Kodak 2004 Annual Report Download - page 183

Exhibits
74
2 0 0 5 ฀ N O T I C E ฀ O F ฀ A N N U A L ฀ M E E T I N G ฀ A N D ฀ P R O X Y ฀ S T A T E M E N T
review฀and฀evaluate฀such฀information฀and฀data.฀Management฀will฀make฀every฀attempt฀to฀see฀that฀this฀material฀is฀as฀concise฀as฀possible฀while฀still฀providing฀
the฀desired฀information.฀In฀the฀event฀of฀a฀pressing฀need฀for฀the฀Board฀to฀meet฀on฀short฀notice฀or฀if฀such฀materials฀would฀otherwise฀contain฀highly฀confiden-
tial฀or฀sensitive฀information,฀it฀is฀recognized฀that฀written฀materials฀may฀not฀be฀available฀in฀advance.฀฀
To฀prepare฀for฀meetings,฀directors฀should฀review฀these฀materials฀in฀advance.฀Directors฀will฀preserve฀the฀confidentiality฀of฀all฀materials฀given฀and฀informa-
tion฀provided฀to฀the฀Board.
Board฀Presentations฀฀As฀a฀general฀rule,฀presentations฀on฀specific฀subjects฀should฀be฀sent฀to฀the฀Board฀members฀in฀advance฀so฀that฀Board฀meeting฀time฀
may฀be฀conserved฀and฀discussion฀time฀focused฀on฀questions฀that฀the฀Board฀has฀about฀the฀material.฀On฀those฀occasions฀in฀which฀the฀subject฀matter฀is฀too฀
sensitive฀to฀distribute฀in฀written฀form,฀the฀presentation฀will฀be฀discussed฀at฀the฀meeting.฀
Strategic฀Planning฀฀The฀Board฀will฀review฀the฀Company’s฀long-term฀strategic฀plan฀during฀at฀least฀one฀Board฀meeting฀each฀year฀specifically฀devoted฀to฀
this฀purpose.
Executive฀Sessions฀฀The฀non-management฀directors฀will฀regularly฀meet฀in฀executive฀session,฀without฀management,฀at฀least฀four฀times฀per฀year฀in฀
connection฀with฀regularly฀scheduled฀Board฀meetings.฀The฀Presiding฀Director฀will฀preside฀at฀all฀of฀these฀executive฀sessions.฀If฀the฀Presiding฀Director฀is฀not฀
present,฀the฀independent฀directors฀will฀choose฀another฀independent฀director฀to฀preside฀at฀the฀executive฀session.฀฀
When฀all฀of฀the฀non-management฀directors฀are฀not฀independent,฀the฀independent฀directors฀of฀the฀Board฀will฀meet฀in฀executive฀session,฀without฀the฀man-
agement฀directors฀and฀other฀members฀of฀management,฀at฀least฀one฀time฀per฀year฀in฀connection฀with฀a฀regularly฀scheduled฀Board฀meeting.฀The฀Presiding฀
Director฀will฀preside฀at฀this฀executive฀session.฀If฀the฀Presiding฀Director฀is฀not฀present,฀the฀independent฀directors฀will฀choose฀another฀independent฀director฀to฀
preside฀at฀the฀executive฀session.
VI.฀COMMITTEE฀MATTERS
Committees฀฀The฀Company฀has฀five฀standing฀committees:฀Audit฀Committee,฀Corporate฀Responsibility฀and฀Governance฀Committee,฀Executive฀Committee,฀
Executive฀Compensation฀and฀Development฀Committee,฀and฀the฀Finance฀Committee.฀Each฀committee฀will฀have฀the฀duties฀and฀responsibilities฀delegated฀to฀it฀
in฀its฀charter฀and฀in฀the฀Company’s฀by-laws.฀The฀Board฀may฀form฀a฀new฀committee฀or฀disband฀an฀existing฀committee฀depending฀on฀circumstances.
Independence฀of฀the฀Board฀Committees฀฀Each฀committee฀of฀the฀Board฀will฀be฀composed฀entirely฀of฀independent฀directors฀(with฀the฀exception฀of฀the฀
Executive฀Committee฀whose฀membership฀will฀include฀the฀Chairman฀of฀the฀Board).
Committee฀Agenda฀฀The฀Chair฀of฀each฀committee,฀in฀consultation฀with฀the฀appropriate฀members฀of฀the฀committee฀and฀management,฀will฀develop฀the฀
committee’s฀agenda฀for฀each฀meeting.฀Each฀committee฀will฀issue฀a฀schedule฀of฀agenda฀subjects฀to฀be฀discussed฀for฀the฀ensuing฀year฀at฀the฀beginning฀of฀
each฀year฀(to฀the฀degree฀these฀can฀be฀foreseen).฀
Assignment฀and฀Rotation฀of฀Committee฀Members฀฀The฀Corporate฀Responsibility฀and฀Governance฀Committee฀is฀responsible,฀after฀consultation฀with฀
the฀Chairman฀of฀the฀Board,฀for฀making฀recommendations฀to฀the฀Board฀with฀respect฀to฀the฀assignment฀of฀committee฀members฀and฀Chairs.฀After฀reviewing฀
the฀Corporate฀Responsibility฀and฀Governance฀Committee’s฀recommendations,฀the฀Board฀is฀responsible฀for฀appointing฀the฀committee฀Chairs฀and฀members.฀
Consideration฀will฀be฀given฀to฀rotating฀committee฀Chairs฀and฀members฀periodically฀at฀approximately฀three-year฀intervals,฀but฀the฀Board฀does฀not฀believe฀
that฀such฀a฀rotation฀should฀be฀mandated฀as฀a฀policy฀because฀there฀may฀be฀reasons฀at฀a฀given฀point฀in฀time฀to฀maintain฀an฀individual฀director’s฀committee฀
Chair฀or฀membership฀for฀a฀longer฀period.฀
Committee฀Reports฀฀At฀each฀Board฀meeting,฀the฀Chair฀of฀each฀committee,฀or฀his฀or฀her฀delegate,฀will฀report฀the฀matters฀considered฀and฀acted฀upon฀
by฀such฀committee฀at฀each฀meeting฀or฀by฀written฀consent฀since฀the฀preceding฀Board฀meeting,฀except฀to฀the฀extent฀covered฀in฀a฀written฀report฀to฀the฀full฀
Board.
VII.฀DIRECTOR฀ACCESS฀TO฀MANAGEMENT฀AND฀INDEPENDENT฀ADVISORS
Access฀to฀Management฀฀The฀Company฀expects฀and฀encourages฀its฀directors฀to฀have฀regular฀contact฀with฀the฀Company’s฀senior฀management.฀Accord-
ingly,฀the฀directors฀will฀have฀full฀access฀to฀the฀senior฀management฀of฀the฀Company.฀To฀assure฀that฀this฀access฀is฀not฀distracting฀to฀the฀business฀operations฀
of฀the฀Company,฀the฀directors฀are฀asked฀to฀advise฀the฀CEO฀when฀contacting฀any฀member฀of฀senior฀management.
Access฀to฀Independent฀Advisors฀฀The฀Board฀has฀the฀authority฀to฀engage฀independent฀legal,฀financial฀or฀other฀advisors,฀as฀it฀may฀deem฀necessary฀and฀
advisable฀in฀fulfilling฀its฀obligations฀and฀responsibilities,฀without฀consulting,฀or฀obtaining฀the฀approval฀of,฀management.฀Each฀committee฀of฀the฀Board฀will฀
also฀have฀such฀power.
VIII.฀DIRECTOR฀COMPENSATION
Compensation฀฀The฀Company฀believes฀that฀compensation฀for฀non-management฀directors฀should฀be฀competitive฀and฀should฀encourage฀increased฀owner-
ship฀of฀the฀Company’s฀stock฀through฀payment฀of฀a฀portion฀of฀the฀Company’s฀compensation฀in฀stock,฀deferred฀compensation฀stock฀equivalents฀or฀options฀to฀
purchase฀the฀Company’s฀stock.฀The฀Corporate฀Responsibility฀and฀Governance฀Committee฀will฀periodically฀report฀to฀the฀Board฀on฀the฀status฀of฀the฀Board’s฀
compensation฀in฀relation฀to฀other฀large฀publicly฀held฀companies.