Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 218

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 218
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 receive restricted stock units from Imperial. •The executive resources committee (“committee”) reviews and approves annual compensation recommendations for each named executive officer prior to implementation. Health care benefits•Named executive officers are eligible to participate in their respective Company’s health care programs (medical, dental, prescription drug, and vision care) on the same basis as other employees; no special provisions apply.Tax assistance•Tax assistance is provided for employees on expatriate assignment. This assistance consists primarily of a tax equalization component designed to maintain the employees’ overall income tax burden at approximately the same level had they remained in their home country. The expatriate relocation program is broad-based and applies to all executive, management, professional and technical transferred employees. Payments in the event of death•The only event that results in acceleration of vesting for outstanding restricted stock awards is death.•Executive’s estate or beneficiaries would be entitled to receive the applicable death benefits as described above this table, a distribution of the executive’s savings plan balances, and payment of company-provided life insurance.

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 Appendix A- Board of director and committee charters

Board of Directors Charter

The structure, process and responsibilities of the board of directors of the corporation shall include the following items and matters:

1. Responsibility 

The board of directors shall be responsible for the stewardship of the corporation and provide oversight of management of the corporation, aimed at giving effect to the corporation’s strategy and sustainably generating long-term value.

2. Duty of care 

The directors, in exercising their powers and discharging their duties, shall:

(a)act honestly and in good faith with a view to the best interests of the corporation; and 

(b)exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances. 

3. Stewardship process 

In order to carry out their responsibility for stewardship within their duty of care, the directors shall, directly or through one or more committees of directors, 

(a)contribute to the formulation of and approve strategic plans on at least an annual basis;

(b)identify the principal risks of the corporation's business where identifiable and oversee the implementation of appropriate systems to manage such risks; 

(c)provide oversight regarding succession planning for senior management, including the appointing, training and monitoring thereof;

(d)approve the corporate disclosure guidelines and monitor the external communications of the corporation;

(e)provide oversight regarding the integrity of the corporation's internal control and management information systems;

(f)provide oversight regarding the integrity of the corporation's information technology and systems to