CHARTER OF THE FINANCE COMMITTEE
2003 Finance Charter: FE
The purpose of the Finance Committee is to monitor and oversee the Company's financial resources and strategies, with emphasis on those issues that are long-term in nature.
The Committee shall be comprised of not fewer than three members of the Board, as shall be determined from time to time by the Board. The members of the Committee shall be appointed by the Board upon the recommendation of the Corporate Governance Committee of the Board. The majority of the members of the Committee shall qualify as "independent" as defined in the Corporate Governance Guidelines.
RESPONSIBILITIES AND AUTHORITY
The Finance Committee has the following responsibilities and authority:
1. The Committee shall review the Company's capital structure policies, long- and short-term debt levels, dividend policy, issuance of securities, exposure to fluctuation in interest rates, share repurchase programs and other financial matters deemed appropriate by the Board.
This Charter and any provision contained herein may be amended or repealed by the Board.