HERBERT C. KLEIN, ESQ. - Corporate Board Profile

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY

Filing Date	Source Excerpt
2002-02-28	Herbert C. Klein, Esq. has served as a Trustee since 1961. In fiscal 2001, each Trustee received an annual retainer fee in the amount of $8,500 and a fee of $600 for each meeting of the Board of Trustees and its Committees attended. Mr. Klein is a member of the Executive Committee, Audit Committee and Nominating Committee.
2003-02-28	Herbert C. Klein, Esq., except for the time that he served as a United States Congressman as outlined below, has served as a Trustee since 1961. His current term as a member of the Board of Trustees expires in April 2003. Mr. Klein has been nominated for election to another three (3) year term as Trustee. From 1991 through the end of 1992, Mr. Klein served as President of the Trust. Mr. Klein has been an attorney since 1956 with a practice devoted to real estate, corporate matters and government relations.
2004-02-27	Herbert C. Klein, Esq., except for the time that he served as a United States Congressman, has served as a Trustee since 1961. His current term as a member of the Board of Trustees expires in April 2006. From 1991 through the end of 1992, Mr. Klein served as President of the Trust. Mr. Klein has been an attorney since 1956 with a practice devoted to real estate, corporate matters and government relations. From March 1995 to January 1999, Mr. Klein was a Director of the law firm of Hannoch Weisman located in Roseland, New Jersey. In January 1999, Mr. Klein became a Partner in the law firm of Nowell Amoroso Klein Bierman P.A., with offices located in Hackensack, New Jersey and New York City. The current members of the Nominating Committee of the Board of Trustees are Robert S. Hekemian and Herbert C. Klein, Esq. Mr. Klein is independent, as independence for directors is defined in the listing standards adopted by the National Association of Securities Dealers, Inc. ("NASD") and approved by the Securities and Exchange Commission. Mr. Hekemian is not considered independent under such definition since he is an Executive Officer of the Trust. During fiscal 2003, the Nominating Committee held one (1) meeting at which the Nominating Committee unanimously determined to recommend to the Board of Trustees that Donald W. Barney be nominated for re-election as a Trustee at the Annual Meeting to a two (2) year term and that each of Ronald J. Artinian and Alan L. Aufzien be nominated by the Board of Trustees for re-election as Trustees at the Annual Meeting to three (3) year terms. The current members of the Audit Committee of the Board of Trustees are Ronald J. Artinian, Alan L. Aufzien and Herbert C. Klein. Mr. Artinian is the Chairman of the Audit Committee. Each of Mr. Artinian and Mr. Aufzien satisfies the audit committee qualifications under the NASD listing standards and is independent, as independence for audit committee members is defined in the NASD listing standards. Although Mr. Klein meets the requirements for independence set forth in the NASD definition of "independent director," he does not meet the criteria for independence set forth in Exchange Act Rule 10A-3(b)(1) because the law firm of Nowell, Amoroso, Klein, Bierman, P.A., in which Mr. Klein is currently a partner, has received and will continue to receive legal fees from the Trust for legal services provided and to be provided to the Trust. See the Section of this Proxy Statement entitled "Certain Relationships and Related Party Transactions." Accordingly, Mr. Klein does not satisfy the independence requirement for qualification as an audit committee member under the NASD listing standards. Mr. Klein had resigned from the Audit Committee in January 2003, upon a determination that he would not satisfy the independence requirement of the audit committee qualifications under the NASD listing standards. However, based on Mr. Klein's background and experience, the Board of Trustees reappointed Mr. Klein to the Audit Committee in June 2003 since the Board of Trustees believes that the valuable contributions Mr. Klein will make to the Audit Committee sufficiently mitigate any concerns arising out of the fact that he does not satisfy the independence requirement of the audit committee qualifications under the NASD listing standards.
2005-02-25	Herbert C. Klein, Esq., has served continuously as a Trustee since 1961 except for the two (2) year period from January 1993 to January 1995, when Mr. Klein served as an elected member of the United States Congress, House of Representatives, for the 8th Congressional District of New Jersey. His current term as a member of the Board of Trustees expires in April 2006. From 1991 through the end of 1992, Mr. Klein served as President of the Trust. Mr. Klein has been an attorney since 1956 with a practice devoted to real estate, corporate matters and government relations. From March 1995 to January 1999, Mr. Klein was a Director of the law firm of Hannoch Weisman located in Roseland, New Jersey. In January 1999, Mr. Klein became a Partner in the law firm of Nowell Amoroso Klein Bierman P.A., with offices located in Hackensack, New Jersey and New York City. See section entitled "Certain Relationships and Related Party Transactions" in this Proxy Statement. Mr. Klein is a former member of the New Jersey State Assembly. Mr. Klein is a partner and principle in numerous private investment real estate companies. The current members of the Audit Committee of the Board of Trustees are Ronald J. Artinian, Alan L. Aufzien and Herbert C. Klein. Mr. Artinian is the Chairman of the Audit Committee. Each of Mr. Artinian and Mr. Aufzien satisfies the audit committee qualifications under the NASD listing standards and is independent, as independence for audit committee members is defined in the NASD listing standards. Although Mr. Klein meets the requirements for independence set forth in the NASD definition of "independent director," he does not meet the criteria for independence set forth in Exchange Act Rule 10A-3 (b) (1) because the law firm of Nowell, Amoroso, Klein, Bierman, P.A., in which Mr. Klein is currently a partner, has received and will continue to receive legal fees from the Trust for legal services provided and to be provided to the Trust. See the Section of this Proxy Statement entitled "Certain Relationships and Related Party Transactions." Accordingly, Mr. Klein does not satisfy the independence requirement for qualification as an audit committee member under the NASD listing standards. Mr. Klein had resigned from the Audit Committee in January 2003, upon a determination that he would not satisfy the independence requirement of the audit committee qualifications under the NASD listing standards. However, the Board of Trustees reappointed Mr. Klein to the Audit Committee in June 2003 since the Board of Trustees believes that his background and experience and the valuable contributions that he will make to the Audit Committee sufficiently mitigate any concerns arising out of the fact that he does not satisfy the independence requirement of the audit committee qualifications under the NASD listing standards. During the fiscal year ended October 31, 2004, each Trustee, including even such Trustee who also served as an Executive Officer of the Trust, was entitled to receive an annual retainer fee in the amount of $11,500. The Trustees and the Executive Secretary were entitled to receive meeting attendance fees in the amount of $700 for each meeting of the Board of Trustees and its committees attended. The Chairman of the Board, for each Board of Trustees meeting attended, and the chairman of each Board of Trustees committee, for each committee meeting attended, were entitled to receive meeting attendance fees of $800. The Trustees and the Executive Secretary were also entitled to receive property site inspection fees in the amount of $700 for each site inspection attended, plus the reimbursement of all reasonable and verified out-of-pocket expenses incurred in connection with the site visit. Each member of the Board of Trustees and the Executive Secretary was entitled to receive a fee of $350 for each meeting participated in by teleconference. The Trustees and the Executive Secretary are entitled to defer all or any part of their retainer, meeting and property site inspection fees pursuant to the terms of the Deferred Compensation Plan. For the fiscal year ended October 31, 2004, the Trustees were paid or elected to defer annual retainer fees, meeting attendance fees, site inspection fees and accrued interest, and the Executive Secretary was paid meeting attendance fees, in an aggregate amount of $339,231 as consideration for their services to the Board of Trustees and its committees.
2006-02-28	Herbert C. Klein, Esq., has served continuously as a Trustee since 1961 except for the two (2) year period from January 1993 to January 1995. Mr. Klein is a partner in the law firm of Nowell Amoroso Klein Bierman P.A., which has received legal fees from the Trust. Mr. Klein resigned from the Audit Committee in January 2003 due to independence issues but was reappointed in June 2003. The filing does not state his compensation as a Trustee.
2007-02-28	Herbert C. Klein, Esq., has served continuously as a Trustee since 1961 except for the two (2) year period from January 1993 to January 1995. The current members of the Nominating Committee of the Board of Trustees are Robert S. Hekemian and Herbert C. Klein. The current members of the Audit Committee of the Board of Trustees are Ronald J. Artinian, Alan L. Aufzien and Herbert C. Klein. Mr. Klein's compensation details are not separately stated.
2008-02-28	Herbert C. Klein, Esq., has served continuously as a Trustee since 1961 except for the two year period from January 1993 to January 1995, when Mr. Klein served as an elected member of the United States Congress. ... The Executive Committee of the Board of Trustees members were Messrs. Robert S. Hekemian, Donald W. Barney, Herbert C. Klein, Esq., Ronald J. Artinian and Alan L. Aufzien. ... The current members of the Audit Committee of the Board of Trustees are Ronald J. Artinian, Alan L. Aufzien and Herbert C. Klein. ... Fiscal 2007 Trustee Compensation Table shows total compensation of $43,528 for Herbert C. Klein, Esq.
2009-02-26	Herbert C. Klein, Esq., has served continuously as a Trustee since 1961 except for the two year period from January 1993 to January 1995, when Mr. Klein served as an elected member of the United States Congress, House of Representatives, for the 8th Congressional District of New Jersey. His current term as a member of the Board of Trustees is scheduled to expire in April 2009. From 1991 through the end of 1992, Mr. Klein served as President of the Trust. Mr. Klein has been an attorney since 1956 with a practice devoted to real estate, corporate matters and government relations. The current members of the Executive Committee of the Board of Trustees are, and currently are Messrs. Robert S. Hekemian, Donald W. Barney, Herbert C. Klein, Esq., Ronald J. Artinian and Alan L. Aufzien. The Nominating Committee's charter is available on the Trust's website. The current members of the Audit Committee of the Board of Trustees are Ronald J. Artinian, Alan L. Aufzien and Herbert C. Klein. The Audit Committee held four meetings during fiscal 2008. For the fiscal year ended October 31, 2008, the Trustees were paid or elected to defer annual retainer fees, meeting attendance fees, site inspection fees and accrued interest in an aggregate amount of $702,116 as consideration for their services to the Board of Trustees and its committees.
2010-02-25	Herbert C. Klein, Esq., has served continuously as a Trustee since 1961 except for the two-year period from January 1993 to January 1995, when Mr. Klein served as an elected member of the United States Congress. The current term as a member of the Board of Trustees is scheduled to expire in April 2012. The Executive Committee did not meet during fiscal 2009. The Audit Committee held four meetings during fiscal 2009. The following table sets forth information concerning the compensation of Trustees for the fiscal year ended October 31, 2009. Herbert C. Klein's total compensation was $50,086.
2011-02-28	Herbert C. Klein, Esq., has served continuously as a Trustee since 1961 except for the two-year period from January 1993 to January 1995. The Executive Committee members include Herbert C. Klein. The Audit Committee members include Herbert C. Klein. The table below sets forth his total annual compensation as $58,004.
2012-02-28	Herbert C. Klein has served continuously as a Trustee since 1961 except for a two-year period. He is a member of the Executive Committee and the Audit Committee. The table shows his total compensation for 2011 as $61,278.
2013-02-28	Herbert C. Klein, Esq., has served continuously as a Trustee since 1961 except for the two-year period from January 1993 to January 1995, when Mr. Klein served as an elected member of the United States Congress. ... During fiscal 2012, the members of the Executive Committee were Robert S. Hekemian, Donald W. Barney, Herbert C. Klein, Ronald J. Artinian and Alan L. Aufzien. ... The current members of the Audit Committee of the Board of Trustees are Ronald J. Artinian, Alan L. Aufzien and Herbert C. Klein. ... Fiscal 2012 Trustee Compensation: Herbert C. Klein, Esq. total $69,951.
2014-02-28	Herbert C. Klein has served as a Trustee since 1961. He serves on the Executive and Audit Committees. For the 2013 fiscal year, his total compensation was $70,865.
2015-02-27	Herbert C. Klein, Esq. has served continuously as a Trustee since 1961 except for the two-year period from January 1993 to January 1995, when Mr. Klein served as an elected member of the United States Congress. ... The current members of the Executive Committee were Robert S. Hekemian, Donald W. Barney, Herbert C. Klein, Ronald J. Artinian and Alan L. Aufzien. ... The current members of the Audit Committee of the Board of Trustees are Ronald J. Artinian, Alan L. Aufzien and Herbert C. Klein. ... FISCAL 2014 TRUSTEE COMPENSATION ... Herbert C. Klein, Esq. ... Total $78,998.
2016-02-26	Herbert C. Klein has served continuously as a Trustee since 1961 except for a two-year period. He was a partner in a law firm that provided legal services to the Trust. He is a member of the Executive Committee and Audit Committee. Fiscal 2015 Trustee Compensation was $95,140.
2017-02-24	Herbert C. Klein, Esq. has served continuously as a Trustee since 1961 except for the two-year period from January 1993 to January 1995 when Mr. Klein served as an elected member of the United States Congress, House of Representatives, for the 8th Congressional District of New Jersey. His current term as a member of the Board of Trustees is scheduled to expire in April 2018. From 1991 through the end of 1992, Mr. Klein served as President of the Trust. Mr. Klein has been an attorney since 1956 with a practice devoted to real estate, corporate matters and government relations. Mr. Klein was a Partner in the law firm of Nowell Amoroso Klein Bierman P.A. from 1999 to 2015. Mr. Klein is currently Of Counsel to the law firm of Genova Burns LLC. Mr. Klein is a former member of the New Jersey State Assembly. Mr. Klein is also a partner and principal in numerous private investment real estate companies. He is a member of the Board of Overseers of the Rutgers University Foundation (the “Foundation”), a member of the Executive Committee of the Board of Directors of the Foundation, a member of the Chairman’s Advisory Committee of the National Democratic Institute, a member of the Board of the Montclair Art Museum, and a member of the board of directors of numerous philanthropic organizations. The current members of the Audit Committee of the Board of Trustees are Ronald J. Artinian, Alan L. Aufzien and Herbert C. Klein. Mr. Artinian serves as the Chairman of the Audit Committee. Each of member of the Audit Committee satisfies the audit committee qualifications under the NASDAQ Listing Rules and is independent, as independence for audit committee members is defined in the NASDAQ Listing Rules, and they each meet the independence requirements of Exchange Act Rule 10A-3(b)(1). FISCAL 2016 TRUSTEE COMPENSATION (1) Herbert C. Klein $84,551
2018-02-28	Herbert C. Klein, Esq. has served continuously as a Trustee since 1961 except for the two-year period from January 1993 to January 1995 when Mr. Klein served as an elected member of the United States Congress, House of Representatives, for the 8th Congressional District of New Jersey. From 1991 through the end of 1992, Mr. Klein served as President of the Trust. Mr. Klein has been an attorney since 1956 with a practice devoted to real estate, corporate matters and government relations. Mr. Klein was a Partner in the law firm of Nowell Amoroso Klein Bierman P.A. from 1999 to 2015. Mr. Klein is currently Of Counsel to the law firm of Genova Burns LLC. Mr. Klein is a former member of the New Jersey State Assembly. Mr. Klein is also a partner and principal in numerous private investment real estate companies. He is a member of the Board of Overseers of the Rutgers University Foundation (the “Foundation”), a member of the Executive Committee of the Board of Directors of the Foundation, a member of the Chairman’s Advisory Committee of the National Democratic Institute, a member of the Board of the Montclair Art Museum, and a member of the board of directors of numerous philanthropic organizations.