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1.
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Listed companies must
have a majority of independent directors |
Y - 10 independent,
1
management |
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2.
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Williams' independent
directors meet the NYSE standards for independent |
Y |
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3.
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Non-management directors
must meet regularly scheduled sessions without management |
At least twice per year |
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4.
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Must have a corporate
governance committee composed entirely of independent directors |
Y |
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5.
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Compensation committee
must be composed entirely of independent directors |
Y |
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6.
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Director's fees are the
only compensation an audit committee member may receive from the company |
Y |
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7.
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Audit committee has the
sole authority to hire and fire independent auditors and to approve
any significant non-audit relationship with the independent auditors |
Y |
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8.
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Shareholders must be given
the opportunity to vote on all equity-compensation plans, except inducement
options, plans relating to mergers or acquisitions and tax qualified
and excess benefit plans |
Y |
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9.
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Board of directors must
adopt and disclose corporate governance guidelines |
Y, please see the
Corporate Governance Guidelines. |
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10.
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Company must adopt and
disclose a code of business conduct and ethics for directors, officers
and employees, and promptly disclose any waivers of the code for directors
or executive officers |
Y, please see Williams'
Code of Business Conduct. |
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11.
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Listed foreign private
issuers must disclose ways their corporate governance practices differ
from the NYSE |
N/A |
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12.
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CEO must certify to the
NYSE each year that he/she is not aware of any violation of NYSE corporate
governance listing standards |
Y |