Annually, the Board of Directors shall appoint a Financial Policy Committee (formerly, the Finance and Pension Investment Committee) comprised of at least three members, one of whom shall be designated by the Board to be Chairperson.
The Chief Financial Officer of the Corporation shall be management's liaison to the Committee.
Meetings
The Committee shall meet at least three times annually to consider the Corporation's various financial policies. The Committee may hold such other meetings from time to time as it may deem necessary or appropriate.
Responsibilities
The purpose of the Committee is to review and oversee the Corporation's various financial policies, financing programs, capital and operating plans, benefit plan management, certain risk management policies and make such recommendations to the Board as it considers appropriate.
The Committee's responsibilities include the review of the following:
The financial condition of the Corporation and its subsidiaries and their current and anticipated financing requirements.
The short- and long-term financing programs of the Corporation and its subsidiaries, including the issuance, sale and redemption of securities.
The Corporation's dividend payment policy, including recommendations with respect to any changes therein.
The performance of the Corporation's various employee benefit plans, including investment performance of the plans, and action or recommendations of the Benefits Administration Committee for the engagement of investment managers for such plans.
The operating and capital budgets of the Corporation and its subsidiaries.
Long-term financial and strategic planning for the Corporation and its subsidiaries.
Potential acquisitions or mergers and/or possible investments with other corporate entities.
Credit policy, including the extension of credit limits to counterparties and the issuance of parental guarantees.
Insurance coverage.
The Committee may make such reports or recommendations to the Board of Directors as it may deem appropriate.
Revision Dates
July 1997
May 1999
March 2004
May 2006
May 2007
May 2009
May 2010
William Howard 
Donald L. Correll 
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