Board of Directors

Covalon has an active board, chaired by Mr. Williams, and is comprised of a majority of independent directors. The board meets at least quarterly. There are Audit, Ethics, Governance and Compensation committees, each manned by the independent board members. An Ethics Policy is accepted by all directors. Dr. DiCosmo is chair of an ad hoc Ethics Committee. Each committee has provided guidance documents for the Company.

  ^{(M) indicates Management}