a founder, will not constitute pecuniary benefits.

Appears in 2 contracts

Sources: Performance Certificate, Performance Certificate