2003 Committee Charter : USG

Charter of the Executive Committee

Corporate Authorization and Purpose
The Executive Committee is one of the six standing committees of the Board of Directors specified under Article IV, Section 1 of the Corporation's by-laws. The by-laws provide that such Committee shall have and may exercise all the authority of the board of directors during the intervals between meetings of the Board of Directors in the management of the business and affairs of the corporation. The Committee shall consist of not less than four members of the board of directors and shall include the chairman of the board of directors and the president and/or a vice chairman as members.

Organization
The Executive Committee of the Corporation shall consist of at least four directors, a majority of whom shall be independent as such term is defined by the New York Stock Exchange listing standards and among whose members shall be the Chairman of the Board of Directors and the President. The Committee shall report on its activities to the Board and make such recommendations and findings as it deems appropriate.

Authority
Subject to applicable law, the Executive Committee shall have the authority to exercise, to the extent determined necessary or appropriate by the Executive Committee, all the authority of the Board of Directors in the management of the business and affairs of the Corporation during the intervals between Board meetings.

Back to Board Committees