Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 238

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 238
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eto as it may deem advisable.

(k)review and recommend to the board guidelines to be adopted relating to tenure of independent directors.

(l)provide recommendations to the board concerning committee structure of the board, committee operations, committee member qualifications, and committee member appointment.

(m)provide oversight and recommendations regarding director education.

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(n)review any allegation that an executive officer or director may have violated the corporation's Standards of Business Conduct and report its findings to the board and the general auditor.

(o)require attendances at its meetings by members of management, as the committee may direct.

(p)undertake such additional activities within the scope of its responsibilities as it may deem appropriate. 

5. Committee Evaluation

The committee will annually complete a self-evaluation of the committee's own performance and effectiveness and will consider whether any changes to the committee’s charter are appropriate. 

6. Resources and Authority of the Committee

The committee has the authority to retain such outside advisors, including legal counsel or other experts, as it deems appropriate, and to approve the fees and expenses of such advisors. Without limiting the foregoing, the committee will have sole authority to retain and terminate any search firm to be used by the committee to identify director candidates and any consultant used by the committee to evaluate non-employee director compensation.

Finance Committee Charter

1.Purpose of the Committee 

The primary purpose of the finance committee (the ‘committee’) is to provide oversight and guidance regarding the corporation’s capital structure/capital allocation, financial policies, practices and strategies.  The committee is responsible for ensuring that such matters align with the corporation’s strategy and are aimed at the generation of long-term value and shall take such action and make such reports and recommendations to the board of directors as it deems advisable.

2.Committee Membership 

The committee shall consist of no fewer than three members, to be appointed by the board of directors from among (a) the independent directors; and (b) the non-independent directors who are not members of the corporation’s management, who shall serve at the pleasure of the board, but only so long as he or she continues to be a director of the corporation. The actual number of members shall be determined from time to time by resolution of the board.  Members of the committee should be suitably knowledgeable in matters pertaining to corporate finance.

3.     Committee Structure and Operation 

The chair and vice-chair of the committee shall be designated by the board from among the members of the committee. The committee shall fix its own rules of procedure and