36公司治理mark欢迎中央党校代表团

1、Corporate Governance公司治理Presentation to thePRC Central Party School欢迎代表团December 6, 2018corporategovernance公司治理图介INVESTMENT 投资$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股东MANAGEMENT公司管理层DIRECTORS董事会US Legal Framework美国法律框架Federal, state and international statutes、州和国际Common law fiduciary duties普通法信义义务U.S. Securities and Exchange Commission (SEC) is the primary nationalregulator of public company corporate governance 美国理的主要管理者委员会是公司

3、治Disclosure and substantive regulationStock exchange listing requirements信息披露和实体股票有相应的上市要求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公司治理最佳实践BOARD董事会Lead Independent Director with robust responsibilities领Board oversight of risk management董事会监督风险管理Annual self-evaluation of individual directors and Board as a whole个人董事和董事会整体年度自我评价Board oversight of active investor engagement program董事会监督积极投资者参与计划导董事All key commi

5、ttees made up of independent directors由独立董事组成的所有主要委员会Proactivrefreshment to drive diverse candidacy积Outsidservice limits for directors董事外服务限制极的董事会更新以促进多样化的候选人资格Board attune to CEO succession planning and contingency planning董事会对CEO继任计划和应急计划的调适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公司责任和可持续性问题，由董事会委员会并报告给全体董事会Commitment to keep averagtenure 10 years orbelow承诺保持董事会平均10年或以下STOCKHOLDER RIGHTS AND ENGAGEMENT股东权利与参与 Proxy accessSpecial meeting rights for stockholders股东特别会议权Annual Say-On-Pay vote 年度

7、薪资话语权Biennial vote on 2006 Equity Incentive Plan 2006两年度股权激励计划表决权限 Majority voting 多数表决 Robust two-way dialogue with investors稳健双向投资者对话PAY PRACTICES 薪资实践 Performance-based pay that uses a variety of performance measures and performance periods使用多种绩效衡量和绩效周期的绩效工资 Annual compensation review and risk as

8、sessment年度薪酬与风险评估 Stock ownership guidelines for all executive officersand directors所有执行董事和董事的股票所指南 Claw-back policy for all incentive plans所有激励计划的收回政策Independent compensation consultant assists Compensation Committee薪酬顾问协助薪酬委员会Limit onum incentive payouts最大激励限额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年以来，每一位高管和员工的薪酬都与公司责任因素有关。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美国公司治理的要素董事：Independent Board of DirectorsMajority of independent directors on board数席位Independent directors chair or co-chair all major committees under董事占董事会的多th董事出任所有董事会下属委员会或Strong role of institutional investors 机构投资者发挥强的作用Important

11、 role of intermediaries, such as external auditing andaccounting institutions 第事务所Strong securities regulation and punishment for wrong-doing = high机构的重要：如外部审计或会计师costs for violations of securities laws and regulations的监管与处罚=的成本高Sarbanes Oxle 萨班斯法案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英特尔公司的公司治理：英特尔股东和董事会Board can have 9-15 directors 董事会有9-15名董事Currently 8 independent, 2 employees (Cha

13、irman)目前有8名董事；1名来自英特尔(董事会)“Independence” per stock exchange rules所谓“”是依据证劵规定Executive Chairman of th席来自英特尔Committees and members set by th种委员会和其成员(employee)执行董事会主董事会决定设立各Audit, Compensation, Corporate Governance, Finance andExecutive审计、薪酬、财务、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经验丰富的、参与公司发展的董事会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多样性的董事会Independent Lead Director,Co-Founder andCEO, Workday, Inc.多样性种族多样性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 英特尔公司的公司治理：商业道德和法律合规 Intel Code of Conduct 英特尔行为准则C

17、onduct business honestly and with integrity; follow the letterand spirit of the law; avoids of interest; treat employeesfairly; protect Intels assets 诚实正直做事； 突；公平对待员工；保护公司；避免利益冲Training; multiple languages; website resources; “tone at the top”；“培训；多国语言；声音” Ethics and Compliance Oversight Committee 道

18、德合规监督委员会Reports to ths Audit Committee 向董事会审计委员会汇报 Compliance work by Legal, Human Resources, Internal Audit,Security and others合规工作由法律、人力及其他部门共同完成、内部审计、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英特尔公司的公司治理：管理层薪酬Pay-for-Performance 绩效薪酬CEO Pay Mix CEO 薪酬8%Claw-backs Policy 回补追索政策Scope: Return of Incentive Cash + EquityAward sale proceeds 范围：现金回报+股权出售所得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)总额由于后来的财务报表重述而膨胀了。 (ii) 高管对财务报表重述负责22%70%Base Salary底薪Incentive Cash现金Equity Awards股权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 现金股利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日趋活跃的股东2.5 million stockholders, top 100 own 50% of shares约250万股东，前100位占50%的Why: Belief that boards are too passive, the balance of powershould be reset with more stockholder authority：认为董事会太，权利平衡应该让股东拥

23、有权力Corporate governance 公司治理Proxy Access, virtual meeting, board diversity参与、会议以及董事会多元化Executive compensation 公司薪酬More controls + more disclosure = more votes+披露=投票Political contributions 政治捐款Risk management 风险管理Sustainability 可持续性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 日趋活跃的股东管理：和股东 Reduces friction and stockholder proposals 减少摩擦/股东建议Engage year-round with institutional and social investors - through conferences, road shows, etc. 每年通过会议和路演等保持与机构和投资者的。Inve