Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 221

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 221
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Other significant submissions, studies and reports 

6. Meetings of the board

(a)    The board normally holds seven (7) regular meetings per year.  Additional meetings may be scheduled as required to consider the range of items charged for consideration by the board.

(b)    An agenda for each board meeting and briefing materials will, to the extent practicable in light of the timing of matters that require board attention, be distributed to each director approximately five to seven days prior to each meeting.  The chairman, in consultation with the lead director will normally set the agenda for board meetings.  Any director may request the inclusion of specific items. 

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(c)    It is expected that each director will make every effort to attend each board meeting and each meeting of any committee on which he or she serves.  Attendance in person is preferred but virtual attendance is permitted if necessary.

(d)    Each director should be familiar with the agenda for each meeting, have carefully reviewed all other materials distributed in advance of the meeting, and be prepared to participate meaningfully in the meeting, and to discuss all scheduled items of business.

(e)    The proceedings and deliberations of the board and its committees are confidential.  Each director will maintain the confidentiality of information received in connection with his or her service as a director, and the chief executive officer, or those whom he or she has designated, will speak for the corporation. 

7. Independent directors

(a)    The board shall be composed of a majority of independent directors. The board may also include one or more directors who are not independent, but who, as officers of the majority shareholder, may be viewed as independent of the company’s management. 

(b)    In respect of each director to be appointed to fill a vacancy and each director to be nominated for election or re-election by the shareholders, the board shall make an express determination as to whether he or she is an independent director and, for a director who may become a member of the audit committee, whether he or she is an audit committee financial expert or financially literate. 

(c)    The term "independent", shall have the meaning as set out in applicable law, including on the basis of the standards specified by National Instrument 52-110 Audit Committees, the US. Securities and Exchange Commission rules and the listing standards of the NYSE American LLC. 

(d)    Independent directors will have full access to senior management of the corporation and other employees on request to discuss the business and affairs of