Survey Results: Director Retirement Age

1. Does your company have a mandatory retirement age for directors? (Total responses: n=61)
(select only one)
n=44 (72.13%) Yes
n=17 (27.87%) No

2. If answer to #1 is "yes," does the retirement age differ for inside directors compared to outside directors? (Total responses: n=46)
(select only one)
n=12 (26.09%) Yes
n=34 (73.91%) No

3. If answer to #1 is "yes," what is that retirement age for outside directors? (Total responses: n=44)
(select only one)
n=14 (31.82%) Age 70
n=0 (0.00%) Age 71
n=20 (45.45%) Age 72
n=10 (22.73%) Older than Age 72

4. If answer to #1 is �yes,� is that retirement age stated: (Total responses: n=46)
(select only one)
n=34 (73.91%) In the corporate governance guidelines
n=6 (13.04%) In the bylaws
n=5 (10.87%) Both of the above
n=1 (2.17%) Other

5. If answer to #1 is �yes,� directors must retire: (Total responses: n=46)
(select only one)
n=3 (6.52%) At the next board meeting after reaching the retirement age
n=32 (69.57%) At the next annual shareholders� meeting after reaching the retirement age
n=11 (23.91%) Other