36公司治理mark歡迎中央黨校代表團(tuán)

1、Corporate Governance公司治理Presentation to thePRC Central Party School歡迎代表團(tuán)December 6, 2018corporategovernance公司治理圖介INVESTMENT 投資$Copyright 2018 Intel Corporation.s. Intel and the Intel logo are trademarks of Intel Corporation in the U.S. and other countries.2*Other names and brands may be claimed as t

2、he property of others.STOCKHOLDERS股東MANAGEMENT公司管理層DIRECTORS董事會(huì)US Legal Framework美國(guó)法律框架Federal, state and international statutes、州和國(guó)際Common law fiduciary duties普通法信義義務(wù)U.S. Securities and Exchange Commission (SEC) is the primary nationalregulator of public company corporate governance 美國(guó)理的主要管理者委員會(huì)是公司

3、治Disclosure and substantive regulationStock exchange listing requirements信息披露和實(shí)體股票有相應(yīng)的上市要求Copyright 2018 Intel Corporation.s. Intel and the Intel logo are trademarks of Intel Corporation in the U.S. and other countries.3*Other names and brands may be claimed as the property of others.Corporate Gover

4、nance Best Practices公司治理最佳實(shí)踐BOARD董事會(huì)Lead Independent Director with robust responsibilities領(lǐng)Board oversight of risk management董事會(huì)監(jiān)督風(fēng)險(xiǎn)管理Annual self-evaluation of individual directors and Board as a whole個(gè)人董事和董事會(huì)整體年度自我評(píng)價(jià)Board oversight of active investor engagement program董事會(huì)監(jiān)督積極投資者參與計(jì)劃導(dǎo)董事All key commi

5、ttees made up of independent directors由獨(dú)立董事組成的所有主要委員會(huì)Proactivrefreshment to drive diverse candidacy積Outsidservice limits for directors董事外服務(wù)限制極的董事會(huì)更新以促進(jìn)多樣化的候選人資格Board attune to CEO succession planning and contingency planning董事會(huì)對(duì)CEO繼任計(jì)劃和應(yīng)急計(jì)劃的調(diào)適Director retirement age policy董事退休政策Corporate responsibil

6、ity and sustainability issues reviewed by Board Committees and reported to full Board公司責(zé)任和可持續(xù)性問題，由董事會(huì)委員會(huì)并報(bào)告給全體董事會(huì)Commitment to keep averagtenure 10 years orbelow承諾保持董事會(huì)平均10年或以下STOCKHOLDER RIGHTS AND ENGAGEMENT股東權(quán)利與參與 Proxy accessSpecial meeting rights for stockholders股東特別會(huì)議權(quán)Annual Say-On-Pay vote 年度

7、薪資話語權(quán)Biennial vote on 2006 Equity Incentive Plan 2006兩年度股權(quán)激勵(lì)計(jì)劃表決權(quán)限 Majority voting 多數(shù)表決 Robust two-way dialogue with investors穩(wěn)健雙向投資者對(duì)話PAY PRACTICES 薪資實(shí)踐 Performance-based pay that uses a variety of performance measures and performance periods使用多種績(jī)效衡量和績(jī)效周期的績(jī)效工資 Annual compensation review and risk as

8、sessment年度薪酬與風(fēng)險(xiǎn)評(píng)估 Stock ownership guidelines for all executive officersand directors所有執(zhí)行董事和董事的股票所指南 Claw-back policy for all incentive plans所有激勵(lì)計(jì)劃的收回政策Independent compensation consultant assists Compensation Committee薪酬顧問協(xié)助薪酬委員會(huì)Limit onum incentive payouts最大激勵(lì)限額Anti-hedging policy反套期保值政策A portion of

9、 every executives and employees compensationlinked to corporate responsibility factors since 20084自2008年以來，每一位高管和員工的薪酬都與公司責(zé)任因素有關(guān)。Copyright 2018 Intel Corporation.s. Intel and the Intel logo are trademarks of Intel Corporation in the U.S. and other countries.4*Other names and brands may be claimed as

10、 the property of others.Key Elements in US Corporate Governance美國(guó)公司治理的要素董事：Independent Board of DirectorsMajority of independent directors on board數(shù)席位Independent directors chair or co-chair all major committees under董事占董事會(huì)的多th董事出任所有董事會(huì)下屬委員會(huì)或Strong role of institutional investors 機(jī)構(gòu)投資者發(fā)揮強(qiáng)的作用Important

11、 role of intermediaries, such as external auditing andaccounting institutions 第事務(wù)所Strong securities regulation and punishment for wrong-doing = high機(jī)構(gòu)的重要：如外部審計(jì)或會(huì)計(jì)師costs for violations of securities laws and regulations的監(jiān)管與處罰=的成本高Sarbanes Oxle 薩班斯法案Copyright 2018 Intel Corporation.s. Intel and the In

12、tel logo are trademarks of Intel Corporation in the U.S. and other countries.5*Other names and brands may be claimed as the property of others.Corporate Governance at Intel:Intel Stockholders and th英特爾公司的公司治理：英特爾股東和董事會(huì)Board can have 9-15 directors 董事會(huì)有9-15名董事Currently 8 independent, 2 employees (Cha

13、irman)目前有8名董事；1名來自英特爾(董事會(huì))“Independence” per stock exchange rules所謂“”是依據(jù)證劵規(guī)定Executive Chairman of th席來自英特爾Committees and members set by th種委員會(huì)和其成員(employee)執(zhí)行董事會(huì)主董事會(huì)決定設(shè)立各Audit, Compensation, Corporate Governance, Finance andExecutive審計(jì)、薪酬、財(cái)務(wù)、公司治理和提名Copyright 2018 Intel Corporation.s. Intel and the I

14、ntel logo are trademarks of Intel Corporation in the U.S. and other countries.6*Other names and brands may be claimed as the property of others.Skilled, Engaged and Evolving Board經(jīng)驗(yàn)豐富的、參與公司發(fā)展的董事會(huì)Chairman of th of Directors, Intel CorporationPrincipal, REH Advisors LLCProfessor, University of Pennsyl

15、vaniaCFO, EVP,Enterprise Performance & Strategy, The Boeing CompanyExecutive Chairman, CamberView Partners LLCChairman and CEO, Medtronic plc多樣性的董事會(huì)Independent Lead Director,Co-Founder andCEO, Workday, Inc.多樣性種族多樣性CEO,Electronic Arts, Inc.LIUProfessor, University of California, BerkeleyCopyright 201

16、8 Intel Corporation.s. Intel and the Intel logo are trademarks of Intel Corporation in the U.S. and other countries.7*Other names and brands may be claimed as the property of others.Corporate Governance at Intel: Business Ethics and LegalCompliance 英特爾公司的公司治理：商業(yè)道德和法律合規(guī) Intel Code of Conduct 英特爾行為準(zhǔn)則C

17、onduct business honestly and with integrity; follow the letterand spirit of the law; avoids of interest; treat employeesfairly; protect Intels assets 誠(chéng)實(shí)正直做事； 突；公平對(duì)待員工；保護(hù)公司；避免利益沖Training; multiple languages; website resources; “tone at the top”；“培訓(xùn)；多國(guó)語言；聲音” Ethics and Compliance Oversight Committee 道

18、德合規(guī)監(jiān)督委員會(huì)Reports to ths Audit Committee 向董事會(huì)審計(jì)委員會(huì)匯報(bào) Compliance work by Legal, Human Resources, Internal Audit,Security and others合規(guī)工作由法律、人力及其他部門共同完成、內(nèi)部審計(jì)、安全Copyright 2018 Intel Corporation.s. Intel and the Intel logo are trademarks of Intel Corporation in the U.S. and other countries.8*Other names an

19、d brands may be claimed as the property of others.Corporate Governance at Intel: Executive Compensation英特爾公司的公司治理：管理層薪酬P(guān)ay-for-Performance 績(jī)效薪酬CEO Pay Mix CEO 薪酬8%Claw-backs Policy 回補(bǔ)追索政策Scope: Return of Incentive Cash + EquityAward sale proceeds 范圍：現(xiàn)金回報(bào)+股權(quán)出售所得Triggers: (i) those amounts had been in

20、flateddue to financial results which later had to be re-stated; and (ii) the executive engaged in conduct contributing to the reason for restatementTriggers: (i)總額由于后來的財(cái)務(wù)報(bào)表重述而膨脹了。 (ii) 高管對(duì)財(cái)務(wù)報(bào)表重述負(fù)責(zé)22%70%Base Salary底薪Incentive Cash現(xiàn)金Equity Awards股權(quán)9Copyright 2018 Intel Corporation.s. Intel and the Int

21、el logo are trademarks of Intel Corporation in the U.S. and other countries.9*Other names and brands may be claimed as the property of others.PAY FOR PERFORMANCE薪酬INCENTIVE CASH 現(xiàn)金股利Copyright 2018 Intel Corporation.s. Intel and the Intel logo are trademarks of Intel Corporation in the U.S. and other

22、 countries.10*Other names and brands may be claimed as the property of others.Stockholder activism日趨活躍的股東2.5 million stockholders, top 100 own 50% of shares約250萬股東，前100位占50%的Why: Belief that boards are too passive, the balance of powershould be reset with more stockholder authority：認(rèn)為董事會(huì)太，權(quán)利平衡應(yīng)該讓股東擁

23、有權(quán)力Corporate governance 公司治理Proxy Access, virtual meeting, board diversity參與、會(huì)議以及董事會(huì)多元化Executive compensation 公司薪酬More controls + more disclosure = more votes+披露=投票Political contributions 政治捐款Risk management 風(fēng)險(xiǎn)管理Sustainability 可持續(xù)性Copyright 2018 Intel Corporation.s. Intel and the Intel logo are trad

24、emarks of Intel Corporation in the U.S. and other countries.11*Other names and brands may be claimed as the property of others.Managing Stockholder Activism: Engagement with Stockholders 日趨活躍的股東管理：和股東 Reduces friction and stockholder proposals 減少摩擦/股東建議Engage year-round with institutional and social investors - through conferences, road shows, etc. 每年通過會(huì)議和路演等保持與機(jī)構(gòu)和投資者的。Inve