17 September 2025 - Intersect September Meeting

Board Seat	In attendance
1 IOG - Gerard Moroney	Yes
2 EMURGO - Nikhil Joshi	Yes
3 Academia - Professor Steven Lupien	Yes
4 Membership - Kavinda Kariyapperuma	Yes
5 Membership - Adam Rusch	Yes
Interim Executive Director - Jack Briggs	Yes
Intersect Executive Team - Nick Cook	Yes

Date: September 17, 2025 Location: Virtual

Chair: Professor Steven Lupien

Meeting summary

The board met to review the latest developments across executive recruitment, financial planning, committee activity, legal operations, and community governance. The meeting also covered budget implementation, contracting transitions, election protocols, and Intersect’s engagement in the upcoming Cardano Summit. Several follow-up actions were delegated, and a shorter session was scheduled for later in the week to finalize time-sensitive matters.

1. Executive Director recruitment

Adam Rusch and Kavinda Kariyapperuma presented a revised plan for the Executive Director (ED) recruitment process. Key elements include:

• Engaging a recruitment or consulting firm (or the incoming HR lead) to advise on compensation and candidate marketing.

• Launching an open call for nominations in mid-October, with community voting to help shape a long list of candidates.

• Inviting nominees to confirm participation before public listing.

• Forming a selection panel representing staff, board members, a community delegate, and the HR director, which will propose a shortlist of three candidates for final board decision.

The process aims to be participatory, transparent, and respectful of candidate privacy where needed.

2. Financial update and funding structure

Jack Briggs provided a financial overview, confirming that current reserves and recently approved treasury funding together provide a 12-month runway, including for the ED hire.

• Intersect’s legacy funds remain separate from new Treasury funds.

• Intersect related proposals awarded by DReps from the Treasury are held by the CDH, and under new custodianship. No new funds will be managed via Wave Digital Assets.

A follow-up session was proposed to finalize pending financial matters and address discretionary items requiring board approval.

3. Contracting and compensation structure

The board reviewed ongoing efforts to bring Intersect’s staffing contracts and compensation model more in line with what is typical for a member-based organization (MBO).

This transition, initiated by Jack Briggs, reflects a move away from the legacy structures and consulting arrangements introduced under previous leadership. The board is currently reviewing the proposed changes to ensure they align with Intersect’s long-term direction and governance model.

4. Intersect’s mission and evolving structure

Jack Briggs shared a refined mission statement focused on coordinating efforts to address the ecosystem’s hardest shared challenges.

Intersect exists to address and solve, through our members, Cardano’s biggest opportunities and challenges. Through enabling member-led governance, coordinating technical development, and supporting the institutions that keep Cardano decentralized and resilient.

This will inform committee remits, with a plan to identify two to three major issues for each committee to focus on over the coming year.

5. Enterprise membership and partnerships

The board discussed evolving the enterprise membership offering to focus on value-add partnerships, not governance access.

An example was shared: a collaboration with Iagon to offer matched credits for enterprise members integrating their product.

6. Legal and operational updates

Intersect is securing new European legal representation and is maintaining US and Cayman-based legal partners. Operational improvements include:

• Transitioning from consultants to in-house staff

• Hiring a new head of HR

• Resolving employment contracts and payroll transitions

7. Smart contracts and vendor onboarding

• 18 vendor contracts have been deployed and funded on-chain.

• All vendors have successfully claimed their zero-payment master contracts.

8. Proposals impacted by delegation issue

As previously agreed by the Board, Intersect will support the Wachsman and DigiFT proposals, both of which were previously disrupted by a Copper delegation issue. These will proceed via appropriate budget information actions.

9. Committee activity and updates

• Civics Committee: proposed a grant to support CIP-149 (optional DRep staking rewards).

• Budget Committee: finalized its updated remit and timeline, with the 2026 budget cycle set to begin and conclude earlier than in 2025.

• Technical Steering Committee (TSC): provided technical review regarding CIP-164 and potential ecosystem impacts - seeking to further collaborate with the delivery vendor/s.

10. Committee member stipends

As part of our approved Treasury award, the board was updated on the ISC’s recommendation for committee stipends:

• $500/month per committee member, split into:

• $250 based on participation

• $250 based on a report from the committee chair

• Payments may commence in October pending legal review to ensure compliance with US nonprofit employment law. No retroactive payments before June will be made.

11. Board elections and conduct

• The board was briefed on the current elections, with 20 candidates running. Voting is underway.

• Staff have been instructed to remain neutral and avoid public endorsements, sharing private information, or offering candidate support beyond equal-access help.

• A full audit of results will be completed before formal announcement.

12. Cardano Summit and inter-board meeting

• Intersect has confirmed tentative participation in the Cardano Summit in Berlin.

• A joint meeting between Intersect’s and the Cardano Foundation’s boards was proposed and supported by multiple members. A formal letter requesting the meeting will be prepared for board approval.

13. Scheduling

The board agreed to hold a shorter follow-up meeting on Friday, approximately 30 minutes later than this session’s start time, to accommodate availability.

Action items

• A follow-up meeting will be scheduled for later in the week to address outstanding financial and board decision items.

• The ED recruitment plan will be recirculated for final review, and execution support will be provided as needed.

• A communication will be drafted for the Cardano Foundation board regarding a summit meeting.

• Budget information actions for Waxman and DigiFT will be timed and aligned with existing governance cycles.

• The proposed committee payment structure will be circulated with legal input and discussed at the next board session.

• Coordination will occur between the TSC and delivery partners to address CIP-164 feedback.

• Election protocols will remain under close review to ensure neutrality and integrity during the voting process.

• The board will continue reviewing updated employment and contracting models to support the shift toward a long-term MBO structure.