Baker Hughes 2004 Annual Report Download - page 17

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PROXY฀STATEMENT
This฀Proxy฀Statement฀is฀furnished฀in฀connection฀with฀
the฀solicitation฀of฀proxies฀by฀the฀Board฀of฀Directors฀of฀Baker฀
Hughes฀Incorporated,฀a฀Delaware฀corporation฀(“Company,”฀
“Baker฀Hughes,”฀“we,”฀“us”฀and฀“our”),฀to฀be฀voted฀at฀
the฀Annual฀Meeting฀of฀Stockholders฀scheduled฀to฀be฀held฀
on฀Thursday,฀April฀28,฀2005฀and฀at฀any฀and฀all฀reconvened฀฀
meetings฀after฀adjournments฀thereof.
Solicitation฀of฀proxies฀by฀mail฀is฀expected฀to฀commence฀
on฀or฀about฀March฀14,฀2005฀(the฀approximate฀date฀this฀Proxy฀
Statement฀and฀accompanying฀proxy฀were฀first฀sent฀to฀security฀
holders).฀The฀Company฀will฀bear฀the฀cost฀of฀the฀solicitation.฀In฀
addition฀to฀solicitation฀by฀mail,฀certain฀of฀the฀directors,฀officers฀
and฀regular฀employees฀of฀the฀Company฀may,฀without฀extra฀
compensation,฀solicit฀proxies฀by฀telephone,฀facsimile฀and฀per-
sonal฀interview.฀The฀Company฀will฀make฀arrangements฀with฀
brokerage฀houses,฀custodians,฀nominees฀and฀other฀fiduciaries฀
to฀send฀proxy฀material฀to฀their฀principals,฀and฀the฀Company฀
will฀reimburse฀them฀for฀postage฀and฀clerical฀expenses.฀The฀
Company฀has฀retained฀Mellon฀Investor฀Services฀LLC,฀Baker฀
Hughes’฀transfer฀agent฀and฀registrar,฀to฀assist฀in฀the฀solicita-
tion฀of฀proxies฀from฀stockholders฀of฀the฀Company฀for฀an฀antic-
ipated฀fee฀of฀$9,500,฀plus฀out-of-pocket฀expenses.
Stockholders฀with฀shares฀registered฀in฀their฀names฀with฀
Mellon฀Investor฀Services฀LLC฀may฀authorize฀a฀proxy฀by฀the฀
Internet฀at฀the฀following฀Internet฀address:฀http://www.eproxy.
com/bhi,฀or฀telephonically฀by฀calling฀Mellon฀Investor฀Services฀
LLC฀at฀1-800-435-6710.฀Proxies฀submitted฀through฀Mellon฀
Investor฀Services฀LLC฀by฀the฀Internet฀or฀telephone฀must฀be฀
received฀by฀11:59฀p.m.฀Eastern฀time฀(10:59฀p.m.฀Central฀time)฀
on฀April฀27,฀2005.฀The฀giving฀of฀a฀proxy฀will฀not฀affect฀your฀
right฀to฀vote฀in฀person฀if฀you฀decide฀to฀attend฀the฀meeting.
A฀number฀of฀banks฀and฀brokerage฀firms฀participate฀in฀a฀
program฀that฀also฀permits฀stockholders฀to฀direct฀their฀vote฀
by฀the฀Internet฀or฀telephone.฀This฀option฀is฀separate฀from฀
that฀offered฀by฀Mellon฀Investor฀Services฀LLC฀and฀will฀be฀
reflected฀on฀the฀voting฀form฀from฀a฀bank฀or฀brokerage฀firm฀
that฀accompanies฀this฀Proxy฀Statement.฀If฀your฀shares฀are฀held฀
in฀an฀account฀at฀a฀bank฀or฀brokerage฀firm฀that฀participates฀in฀
such฀a฀program,฀you฀may฀direct฀the฀vote฀of฀these฀shares฀by฀
the฀Internet฀or฀telephone฀by฀following฀the฀instructions฀on฀
the฀voting฀form฀enclosed฀with฀the฀proxy฀from฀the฀bank฀or฀฀
brokerage฀firm.฀Votes฀directed฀by฀the฀Internet฀or฀telephone฀
through฀such฀a฀program฀must฀be฀received฀by฀Mellon฀Investor฀
Services฀LLC฀by฀11:59฀p.m.฀Eastern฀time฀(10:59฀p.m.฀Central฀
time)฀on฀April฀27,฀2005.฀Directing฀the฀voting฀of฀your฀shares฀
will฀not฀affect฀your฀right฀to฀vote฀in฀person฀if฀you฀decide฀to฀
attend฀the฀meeting;฀however,฀you฀must฀first฀request฀a฀proxy฀
either฀on฀the฀Internet฀or฀the฀voting฀form฀that฀accompanies฀
this฀Proxy฀Statement.฀Requesting฀a฀proxy฀prior฀to฀the฀deadlines฀
described฀above฀will฀automatically฀cancel฀any฀voting฀directions฀
you฀have฀previously฀given฀by฀the฀Internet฀or฀by฀telephone฀with฀
respect฀to฀your฀shares.
The฀Internet฀and฀telephone฀proxy฀procedures฀are฀designed฀
to฀authenticate฀stockholders’฀identities,฀to฀allow฀stockholders฀
to฀give฀their฀proxy฀instructions฀and฀to฀confirm฀that฀those฀
instructions฀have฀been฀properly฀recorded.฀Stockholders฀autho-
rizing฀proxies฀or฀directing฀the฀voting฀of฀shares฀by฀the฀Internet฀
should฀understand฀that฀there฀may฀be฀costs฀associated฀with฀
electronic฀access,฀such฀as฀usage฀charges฀from฀access฀providers฀
and฀telephone฀companies,฀and฀those฀costs฀must฀be฀borne฀by฀
the฀stockholder.
Shares฀for฀which฀proxies฀have฀been฀executed฀will฀
be฀voted฀as฀specified฀in฀the฀proxies.฀If฀no฀specification฀
is฀made,฀the฀shares฀will฀be฀voted฀FOR฀the฀election฀of฀
nominees฀listed฀herein฀as฀directors,฀FOR฀ratification฀of฀
Deloitte฀&฀Touche฀LLP฀as฀the฀Company’s฀Independent฀
Auditor฀for฀fiscal฀year฀2005,฀FOR฀amendment฀to฀the฀
Company’s฀Restated฀Certificate฀of฀Incorporation฀to฀
declassify฀the฀Board฀of฀Directors฀and฀provide฀for฀the฀
annual฀election฀of฀all฀directors฀and฀AGAINST฀Stockholder฀
Proposal฀No.฀1.
Proxies฀may฀be฀revoked฀at฀any฀time฀prior฀to฀the฀exercise฀
thereof฀by฀filing฀with฀the฀Corporate฀Secretary,฀at฀the฀Compa-
ny’s฀executive฀offices,฀a฀written฀revocation฀or฀a฀duly฀executed฀
proxy฀bearing฀a฀later฀date.฀The฀executive฀offices฀of฀the฀Com-
pany฀are฀located฀at฀3900฀Essex฀Lane,฀Houston,฀Texas฀77027-
5177.฀For฀a฀period฀of฀at฀least฀ten฀days฀prior฀to฀the฀Annual฀
Meeting฀of฀Stockholders,฀a฀complete฀list฀of฀stockholders฀enti-
tled฀to฀vote฀at฀the฀Annual฀Meeting฀will฀be฀available฀for฀inspec-
tion฀during฀ordinary฀business฀hours฀at฀the฀Company’s฀executive฀
offices฀by฀stockholders฀of฀record฀for฀proper฀purposes.
Proxy฀Statement฀฀฀฀฀1