Document:

EX-10.30

 Exhibit 10.30 

SCHNEIDER NATIONAL, INC. 

DIRECTOR DEFERRED COMPENSATION PROGRAM 

ARTICLE I 
 PURPOSE 

The purpose of this Program is to allow Directors to defer all or part of their compensation received in respect of their services to the
Company. This Program is intended to satisfy the requirements of Section 409A of the Code. 
 ARTICLE II 

DEFINITIONS 
 The following words
and phrases as used herein shall have the following meanings: 
 “Account” has the meaning set forth in
Section 6.01(a) of this Program. 
 “Administrator” has the meaning set forth in Section 3.01 of this Program.

 “Beneficiary” means the person, persons or entity designated by the Participant to receive any benefits payable under
this Program. Any Participant’s Beneficiary designation shall be made in a written instrument filed with the Company and shall become effective only when received, accepted and acknowledged in writing by the Company. 

“Board” means the Board of Directors of the Company. 

“Cash Account” has the meaning set forth in Section 6.01(a) of this Program. 

“Change of Control” means the occurrence of Change of Control within the meaning of the Company Equity Plan (as of the date
of an applicable Deferral Election Agreement) that also constitutes a “change in the ownership of the Company”, “change in the effective control of the Company”, and/or a “change in the ownership of a substantial portion of
the Company’s assets”, in each case, within the meaning of Treasury Regulation Section 1.409A-3(i)(5) or such other regulation or guidance issued under Section 409A of the Code. 

“Claimant” has the meaning set forth in Section 9.01 of this Program. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, and the applicable rules and regulations
promulgated thereunder. 

 “Committee” means the Compensation Committee of the Board, or such other
committee that the Board may designate for purposes of the Program. 
 “Common Stock” means the Class B common stock,
no par value per share, of the Company. 
 “Company” means Schneider National, Inc., a corporation organized under the laws
of the State of Wisconsin, or any successor corporation. 
 “Company Equity Plan” means the Schneider National, Inc. 2017
Omnibus Incentive Plan, as amended or restated from time to time, or any successor plan thereto. 
 “Deferred Stock Unit
Awards” means the portion of Director Compensation that the Company elects to pay in the form of restricted stock units or other awards of Common Stock, under a Company Equity Plan or otherwise. 

“Deferral Election Agreement” means a deferral agreement, on such form as may be prescribed by the Committee, executed and
filed by a Participant prior to the beginning of the first period for which the Participant’s Director Compensation is to be deferred pursuant to this Program. A new Deferral Election Agreement shall be executed and filed by a Participant for
each Director Compensation deferral election. 
 “Director” means an individual who is a member of the Board. 

“Director Compensation” means the amount paid to a Director by the Company as compensation for the Director’s services
in that capacity, including, without limitation, annual or quarterly retainers for serving as a Director, awards of Common Stock for serving as a Director, fees for serving as a committee member, fees for serving as chairperson of a committee, and
fees for attendance at meetings of the Board and committees thereof. 
 “Disability” means a Participant’s becoming
disabled within the meaning of Section 409A(a)(2)(C) of the Code. 
 “Eligible Investment Option” has the meaning set
forth in Section 6.02(a) of this Program. 
 “Equity Account” has the meaning set forth in Section 6.01(a) of
this Program. 
 “Equity Awards” means Deferred Stock Unit Awards and Stock Retainer Awards, collectively. 

“Extension Notice” has the meaning set forth in Section 9.01 of this Program. 

  
 2 

 “Investment Fund” has the meaning set forth in Section 6.02(c) of this
Program. 
 “Participant” means each individual who participates in this Program, as provided in Section 4.01 of this
Program. 
 “Program” means this Schneider National, Inc. Director Deferred Compensation Program, as amended or restated
from time to time. 
 “Program Year” means the twelve (12) month period beginning on January 1 of each calendar
year and ending on December 31 of such calendar year. 
 “Stock Retainer Awards” means any Director Compensation that
the applicable Director elects to receive in the form of Common Stock. 
 ARTICLE III 

ADMINISTRATION 
 SECTION
3.01.    Administration. This Program shall be administered by the individuals serving the Company in the following positions (or positions or titles of similar import): (i) Vice President, Compensation &
Benefits; (ii) Director, Compensation; and (iii) Executive Vice President – Chief Administrative Officer (collectively, the “Administrator”), who shall have full authority to construe and interpret this Program, to
establish, amend and rescind rules and regulations relating to this Program, and to take all such actions and make all such determinations in connection with this Program as he may deem necessary or desirable. Subject to Article IX of this Program,
decisions of the Administrator shall be reviewable by the Committee. Subject to Article IX of this Program, the Committee shall also have the full authority to make, amend, interpret, and enforce all appropriate rules and regulations for the
administration of this Program and decide or resolve any and all questions, including interpretations of this Program, as may arise in connection with this Program. 

SECTION 3.02.    Binding Effect of Decisions. Subject to Article IX of this Program, the decision or action of the
Administrator or Committee in respect to any question arising out of or in connection with the administration, interpretation and application of this Program and the rules and regulations promulgated hereunder shall be final, conclusive and binding
upon all persons having any interest in this Program. 
 SECTION 3.03.    Indemnification. To the fullest extent
permitted by law, the Administrator, the Committee and the Board (and each member thereof), and any employee of the Company to whom fiduciary responsibilities have been delegated shall be indemnified by the Company against any claims, and the
expenses of defending against such claims, resulting from any action or conduct relating to the administration of this Program, except claims arising from gross negligence, willful neglect or willful misconduct. 

  
 3 

 ARTICLE IV 

PARTICIPATION 
 SECTION
4.01.    Eligible Participants. Participation in this Program shall be limited to Directors who are not employees of the Company or any of its subsidiaries and who elect to participate in this Program by filing a Deferral
Election Agreement with the Company. 
 ARTICLE V  

DEFERRALS AND ELECTIONS 
 SECTION
5.01.    Initial Deferral Election Agreement. Each new Participant in this Program may file an irrevocable Deferral Election Agreement to defer payment of all or part of his Director Compensation to be earned during the
Program Year in which the Director becomes a Participant in this Program and to have the Participant’s Account(s) credited with such deferred amounts. In order to make a deferral pursuant to this Section 5.01, the Participant must file an
executed Deferral Election Agreement with the Company. This Deferral Election Agreement must be filed within thirty (30) days of the date on which the Director becomes eligible to participate in this Program (or in any other account balance
Program described in Treasury Regulation Section 1.409A-1(c)(2)(i)(A), or any successor provision thereto) and shall be effective with respect to compensation earned after the date of filing thereof. 

SECTION 5.02.    Annual Deferral Election Agreement. A Participant may file a Deferral Election Agreement on an
annual basis to defer payment of all or part of his Director Compensation to be earned during the next succeeding Program Year and to have the Participant’s Account(s) credited with such deferred amounts. In order to make a deferral pursuant to
this Section 5.02, the Participant must file an executed Deferral Election Agreement with the Company. The Deferral Election Agreement must be filed not later than, and such Deferral Election Agreement shall become irrevocable on, the last
business day prior to the commencement of the Program Year to which the Deferral Election Agreement relates. Until a Deferral Election Agreement becomes irrevocable, it may be superseded by another Deferral Election Agreement or revoked in writing
by the Participant. 
 SECTION 5.03.    Elective Deferred Director Compensation. 

(a)    Each Deferral Election Agreement entered into by a Participant for any Program Year shall, at the Participant’s
election, state the following amounts, if any, that shall, in each applicable case, be deferred and credited to such Participant’s Account(s) on the respective dates on which, absent such deferral election, such amounts would otherwise become
payable or, in the case of Equity Awards, payable or settled (whichever is later): 

  
 4 

 (i)     the amount, expressed as a percentage (in whole
numbers only) from 10% to 100%, of the portion of the annually or quarterly paid retainer fees that the Participant elects to receive in cash for serving as a Director for the following Program Year; and/or 

(ii)    the amount, expressed as a percentage (in whole numbers only) from 10% to 100%, of cash fees, if
any, for performing committee or other services for the Company or any other services at the request of the chairman of the Board for the following Program Year; and/or 

(iii)    the entire amount of Deferred Stock Unit Awards granted to such Participant in the following
Program Year; and/or 
 (iv)    the entire amount of the Stock Retainer Awards payable to such
Participant in the following Program Year; and/or 
 (v)    the entire amount of dividend payments or
dividend equivalent payments in respect of Equity Awards which are granted to such Participant in the following Program Year. 

(b)    Each Deferral Election Agreement entered into by a Participant shall also contain an election specifying the
distribution date on which the amounts deferred pursuant to such election (and any amounts credited or debited thereto) shall be distributed from such Account(s) in accordance with Article VII below. In the case of cash deferrals only, each such
election may also contain an investment election providing for the manner in which such amounts shall be notionally invested in accordance with Section 6.02. 

SECTION 5.04.    Applicability of Deferral Election Agreement. A Deferral Election Agreement that is not superseded
or revoked shall remain effective until the end of the Program Year. 
 ARTICLE VI 

DEFERRAL ACCOUNTS 
 SECTION
6.01.    Accounts. 
 (a)    Once a Participant enters into a Deferral Election Agreement that
becomes irrevocable on the last business day prior to the commencement of the Program Year to which the Deferral Election Agreement relates, the Company shall thereupon establish for such Participant a deferred compensation account or accounts, as
applicable (each an “Account”), to which amounts shall be credited as hereinafter provided. A Participant’s “Cash Account” shall be credited with any cash amounts deferred under the Plan by the Participant and
any other cash amounts credited hereunder. A Participant’s “Equity Account” shall be credited with any Equity Awards deferred under the Plan by the Participant (including any dividend or dividend equivalent payments under
Equity Awards deferred in accordance with the Plan). 

  
 5 

 (b)    Each Participant’s Account shall be increased by any deferred
Director Compensation credited to or reduced by the amount of all distributions, if any, made from such Account. 

(c)    Notwithstanding anything to the contrary herein, a Participant shall not be permitted at any time to allocate
amounts deferred into his Cash Account to the Participant’s Equity Account or allocate Equity Awards deferred into the Participant’s Equity Account to the Participant’s Cash Account. 

SECTION 6.02.    Investment Elections. 

(a)    In connection with amounts credited to his Cash Account, a Participant may elect under his Deferral Election
Agreement (i) one or more investment options selected by the Company, in its sole discretion, for the purpose of crediting or debiting additional amounts to his Cash Account (each such investment option, an “Eligible Investment
Option”), and (ii) the portion of the Participant’s deferred cash amounts to be allocated to each such Eligible Investment Option. Earnings shall be credited or debited to a Participant’s Account in a manner compliant with
Treasury Regulation Section 1.409A-1(o). 
 (b)    Notwithstanding anything to
the contrary herein, nothing in the Plan shall require the Company to offer or continue to offer any particular investment option. In the event that the Company ceases to offer a particular investment option, each Participant shall be permitted to
allocate amounts previously allocated to such discontinued investment option to one or more remaining Eligible Investment Options. The Company shall have no obligation to actually invest any funds or hold any property in respect of the notional
investments described in this Section 6.02.
 (c)    If a Participant does not make an investment election as
described in Section 6.02(a) and (b) under his Deferral Election Agreement, then the Participant’s Cash Account shall be deemed invested in the Investment Fund from and after the applicable date of credit until the date of payment from
such Cash Account. The “Investment Fund” means a notional fund which is deemed to consist of U.S. Treasury Notes with seven (7) years remaining to maturity, plus an additional one percent (1%) annual rate of return, with the
annual rate set at the first business day of the December preceding the start of each Program Year. 
 SECTION
6.03.    Crediting of Equity Account. With respect to any Equity Award credited to a Participant’s Equity Account, if a Participant is entitled, in accordance with the terms of the applicable Company Equity Plan or
applicable award agreement, to receive settlement of such Equity Award in the form of cash, or to receive any cash dividend or cash dividend equivalent payments, and such payments are deferred in accordance with the Plan, such payments shall be
deemed invested in shares of Common Stock based on the Fair Market Value (within the meaning of the applicable Company Equity Plan) of the shares of Common Stock on the applicable payment date. Further, if a Participant is entitled, in accordance
with the terms of the applicable Company Equity Plan or applicable award agreement, to receive dividends or dividend 

  
 6 

 
equivalent payments in the form of shares of Common Stock, and such payments are deferred in accordance with the Plan, such payments shall be credited to such Participant’s Equity Account.
Equity Awards credited to a Participant’s Equity Account are subject to adjustment under any applicable provision of the applicable Company Equity Plan under which they were granted. 

SECTION 6.04.    Vesting of Accounts. A Participant shall be 100% vested in his Account(s) at all times. 

ARTICLE VII 
 DISTRIBUTIONS 

SECTION 7.01.    Form of Payment. Distributions from a Participant’s Cash Account shall be made in one lump
sum in cash. Distributions from each Participant’s Equity Account shall be made in one lump sum, with Equity Awards allocated to such account distributed in actual shares of Common Stock. For purposes of determining the number of shares of
Common Stock to be distributed pursuant to this Section 7.01, the value of Equity Awards shall be considered equal to the closing price per share of Common Stock as reported on the New York Stock Exchange on the last business day prior to the
day the distribution is made; provided that any fractional shares shall be converted to cash based on the closing price per share of Common Stock as reported on the New York Stock Exchange on the last business day prior to the day the
distribution is made. All distributions under the Plan in the form of Company Stock shall be distributed pursuant to the applicable Company Equity Plan, and will count against the limit on the number of shares of Company Stock available for issuance
thereunder. 
 SECTION 7.02.    Payment Events. Distributions from a Participant’s Account shall be made in
a single lump-sum distribution on the last business day of the month following the month in which the earliest of the following events occurs: 

(a)    the Participant’s “separation from service” (within the meaning of Section 409A of the Code); 

(b)     a nondiscretionary and objectively determinable calendar date (within the meaning of Treasury Regulation Section 1.409A-3(i)(1)) selected by the Participant under the Deferral Election Agreement (if any); 

(c)    the Participant’s Disability (as provided in Section 7.03 below); or 

(d)    the Participant’s death. 

SECTION 7.03.    Disability. In the Deferral Election Agreement, the Participant shall make an election with
respect to the treatment of his Account(s) in the event of his Disability. The Participant may elect (i) to receive distribution of his Account(s) in the event of his Disability, or (ii) notwithstanding his Disability, to receive
distribution of his Account(s) upon the occurrence of an event set forth in clauses (a), (b) or (d) in Section 7.02. 

  
 7 

 SECTION 7.04.    Unforeseeable Emergency. The Administrator may, in
its sole and absolute discretion and subject to the requirements and restrictions under Section 409A of the Code, make a partial or total distribution of the Participant’s Account(s) upon the Participant’s request and a demonstration by
the Participant of an “unforeseeable emergency” (as defined in Section 409A of the Code). 
 SECTION
7.05.    Change in Election. No change in a Participant’s payment election shall be valid unless it is made in a Deferral Election Agreement that is executed and filed with the Company in accordance with this
Section 7.05. Any change in a Participant’s payment election with respect to his Account(s) may not take effect until at least twelve (12) months after the date on which the election is made in a Deferral Election Agreement that is
executed and filed with the Company, and shall otherwise comply with Treasury Regulation Section 1.409A-2(b). The first payment with respect to which the election is made must be deferred for a period of not
less than five years from the date such payment would otherwise have been made. 
 ARTICLE VIII  

EFFECT OF CORPORATE TRANSACTIONS 

SECTION 8.01.    Change in Control. Notwithstanding anything contained in this Program to the contrary, upon a
Change in Control, the Company shall distribute to each Participant the entire amount in such Participant’s Account(s) (determined as of the date of such distribution, taking into account any adjustments provided for in Article VI). 

ARTICLE IX 
 CLAIMS PROCEDURE 

SECTION 9.01.    Claims. In the event any person or his authorized representative (a “Claimant”)
disputes the amount of, or his entitlement to, any benefits under this Program or their method of payment, such Claimant shall file a claim in writing with, and on the form prescribed by, the Administrator for the benefits to which he believes he is
entitled, setting forth the reason for his claim. The Claimant shall have the opportunity to submit written comments, documents, records and other information relating to the claim and shall be provided, upon request and free of charge, reasonable
access to and copies of all documents, records or other information relevant to the claim. The Administrator shall consider the claim and within ninety (90) days of receipt of such claim, unless special circumstances exist which require an
extension of the time needed to process such claim, the Administrator shall inform the Claimant of its decision with respect to the claim. In the event of special circumstances, the response period can be extended for an additional ninety
(90) days, as long as the Claimant receives written notice advising of the special circumstances and the date by which the Administrator expects to make a determination (the “Extension Notice”) before the end of the initial
ninety (90) day response period indicating the reasons for the extension and the date by which a decision is expected to be made. 

  
 8 

 SECTION 9.02.    Appeal of Denial. A Claimant whose claim is denied by
the Administrator and who wishes to appeal such denial must request a review of the Administrator’s decision by filing a written request with the Committee for such review within sixty (60) days after such claim is denied. Such written
request for review shall contain all relevant comments, documents, records and additional information that the Claimant wishes the Committee to consider, without regard to whether such information was submitted or considered in the initial review of
the claim by the Administrator. In connection with that review, the Claimant may submit such written comments as may be appropriate. Written notice of the decision on review shall be furnished to the Claimant within sixty (60) days after
receipt by the Committee of a request for review. In the event of special circumstances which require an extension of the time needed for processing, the response period can be extended for an additional sixty (60) days, as long as the Claimant
receives an Extension Notice. The Claimant shall be notified no later than five days after a decision is made with respect to the appeal. 

SECTION 9.03.    Statute of Limitations. A Claimant wishing to seek judicial review of an adverse benefit
determination under this Program, whether in whole or in part, must file any suit or legal action within three (3) years of the date the final decision on the adverse benefit determination on review is issued or should have been issued under
Section 9.02 of this Program or lose any rights to bring such an action. If any such judicial proceeding is undertaken, the evidence presented shall be strictly limited to the evidence timely presented to the Administrator. Notwithstanding
anything in this Program to the contrary, a Claimant must exhaust all administrative remedies available to such Claimant under this Program before such Claimant may seek judicial review. 

ARTICLE X  
 BENEFICIARY
DESIGNATION 
 SECTION 10.01.    Beneficiary Designation. Each Participant shall have the right, at any time, to
designate any person, persons, entity or entities as his Beneficiary or Beneficiaries (both primary as well as contingent) to whom payment under this Program shall be paid in the event of his death prior to complete distribution to the Participant
of the benefits due him under this Program. 
 SECTION 10.02.    Amendments. Any Beneficiary designation may be
changed by a Participant by the written filing of such change on a form prescribed by the Company. The new Beneficiary designation form shall cancel all Beneficiary designations previously filed. 

SECTION 10.03.    No Beneficiary Designation. If a Participant fails to designate a Beneficiary as provided above,
or if all designated Beneficiaries predecease the Participant, then any amounts to be paid to the Participant’s Beneficiary shall be paid to the Participant’s estate. 

  
 9 

 SECTION 10.04.    Effect of Payment. The payment under this
Article X of the amounts due to a Participant under this Program to a Beneficiary shall completely discharge the Company’s obligations in respect of the Participant under this Program. 

ARTICLE XI  
 AMENDMENT AND
TERMINATION OF PROGRAM 
 SECTION 11.01.    Amendment. The Board or the Committee may, from time to time, make
such amendments to this Program as it may deem proper and in the best interest of the Company; provided, however, that, subject to Section 11.03 of this Program, no amendment shall be effective to decrease or restrict any
applicable Participant’s Account(s) at the time of such amendment. 
 SECTION 11.02.    Company’s Right to
Terminate. The Board or the Committee may terminate this Program at any time with respect to future deferrals of Director Compensation if, in its judgment, the continuance of this Program, the tax, accounting, or other effects thereof, or
potential payments thereunder would not be in the best interests of the Company. The Board or the Committee may also terminate this Program in its entirety at any time, and, upon any such termination, the Company shall immediately pay to each
Participant in a lump sum the then remaining balance in his Account(s), subject to and in accordance with the requirements of Treasury Regulation Section 1.409A-3(j)(4)(ix) (or any successor provision
thereto). 
 SECTION 11.03.    Section 409A. If, in the good faith judgment of the Committee,
any provision of this Program or any Deferral Election Agreement could otherwise cause any person to be subject to the interest and penalties imposed under Section 409A of the Code, such provision shall be modified by the Committee in its sole
discretion to maintain, to the maximum extent practicable, the original intent of the applicable provision without causing the interest and penalties under Section 409A of the Code to apply, and, notwithstanding any provision therein to the
contrary, the Committee shall have broad authority to amend or to modify this Program or any Deferral Election Agreement, without advance notice to or consent by any person, to the extent necessary or desirable to ensure that no Accounts are subject
to tax under Section 409A of the Code. Any determinations made by the Committee under this Section 11.03 shall be final, conclusive and binding on all persons. 

ARTICLE XII 
 MISCELLANEOUS 

SECTION 12.01.    Unsecured General Creditor. Participants and their Beneficiaries shall have no legal or equitable
rights, interest or claims in any property or assets of the Company. The assets of the Company shall not be held under any trust for the benefit of Participants or their Beneficiaries or held in any way as collateral security for the fulfilling of
the obligations of the Company under this Program. Any and all of the Company’s assets shall be, and remain, the general, unpledged, unrestricted assets of the Company. The Company’s obligation under this Program shall be merely that of an
unfunded and unsecured promise of the Company to pay money in the future. 

  
 10 

 SECTION 12.02.    Nonassignability. Each Participant’s rights
under this Program shall be nontransferable except by will or by the laws of descent and distribution. Subject to the foregoing, neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, pledge, anticipate,
mortgage or otherwise encumber, transfer, hypothecate or convey in advance of actual receipt the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to which are, expressly declared to be nonassignable and non-transferable. No part of the amounts payable shall, prior to actual payment, be subject to seizure or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant
or any other person, nor be transferable by operation of law in the event of a Participant’s or any other person’s bankruptcy or insolvency. 

SECTION 12.03.    Rights and Obligations. Nothing in this Program shall be deemed to create any obligation on the
part of the Board to nominate any Director for reelection by the Company’s shareholders or to limit the rights of the shareholders to remove any Director. 

SECTION 12.04.    Binding Effect. This Program shall be binding upon and shall inure to the benefit of the
Participant or his Beneficiary, his heirs and legal representatives, and the Company. 
 SECTION 12.05.    Protective
Provisions. A Participant will cooperate with the Company by furnishing any and all information requested by the Company, in order to facilitate the payment of benefits hereunder, and by taking such other action as may be requested by the
Company. 
 SECTION 12.06.    Withholding. To the extent that the Company is required to withhold any taxes or
other amounts from the Participant’s deferred compensation pursuant to any state, federal or local law, such amounts shall first be taken out of the portion of the Participant’s Director Compensation that is not deferred under this
Program. To the extent required by the law in effect at the time payments are made, the Company shall withhold from payments made hereunder any taxes or other amounts required to be withheld for any federal, state or local government and other
authorized deductions. 
 SECTION 12.07.    Severability. In the event that any provision or portion of this
Program shall be determined to be invalid or unenforceable for any reason, the remaining provisions and portions of this Program shall be unaffected thereby and shall remain in full force and effect to the fullest extent permitted by law. 

SECTION 12.08.    Governing Law. This Program shall be construed under the laws of the State of Wisconsin, to the
extent not preempted by federal law. 

  
 11 

 SECTION 12.09.    Headings. The section headings in this document are
for ease of reference only and shall not be controlling with respect to the application and interpretation of this Program. 
 SECTION
12.10.    Rules of Construction. Any words herein used in the masculine shall be read and construed in the feminine where they would so apply. Words in the singular shall be read and construed as though used in the plural
in all cases where they would so apply. All references to sections are, unless otherwise indicated, to sections of this Program. This Program is intended to meet the requirements of Section 409A of the Code and shall be interpreted and
construed consistent with such intent. 
 SECTION 12.11.    Effective Date. This Program shall be effective as of
the date of its adoption by the Board, and shall be effective with respect to Director Compensation for services on and after such date. 

  
 12Exhibit

Exhibit 10.40

Tiffany & Co.
(a Delaware corporation)

Corporate Governance Principles

(as adopted by the full Board of Directors on January 15, 2004 and last amended on March 6, 2017)

		
	1.
	Director Qualification Standards; Size of the Board; Audit Committee Service; Director Nominations and Resignations.

a.At least a majority of the directors shall meet the independence requirements set forth in Section 303A.02 of the New York Stock Exchange Corporate Governance Rules.  A director shall not be deemed to have met such independence requirements unless the Board has affirmatively determined that it be so.  In making its determination of independence, the Board shall broadly consider all relevant facts and circumstances and assess the materiality of each director’s relationship(s) with the Corporation and/or its subsidiaries (directly or as a partner, shareholder or officer of any organization that has a relationship with the Corporation).  Further, in making its determination of independence for any director who will serve on the Compensation Committee, the Board shall also consider all factors specifically relevant to determining whether each such director has a relationship to the Corporation that is material to his or her ability to be independent from management in connection with the duties of a Compensation Committee member, including, but not limited to, the requirements set forth in Section 303A.02(a)(ii) of the New York Stock Exchange Corporate Governance Rules.  If a director is determined by the Board to be independent, all relationships, if any, that such director has with the Corporation and/or its subsidiaries which were determined by the Board to be immaterial to independence shall be disclosed in the Corporation’s annual proxy statement.

b.A director shall be younger than age 74 when elected or appointed and a director shall not be recommended for re‐election by the stockholders if such director will be age 74 or older on the date of the annual meeting or other election in question, provided that the Board of Directors may, by specific resolution, waive the provisions of this sentence with respect to an individual director whose continued service is deemed uniquely important to the Corporation.

c.A director need not be a stockholder to qualify as a director, but shall be encouraged to hold stock in the Corporation by virtue of its policies with respect to stock ownership by directors.

d.Consistent with 1.a. above, candidates for director shall be selected on the basis of their business experience, expertise and skills, with a view to supplementing the business experience, expertise and skills of management and adding further substance and insight into board discussions and oversight of management.  The Nominating/Corporate Governance Committee is responsible for developing, and recommending to the Board, criteria for the selection of new directors, for identifying individuals qualified to become directors, and for recommending to the Board director nominees for the next annual meeting of the stockholders.  In connection with such recommendation, the Nominating/Corporate Governance Committee will specifically consider each then current director’s continued service on the Board and 

whether each such director should be recommended for re‐nomination to the Board.  Each then current director will be given an opportunity to confirm his or her desire to continue as a member of the Board.

e.From time to time, the Nominating/Corporate Governance Committee will recommend to the Board the optimal number of directors constituting the entire Board, such number to be within the range authorized pursuant to the By‐laws.  Based upon that recommendation, the current nature and scope of the Corporation’s business, and the experience, expertise and skills of the existing roster of directors, the Board believes that twelve directors is an appropriate number at this time.

f.The Board shall be responsible for determining whether each member of the Audit Committee is financially literate and confirming that at least one member of the Audit Committee has accounting or related financial management expertise, in each case as set forth in Section 303A.07 of the New York Stock Exchange Corporate Governance Rules.  The Board shall further have responsibility for determining the qualification of an individual to serve on the Audit Committee as a designated “audit committee financial expert,” as required by the applicable rules of the SEC under Section 407 of the Sarbanes‐Oxley Act.  In addition, to serve on the Audit Committee, a director must meet the standards for independence set forth in Section 301 of the Sarbanes‐Oxley Act.  To those ends, the Nominating/Corporate Governance Committee will coordinate with the Board in screening any new candidate to serve on the Audit Committee and in evaluating whether to re‐nominate any existing director who may serve on the Audit Committee.  If an Audit Committee member simultaneously serves on the audit committees of more than three public companies, then, in the case of each such Audit Committee member, the Board shall determine that such simultaneous service would not impair the ability of such member to effectively serve on the Corporation’s Audit Committee and disclose such determination in the Corporation’s annual proxy statement.

g.Any director who, since the time such director was most recently elected to the Board, changes his or her employer or otherwise has a significant change in job responsibilities, or who accepts or intends to accept a directorship with another public company (or with any other organization that would require a significant time commitment) shall (1) advise the secretary of the Corporation of such change or directorship and (2) submit to the Nominating/Corporate Governance Committee, in care of the secretary, a signed letter, addressed to such Committee, resigning as a director of the Corporation effective upon the acceptance of such resignation by such Committee, but void ab initio if not accepted by such Committee within ten (10) days of receipt by the secretary.  The secretary of the Corporation shall promptly advise the members of the Nominating/Corporate Governance Committee of the change or directorship and the receipt of such a letter.  The Nominating/Corporate Governance Committee shall promptly determine, in light of the circumstances, whether to accept or decline such resignation.  In some instances, taking into account all relevant factors and circumstances, it may be appropriate for the Nominating/Corporate Governance Committee to decline such resignation, but recommend to the Board that the director cease participation on one or more committees or that the director not be re‐nominated to the Board.

h.The Corporation has amended its By‐Laws to provide for majority voting in the election of directors.  In uncontested elections, directors are elected by a majority of the votes 

I ‐ 2

cast, which means that the number of shares voted “for” a director must exceed the number of shares voted “against” that director.  The Nominating/Corporate Governance Committee (or comparable committee of the Board) shall establish procedures for any director who is not elected to tender his or her resignation.  The Nominating/Corporate Governance Committee will make a recommendation to the Board on whether to accept or reject the resignation, or whether other action should be taken.  The Board will act on the Nominating/Corporate Governance Committee’s recommendation within 90 days following certification of the election results.  In determining whether or not to recommend that the Board of Directors accept any resignation, the Nominating/Corporate Governance Committee shall be entitled to consider all factors believed relevant by such Committee’s members.  Unless applicable to all directors, the director(s) whose resignation is under consideration is expected to recuse himself or herself from the Board vote to accept or reject the resignation.  Thereafter, the Board will promptly disclose its decision regarding the director’s resignation (including the reason(s) for rejecting the resignation, if applicable) in a Form 8‐K furnished to the Securities and Exchange Commission.  If the Board accepts a director’s resignation pursuant to this process, the Nominating/Corporate Governance Committee shall recommend to the Board whether to fill such vacancy or reduce the size of the Board.  If, for any reason, the Board of Directors is not elected at an annual meeting, they may be elected thereafter at a special meeting of the stockholders called for that purpose in the manner provided in the By‐laws.

i.Including service on the Board of Directors of the Corporation, no director shall serve on the board of directors (or any similar governing body) of more than five public companies.

		
	2.
	Attendance and Participation at Board and Committee Meetings.

a.Directors are expected to attend the six regularly scheduled board meetings in person, if practicable, or by telephone, if attendance in person is impractical.  Directors should attempt to organize their schedules in advance so that attendance at all regularly scheduled board meetings will be practicable.

b.For committees on which they serve, directors are expected to attend regularly scheduled meetings in person, if practicable, or by telephone, if attendance in person is impractical or if telephone participation is the expected means of participation.  For committees on which they serve, directors should attempt to organize their schedules in advance so that attendance at all regularly scheduled committee meetings will be practicable.

c.Directors shall make all reasonable efforts to attend, in person or by telephone, specially scheduled meetings of the Board or those committees on which they serve.

d.Directors shall, to the fullest extent practicable, review in advance all meeting materials provided by management, the other directors and consultants or advisors to the Board.

e.Directors are expected to comply with the policies and procedures of the Corporation with respect to business conduct, ethics, confidential information and ownership of, and trading in, the Corporation’s securities.

I ‐ 3

f.Nothing stated herein shall be deemed to limit the duties of directors under applicable law.

		
	3.
	Director Access to Management and Independent Advisors.

a.Executive officers of the Corporation and its subsidiaries shall make themselves available, and shall arrange for the availability of other members of management, employees and consultants, so that each director shall have full and complete access with respect to the business, finances and accounting of the Corporation and its subsidiaries.

b.The chief financial officer and the chief legal officer of the Corporation shall regularly attend Board meetings (other than those portions of Board meetings that are reserved for independent or non‐management directors or those portions in which the independent or non‐management directors meet privately with the chief executive officer, other members of management or the Corporation’s independent accountants).  The Board encourages the chief executive officer to invite other executive and non‐executive officers to Board meetings from time to time in order to provide additional insight into items being discussed and so that the Board may meet and evaluate persons with potential for advancement.

c.If the charter of any Board committee on which a director serves provides for access to independent advisors, any executive officer of the Corporation will be authorized to arrange for the payment of the reasonable fees of such advisors at the request of such a committee acting by resolution or unanimous written consent.

		
	4.
	Director Compensation.

a.Directors shall be compensated in a manner and at a level sufficient to encourage exceptionally well qualified candidates to accept service on the Board and to retain existing directors.  The Board believes that a meaningful portion of a director’s compensation should be provided in, or otherwise based upon appreciation in the market value of, the Corporation’s Common Stock.  Compensation of the Directors shall be determined by the Nominating/Corporate Governance Committee.

b.In determining the form and amount of director compensation, the Nominating/Corporate Governance Committee shall retain an independent advisor to provide such Committee with advice, which shall include reference to data drawn from public company filings with respect to the fees and emoluments paid to outside directors by comparable public companies.

c.Contributions to charities with which an independent or non‐management director is affiliated will not be used as compensation to such a director, and management will make efforts to avoid any appearance of impropriety in connection with such contributions, if any.  Contributions made during any fiscal year to charitable organizations with which directors are affiliated, through membership on the governing board of such charitable organizations, shall be disclosed in the Corporation’s annual proxy statement for such year.

d.Management will advise the Board should the Corporation or any subsidiary wish to enter into any direct financial arrangement with any director for consulting or advisory 

I ‐ 4

services, or into any financial arrangement with any entity affiliated with such director by which the director may be indirectly benefited, and no such arrangement shall be consummated without specific authorization from the Board.

		
	5.
	Director Orientation and Continuing Education.

a.Each executive officer of the Corporation shall be available to and meet with any new director and provide an orientation into the business, finance and accounting of the Corporation.

b.Each director shall be reimbursed, at such director’s request, for reasonable expenses incurred in pursuing continuing education with respect to his/her role and responsibilities to the stockholders and under law as a director.

		
	6.
	Management Succession.

a.The Board, assisted by the Nominating/Corporate Governance Committee, shall select, evaluate the performance of, and make determinations to retain or replace, the chief executive officer.  Such evaluations and determinations will be made with (i) a view to the effectiveness and execution of strategies propounded by, and decisions made by, the chief executive officer with respect to the Corporation’s long‐term strategic plan and long‐term financial returns and (ii) applicable legal and ethical considerations.

b.In furtherance of the foregoing responsibilities, and in contemplation of the retirement, or an exigency that requires the replacement, of the chief executive officer, the Board shall, in conjunction with the chief executive officer, evaluate the performance and potential of the other executive officers.  More generally, the Board, assisted by the Nominating/Corporate Governance Committee, shall participate in the planning for the succession of the other executive officers.

		
	7.
	Annual Performance Evaluation of the Board.

a.The Nominating/Corporate Governance Committee is responsible for assisting the Board in the Board’s oversight of the Board’s own performance in the area of corporate governance.

b.Annually, each independent director will participate in an assessment and evaluation of the Board’s performance.  The independent directors of each committee of the Board will also annually participate in an assessment and evaluation of such committee’s performance.  The results of such self‐assessments will be discussed with the full Board.

		
	8.
	Matters for Board Review, Evaluation and/or Approval.

a.The Board is responsible under the law of the State of Delaware to review and approve significant actions by the Corporation, including major transactions (such as material acquisitions and financings), declaration of dividends, issuance of securities and appointment of officers of the Corporation.  The Board, with the assistance of the Audit Committee, shall annually review, and, if acceptable, approve, a delegation of authority policy that delineates the 

I ‐ 5

matters that shall be reserved for Board approval from those matters that may be delegated to management.

b.The Board is responsible for reviewing and approving or ratifying any transaction, arrangement or relationship in which:  (i) the aggregate amount involved will, or may be expected to, exceed $120,000 in any fiscal year, (ii) the Corporation or any of its subsidiaries is a participant, and (iii) any Related Person has or will have a direct or indirect material interest (other than solely as a result of being a director or trustee or in any similar position, or a less than 10% beneficial owner, of another entity) (each, a “Related Person Transaction”).  For purposes of this item 8.b, a “Related Person” shall be any person who at any time since the beginning of the last fiscal year of the Corporation was a director or executive officer of the Corporation, a nominee for director, a stockholder owning of record or beneficially more than 5% of any class of the Corporation’s voting securities and an immediate family member (as defined in Item 404(a) of Regulation S‐K promulgated under the Securities Exchange Act of 1934, as amended (the “Act”)) of any such person.  The Corporation’s chief legal officer, having been informed of any potential or planned Related Person Transaction in accordance with the Corporation’s applicable policies and procedures, shall promptly advise the Nominating/Corporate Governance Committee.  The Committee shall then review such transaction and, where the Committee determines in its business judgment that it is in the best interest of the Corporation, recommend such transaction for approval or ratification to the Board.  In making such determination, the Committee and the Board shall broadly consider all relevant facts and circumstances, including the identity and position of the Related Person, the extent of the Related Person’s interest in the transaction, the business purpose for and reasonableness of the transaction (particularly in light of alternatives), the terms of the transaction and the materiality of the transaction to the Related Person and the Corporation.  The Board, directly or through its Nominating/Corporate Governance Committee, may adopt additional policies and procedures with respect to Related Party Transactions, which may provide for certain exceptions to the review and approval requirements set forth above.  The provisions of this item 8.b are in addition to, and not intended to modify, item 4.d above.  The Corporation’s policies and procedures for the review, approval or ratification of Related Person Transactions shall be disclosed in the Corporation’s annual proxy statement.

c.The Board is responsible, either through its Nominating/Corporate Governance Committee, or as guided by such Committee, for reviewing and approving any proposed service by an executive officer of the Corporation as a director of any other public company.  In considering such approval, the Committee and the Board shall broadly consider all relevant facts and circumstances.

d.The Board is responsible, either through its committees, or as guided by its committees, for those matters which are set forth in the respective charters of the Audit, Nominating/Corporate Governance, Compensation and Corporate Social Responsibility Committees or as otherwise set forth in the applicable laws of the state of Delaware, the applicable Federal laws of the United States and in the corporate governance rules of the New York Stock Exchange.

e.The following matters, among others, will be the subject of Board deliberation on such occasions as the Board may determine necessary or desirable, but as least as often as 

I ‐ 6

required by applicable law or by the corporate governance rules of the New York Stock Exchange:

i.the Board will review and, if acceptable, approve the Corporation’s operating plan for each fiscal year, as developed and recommended by management;

ii.the Board will review actual performance against the operating plan;

iii.the Board will review and, if acceptable, approve the Corporation’s multi‐year strategic plan, as developed and recommended by management;

iv.at least annually, the Board will review and discuss management’s enterprise risk assessment;

v.the charters of all Board Committees will be reviewed and, if appropriate, modified, by the Board;

vi.the delegation of authority to officers and employees for day‐to‐day operating matters of the Corporation and its subsidiaries will be reviewed and, if acceptable, approved by the Board; and

vii.the Corporation’s policies or programs with respect to the payment of dividends and the repurchase of the Corporation’s securities will be reviewed and, if acceptable, approved by the Board.

		
	9.
	Management’s Responsibilities.

Management is responsible for operating the Corporation with the objective of achieving the Corporation’s operating and strategic plans and building value for stockholders on a long‐term basis.  In executing those responsibilities, management is expected to act in accordance with the policies and standards established by the Board (including these principles), as well as in accordance with applicable law and for the purpose of maintaining the value of the trademarks and business reputation of the Corporation’s subsidiaries.  Specifically, the chief executive officer and the other executive officers are responsible for:

a.producing, under the oversight of the Board and the Audit Committee, financial statements for the Corporation and its consolidated subsidiaries that fairly present the financial condition, results of operation, cash flows and related risks in accordance with generally accepted accounting principles, for making timely and complete disclosure to investors in accordance with applicable laws, and for keeping the Board and the appropriate committees of the Board informed on a timely basis as to all matters of significance;

b.developing and presenting the strategic plan, proposing amendments to the plan as conditions and opportunities dictate and implementing the plan as approved by the Board;

c.developing and presenting the annual operating plan and budget and for implementing that plan as approved by the Board;

I ‐ 7

d.identifying, assessing and managing risks that may arise in the Corporation’s operations and ensuring that the Board is appropriately aware of any such material risks;

e.creating an organizational structure appropriate to the achievement of the strategic and operating plans of the Corporation and recruiting, selecting and developing the necessary managerial talent to execute on such plans;

f.creating a working environment conducive to integrity, business ethics and compliance with applicable laws and the requirements of the Corporation’s policies;

g.developing, implementing and monitoring an effective system of internal controls and procedures to provide reasonable assurance that:  the Corporation’s transactions are properly authorized; the Corporation’s assets are safeguarded against unauthorized or improper use; and the Corporation’s transactions are properly recorded and reported.  Such internal controls and procedures also shall be designed to permit preparation of financial statements for the Corporation and its consolidated subsidiaries in conformity with generally accepted accounting principles and any other legally required criteria applicable to such statements; and

h.establishing, maintaining and evaluating the Corporation’s disclosure controls and procedures.  The term “disclosure controls and procedures” means controls and other procedures of the Corporation that are designed to ensure that information required to be disclosed by the Corporation in the reports filed or submitted by it under the Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms.  Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by the Corporation in the reports it files or submits under the Act is accumulated and communicated to the Corporation’s management, including its principal executive and financial officers, as appropriate to allow timely decisions regarding required disclosure.  To assist in carrying out this responsibility, management has established a Disclosure Control Committee, whose membership is responsible to the Audit Committee, to the chief executive officer and to the chief financial officer, and includes the following officers or employees of the Corporation:  the executive officers primarily responsible for global retail sales, merchandising and manufacturing; the chief legal officer, the chief information officer, the controller, the heads of internal audit & financial planning and analysis, the investor relations officer and the treasurer.

		
	10.
	Leadership Structure and Meeting Procedures.

a.The Board shall determine whether the offices of chairman of the board and chief executive officer shall be held by one person or by separate persons, and whether the person holding the office of chairman of the board shall be “independent”.  An “independent” director meets the requirements for “independence” as referenced in item 1.a above.  “Non‐management” directors include those who are independent and those who, while not independent, are not currently employees of the Corporation or one of its subsidiaries.  In determining which director shall serve as chairman of the Board, the Board shall broadly consider all relevant facts and circumstances as well as the director’s business experience, specific areas of expertise and skill set, including his or her ability to effectively moderate discussions during Board meetings and 

I ‐ 8

his or her responsiveness to the Board’s suggestions for agenda items and information to be provided by management to the Board.

b.The chairman of the board will establish the agenda for each Board meeting, but the chairman of the board will include in such agenda any item submitted by the presiding independent director (see item 11.e below).  Each Board member may suggest the inclusion of items on the agenda for any meeting, and the chairman of the board will consider them for inclusion.

c.Management shall be responsible for distributing information and data that is necessary for the Board to understand the matters to be considered and acted upon by the Board; such materials shall be, to the fullest extent practicable, distributed in written form to the Board sufficiently in advance of Board meetings so as to provide reasonable time for review and evaluation.  To that end, management has provided each director with access to a secure website where confidential and sensitive materials may be viewed.  In circumstances where practical considerations do not permit advance circulation of written materials, reasonable steps shall be taken to allow more time for discussion and consideration, such as extending the duration of a meeting or circulating unanimous written consent forms, which may be considered and returned at a later time.

d.The chairman of the board shall preside over meetings of the Board; in his or her absence, the presiding independent director or another director identified by the presiding independent director shall preside.

e.If the chairman of the board is not independent, the independent directors shall select from among themselves a “presiding independent director”; failing such selection, the chairman of the Nominating/Corporate Governance Committee shall be the presiding independent director.  The presiding independent director shall be identified as such in the Corporation’s annual proxy statement.  The presiding independent director shall approve meeting agendas and schedules for the Board, chair meetings of the independent and non‐management directors, serve as a liaison between the chairman of the Board and the independent directors, and serve to facilitate communications by stockholders and employees with the non‐management directors.  The presiding independent director shall also have the authority to call meetings of the independent directors.

f.The non‐management directors shall meet separately from the other directors in regularly scheduled executive session, without the presence of management directors and executive officers of the Corporation.  As set forth in item 10.e above, the presiding independent director shall preside over such meetings.

g.At least once per year the independent directors shall meet separately from the other directors in a scheduled executive session, without the presence of management directors, non‐management directors who are not independent and executive officers of the Corporation.  As set forth in item 10.e above, the presiding independent director shall preside over such meetings.

I ‐ 9

h.The Board, with the assistance of the Nominating/Corporate Governance Committee, shall reassess the appropriateness of the Board leadership structure as warranted, including following changes in management, board composition or in the nature, scope or complexity of the Corporation’s operations.

		
	11.
	Committees.

a.The Board shall have an Audit Committee, a Compensation Committee and a Nominating/Corporate Governance Committee, which shall have the respective responsibilities described in the charters of each committee.  The membership of each such committee shall consist only of independent directors.

b.The Board may, from time to time, appoint one or more additional committees, such as a Finance Committee, a Dividend Committee and a Corporate Social Responsibility Committee.

c.The chairman of each Board committee, in consultation with the appropriate members of management, will develop the committee’s agenda.  Management will assure that, as a general rule, information and data necessary to the committee’s understanding of the matters within the committee’s authority and the matters to be considered and acted upon by a committee are distributed to each member of such committee sufficiently in advance of each such meeting or action taken by written consent to provide a reasonable time for review and evaluation.

d.At each regularly scheduled Board meeting, the chairman of each committee or his or her delegate shall report the matters considered and acted upon by such committee at each meeting (unless the full Board was present at such committee meeting), or by written consent, since the preceding regularly scheduled Board meeting.  Such report may be effected by the distribution to the full Board of the minutes of any such meeting or any such written consent.

e.The secretary of the Corporation, or any assistant secretary of the Corporation, shall be available to act as secretary of any committee and shall, if invited, attend meetings of the committee and prepare minutes of the meeting for approval and adoption by the committee.  Once so approved and adopted, the secretary or assistant secretary shall sign the minutes, which signature will thereafter indicate the Committee’s approval and adoption.

		
	12.
	Reliance.

Any director of the Corporation shall, in the performance of such person’s duties as a member of the Board or any committee of the Board, be fully protected in relying in good faith upon the records of the Corporation or upon such information, opinions, reports or statements presented by any of the Corporation’s officers or employees, or committees of the Board, or by any other person as to matters the director reasonably believes are within such other person’s professional or expert competence.

		
	13.
	Reference to Corporation’s Subsidiaries.

Where the context so requires, reference herein to the Corporation includes reference to the Corporation and/or any direct or indirect subsidiary of the Corporation whose financial 

I ‐ 10

results are consolidated with those of the Corporation for financial reporting purposes, and reference to a subsidiary of the Corporation shall be reference to such a subsidiary.

I ‐ 11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00268-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00268-of-00352.parquet"}]]