According to a news release, the 2004 guidelines include:
- setting the golden parachute payout limit to 2.99% of the average salary in the previous three-year period
- establishing stock option plans that allow vesting of less than two years as a signal to vote against the plan
- voting against management proposals where potential dilution from all stock option plans is greater than 10%.
The committee members include one representative each from the firm’s legal, social research, investment operations and investment management departments.
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