Patents

Board Committees

Board Committees

The Board of Directors has the following committees: Audit, Executive, Investment, Nominating & Corporate Governance, Organization & Compensation, and Technology. Only directors meeting the Securities and Exchange Commission’s ("SEC") and the New York Stock Exchange’s ("NYSE") director independence standards may serve on the Audit Committee, the Nominating & Corporate Governance Committee and the Organization & Compensation Committee.

The Board of Directors has determined that each member of the Audit Committee, the Nominating & Corporate Governance Committee and the Organization & Compensation Committee is independent according to SEC and NYSE requirements. Additionally the Board of Directors has determined that each member of the Audit Committee is “financially literate,” as defined in the NYSE listing standards, and that Messrs. D’Amelio and Garratt and Dr. Bono meet the definition of “SEC Audit Committee Financial Expert,” as defined by the SEC.