2003 Finance Charter: SYY

FINANCE COMMITTEE
CHARTER
The Finance Committee provides assistance to the Board of Directors in satisfying its fiduciary
responsibilities relating to financial performance and financial planning of the Corporation in
pursuing the financial objectives of the Corporation for the benefits of all its employees, customers
and shareholders.
General Description
  • The Finance Committee shall review the financial affairs of the Corporation so as to enhance the
    effectiveness of the Board of Directors in fulfilling its responsibilities in pursuing the financial
    objectives of the Corporation.
  • The Committee shall ensure that the Corporation has a planning and review cycle, which will
    allow the directors to understand the past, current and expected long-term performance of the
    Corporation.
  • The Committee shall make recommendations to the Board and management regarding financial
    policies and objectives to promote and maintain superior standards of performance.
    Organization
    The Finance Committee shall consist of at least three non-management members of the Board of
    Directors. Vacancies on the Committee shall be filled by the Board. The Board shall designate one
    member of the Committee to be Chair. In the absence of the Chairman at any duly called meeting
    of the Finance Committee at which a quorum is present, the Committee, by majority vote of those
    members present, shall designate one of said members to serve as Acting Chairman for the
    meeting if not previously designated.
    Duties and Responsibilities
    The Finance Committee, subject to approval by the entire Board of Directors when appropriate,
    shall in conjunction with appropriate staff:
    1. Review and recommend for approval policies governing capital adequacies, dividends,
    interest rate sensitivity and liquidity for the corporation;
    2. Review and approve policies regarding financial risk management, including the use of
    derivatives;
    3. Review and recommend to the Board actions regarding the sale or split of equity or issuance
    of debt securities;
    4. Review and recommend to the Board actions regarding the repurchase and retirement of debt
    or equity securities;
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    5. Review and recommend to the Board financing alternatives and structures for future
    acquisitions;
    6. Review potential significant acquisitions and make recommendation to the Board;
    7. Review the performance of significant acquisitions and transactions and report such findings
    to the Board;
    8. Review and report to the Board annually on the Corporation's strategic business plans
    including the strategies that support the plan;
    9. Review and recommend to the Board the Corporation's insurance risk management strategies;
    10. Review and approve banking lines of credit;
    11. Review and recommend to the Board the Corporation's tax strategies;
    12. Review this charter annually; and
    13. Review the performance of the Committee and its members annually.