Kodak 2004 Annual Report Download - page 182

Exhibits
73
E A S T M A N฀ K OD A K ฀ C O M PA N Y
III.฀BOARD฀LEADERSHIP
Chairman฀of฀the฀Board฀฀The฀Board฀of฀Directors฀will฀elect฀a฀Chairman฀of฀the฀Board฀who฀will฀have฀primary฀responsibility฀for฀scheduling฀Board฀meetings,฀
calling฀special฀meetings฀when฀necessary,฀setting฀or฀proposing฀the฀agenda฀for฀each฀meeting฀and฀leading฀the฀conduct฀of฀Board฀meetings.฀The฀CEO฀of฀the฀
Company฀will,฀in฀most฀cases,฀also฀be฀the฀Chairman฀of฀the฀Board.
Presiding฀Director฀฀The฀Board฀of฀Directors฀will฀also฀elect฀a฀Presiding฀Director฀whose฀primary฀function฀will฀be฀to฀ensure฀that฀the฀Board฀operates฀inde-
pendent฀of฀the฀Company’s฀management.฀Absent฀a฀Board฀decision฀to฀the฀contrary,฀the฀Presiding฀Director฀will฀be฀the฀longest-tenured฀independent฀member฀
of฀the฀Board.฀Included฀as฀part฀of฀the฀Presiding฀Director’s฀responsibilities฀are:฀convening฀and฀chairing฀regular฀and฀special฀meetings฀of฀the฀independent฀
directors,฀acting฀as฀the฀principal฀liaison฀between฀the฀independent฀directors฀and฀the฀CEO฀and฀providing฀feedback฀to฀the฀CEO฀from฀the฀meetings฀of฀the฀
independent฀directors.
IV.฀BOARD฀CONDUCT
Change฀of฀Responsibility฀of฀Director฀฀Directors฀are฀expected฀to฀report฀changes฀in฀their฀employment฀or฀their฀business฀or฀professional฀affiliations฀or฀re-
sponsibilities,฀including฀retirement,฀to฀both฀the฀Chairman฀of฀the฀Board฀and฀the฀Chair฀of฀the฀Corporate฀Responsibility฀and฀Governance฀Committee.฀A฀director฀
will฀tender฀a฀resignation฀when฀there฀is฀a฀change฀in฀the฀director’s฀principal฀employment.฀Based฀on฀advice฀from฀the฀Corporate฀Responsibility฀and฀Governance฀
Committee,฀the฀Board฀will฀then฀decide฀whether฀continued฀Board฀membership฀is฀appropriate฀under฀the฀circumstances.
The฀CEO฀and฀any฀other฀officer฀of฀the฀Company฀who฀is฀a฀director฀will฀tender฀their฀resignation฀from฀the฀Board฀when฀such฀individual฀ceases฀to฀be฀the฀CEO฀or฀
other฀officer฀of฀the฀Company.฀The฀CEO฀should฀not,฀in฀most฀cases,฀continue฀as฀a฀director฀after฀retirement฀from฀the฀Company.
Retirement฀฀A฀director฀will฀retire฀from฀the฀Board฀at฀the฀first฀Annual฀Meeting฀following฀the฀director’s฀70th฀birthday.
Equity฀Ownership฀฀It฀is฀expected฀that฀each฀director฀will฀develop฀a฀meaningful฀equity฀interest฀in฀the฀Company฀within฀a฀reasonable฀period฀after฀initial฀elec-
tion฀to฀the฀Board฀and฀retain฀such฀equity฀interest฀while฀serving฀on฀the฀Board.฀To฀align฀the฀interests฀of฀directors฀and฀the฀Company’s฀shareholders,฀a฀director฀
is฀not฀permitted฀to฀exercise฀any฀stock฀options฀or฀sell฀any฀restricted฀shares฀granted฀to฀him฀or฀her฀by฀the฀Company฀unless฀and฀until฀the฀director฀owns฀shares฀
of฀stock฀in฀the฀Company฀(either฀outright฀or฀through฀phantom฀stock฀units฀in฀the฀Deferred฀Compensation฀Plan฀for฀Directors)฀that฀have฀a฀value฀equal฀to฀at฀
least฀five฀times฀the฀then฀maximum฀amount฀of฀the฀annual฀retainer฀which฀may฀be฀taken฀in฀cash฀by฀the฀director.
Other฀Board฀Memberships฀฀Directors฀should฀advise฀both฀the฀Chairman฀of฀the฀Board฀and฀the฀Chair฀of฀the฀Corporate฀Responsibility฀and฀Governance฀Com-
mittee฀before฀accepting฀any฀other฀public฀company฀directorship.฀If฀the฀Corporate฀Responsibility฀and฀Governance฀Committee฀determines฀a฀conflict฀of฀interest฀
exists฀by฀serving฀on฀the฀board฀of฀another฀company,฀the฀director฀is฀expected฀to฀act฀in฀accordance฀with฀the฀recommendation฀of฀the฀committee.฀
Other฀Audit฀Committee฀Memberships฀฀No฀member฀of฀the฀Audit฀Committee฀may฀serve฀simultaneously฀on฀the฀audit฀committees฀of฀more฀than฀two฀other฀
public฀company฀boards,฀unless฀the฀Board฀determines฀that฀such฀simultaneous฀service฀would฀not฀impair฀such฀director’s฀ability฀to฀effectively฀serve฀on฀the฀
Audit฀Committee฀and฀such฀determination฀is฀disclosed฀in฀the฀Company’s฀annual฀Proxy฀Statement.฀Directors฀will฀advise฀both฀the฀Chairman฀of฀the฀Board฀and฀
the฀Chair฀of฀the฀Corporate฀Responsibility฀and฀Governance฀Committee฀prior฀to฀accepting฀an฀invitation฀to฀serve฀on฀the฀audit฀committee฀of฀another฀public฀
company฀board.
Communications฀with฀the฀Public฀฀The฀CEO฀is฀responsible฀for฀establishing฀effective฀communications฀with฀the฀Company’s฀stakeholder฀groups฀(i.e.,฀the฀
press,฀institutional฀investors,฀analysts,฀customers,฀suppliers฀and฀other฀constituencies).฀The฀Board฀will฀look฀to฀management฀to฀speak฀for฀the฀Company.฀฀
Board฀members฀will฀refer฀all฀inquiries฀from฀and฀communications฀with฀the฀Company’s฀stakeholder฀groups฀to฀the฀CEO.฀In฀the฀unusual฀circumstance฀where฀
the฀independent฀directors฀need฀to฀communicate฀directly฀with฀the฀press,฀the฀Presiding฀Director฀will฀perform฀this฀function.
Confidentiality฀฀The฀Board฀believes฀maintaining฀confidentiality฀of฀information฀and฀deliberations฀is฀an฀imperative.฀Information฀learned฀during฀the฀course฀of฀
service฀of฀the฀Board฀is฀to฀be฀held฀confidential฀and฀used฀solely฀in฀furtherance฀of฀the฀Company’s฀business.
Code฀of฀Business฀Conduct฀and฀Ethics฀฀The฀Company฀will฀maintain,฀and฀the฀Audit฀Committee฀will฀oversee฀compliance฀with,฀a฀code฀of฀business฀conduct฀
and฀ethics฀for฀the฀directors.฀Such฀code฀as฀currently฀in฀effect฀is฀set฀forth฀in฀Appendix฀D,฀and฀such฀code฀may฀be฀modified฀and฀replaced฀from฀time฀to฀time฀by฀
the฀Audit฀Committee.
V.฀BOARD฀MEETINGS
Meeting฀Attendance฀฀Directors฀are฀expected฀to฀attend฀Board฀meetings,฀meetings฀of฀committees฀on฀which฀they฀serve฀and฀meetings฀of฀stockholders฀
absent฀exceptional฀cause.฀The฀Board฀has฀established฀a฀“Board฀of฀Directors฀Attendance฀Policy,”฀a฀copy฀of฀which฀is฀attached฀as฀Appendix฀E.
Agenda฀฀The฀Chairman฀of฀the฀Board฀will฀set฀the฀agenda฀for฀each฀meeting฀of฀the฀Board.฀Any฀director฀may฀suggest฀agenda฀items฀and฀may฀raise฀at฀meetings฀
other฀matters฀they฀consider฀worthy฀of฀discussion.
Board฀Materials฀Distributed฀in฀Advance฀฀Management฀will฀be฀responsible฀for฀assuring฀that,฀as฀a฀general฀rule,฀information฀and฀data฀that฀are฀important฀
to฀the฀Board’s฀understanding฀of฀the฀Company’s฀business฀and฀to฀all฀matters฀expected฀to฀be฀considered฀and฀acted฀upon฀by฀the฀Board฀be฀distributed฀in฀writ-
ing฀to฀the฀Board฀sufficiently฀in฀advance฀of฀each฀Board฀meeting฀and฀each฀action฀to฀be฀taken฀by฀written฀consent฀to฀provide฀the฀directors฀a฀reasonable฀time฀to฀