2003 Finance Charter: SO

The Southern Company
Finance Committee
Charter
Function
The Finance Committee of the Board of Directors of The Southern Company (the "Committee") is
charged with responsibility for review and oversight of the financial policy, plans, and programs of
the Company (including its subsidiaries).
Duties and Responsibilities
The Committee shall:
  • Review the capital requirements and recommend a budget reflecting those requirements of the
    Company.
  • Review the dividend policy of the Company and recommend the dividend.
  • Review the financing programs of the Company, its cash flow, and the financing requirements of
    its subsidiaries.
    Membership
    The Committee shall be composed of at least three directors, and all members of the Committee
    shall be independent directors. The Committee and its Chairman shall be appointed annually by
    the Board of Directors.
    Meetings
    The Committee shall meet at such times as deemed appropriate by the Chairman of the
    Committee, any two members of the Committee, the Chief Executive Officer, or the Chief
    Financial Officer. A quorum for the transaction of any business by the Committee shall be a
    majority of the members of the Committee. The act of a majority of the directors serving at any
    meeting of the Committee at which a quorum is present shall be the act of the Committee.
    Evaluation
    The Committee shall evaluate annually its own performance.