Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 239

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 239
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 shall meet where and as provided by such rules or by resolution of the committee. 

The chair, or in that person's absence, the vice-chair or in the vice-chair's absence, an alternate designated by the committee, shall: 

(a)preside at committee meetings; 

(b)ensure that meetings of the committee are held in accordance with this charter; and 

(c)review, and modify if necessary the agenda of the meetings of this committee in advance to ensure that the committee may effectively carry out its duties. 

A majority of the members of the committee shall constitute a quorum thereof. Every question shall be decided by a majority of the votes cast on the question and in the case of an equality of votes, the chair of the meeting shall be entitled to a second or casting vote. 

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The committee shall designate its secretary.

Meetings of the committee may be called by any member.

The committee shall act only on the affirmative vote of a majority of the members at a meeting or by unanimous written consent.

The committee may establish subcommittees consisting of one or more members to carry out such duties as the committee may delegate.

4.Committee Activities 

The following shall be the common recurring activities of the committee in carrying out its purpose. These activities are set forth as a guide with the understanding that the committee may diverge from this guide as appropriate given the circumstances.

The committee shall:

(a)review, as the committee deems appropriate, the corporation’s capital structure / capital allocation, and its financial policies, practices and strategies, which may include the following:

i.financial outlook and financing plan;

ii.dividend policies and share repurchase programs;

iii.investment of pension assets and the funding of pension obligations;

iv.capital plan including significant capital appropriations;

v.issuance of equity or debt securities; and

vi.significant investments, acquisitions and divestitures by the corporation, including discussion of possible mergers and other transactions, and their financial impact.

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

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

The committee will make such reports and recommendations to the board with respect thereto as it may deem advisable.

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,