Corporate Governance | Committee Composition | Corporate Governance Guidelines | Code of Conduct and Ethics| Management Succession and Review
At least once a year, the CEO shall meet with the non-employee directors of TD Banknorth to discuss potential successors as CEO. The non-employee directors shall meet in executive session following such presentations to consider such discussions. The CEO also shall have in place at all times a confidential written procedure for the timely and efficient transfer of his or her responsibilities in the event of his or her sudden incapacitation or departure, including recommendations for longer-term succession arrangements. The CEO shall review this procedure periodically with the Board. The CEO also shall review periodically with the non-employee directors the performance and development of other key members of the senior management of TD Banknorth, as well as potential succession arrangements for such management members. Any waiver of the requirements of TD Banknorth's Code of Conduct and Ethics with respect to any such member of senior management shall be reported to, and be subject to the approval of, the Board of Directors. Date: Amended effective June 1, 2008 |
