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Corporate Governance

At Eagle, we believe that corporate governance is fundamental to all of our business dealings, our reputation with shareholders and within the larger investment community and, ultimately, is crucial to our success. Both management and the Board are committed to high standards of corporate governance in all aspects of our business and our operations, including regular and open communication with shareholders and full and transparent disclosure in our business transactions and financial reporting.

Duties of the Board
The Board is responsible for the stewardship of Eagle. The Board has direct responsibility for such matters as strategic planning, assessing opportunities and risks of the business, and ensuring that systems are in place to manage those risks. The Board approves annual operating and capital budgets, equity issues and has established long-term debt parameters within which Eagle is expected to operate. The Board meets regularly to consider matters of a wide ranging nature, including the level of monthly dividends, and to decide on matters that could have a major impact on our operations, such as acquisitions, financing decisions and material corporate matters. Management operates the business on a day-to-day basis, in accordance with such specific responsibilities and expectations as are set by the Board. These include conducting business in a cost-effective manner and the execution of a growth strategy to sustain Eagle's dividend-focused model. There is regular contact between the directors and management, which allows for open and timely dialogue and decision making.

Board Composition
Each year, directors are elected by shareholders at the Annual General Meeting. The Board is responsible for nominating new directors with appropriate experience and skill sets. To ensure non-partisan leadership, the Board currently consists of one management member and three independent directors. All directors and committees, individually or as a whole, have the right to retain independent legal counsel or other professional advisors. The Board also has the right to, and regularly does, meet without management present. All of the independent directors serve on a committee. Each committee meets as required, and all directors are asked to attend each Board meeting, and meetings of the committee on which they serve.

Board Committees
To help discharge its responsibilities, the Board operates with three committees, all comprised of non-management directors.

Reserves & Governance Committee
The Reserves & Governance Committee is responsible for reviewing the year-end reserves evaluation report prepared by independent engineers and, subject to this review, recommending its acceptance to the Board. Its second mandate is to ensure that the process of corporate governance is ingrained in the structure and functioning of the Board. This committee is also charged with ensuring the Board is aware of new developments and current legislation regarding corporate governance and the responsibilities of directors.

Audit Committee
The Audit Committee is responsible for overseeing Eagle's accounting and financial reporting processes. The committee meets with management to review the quarterly financial statements and directly with Eagle's external auditors to review the annual financial statements, both prior to presentation to the Board for approval.

Compensation Committee
The Compensation Committee is charged with recommending reasonable compensation for directors and management and implementing the equity-based and incentive compensation plans, policies and programs. These recommendations are presented to the Board for review and approval.

Code of Business Conduct and Ethics
Eagle has adopted a written code of business conduct and ethics that encourages and promotes a culture of ethical business conduct by its directors, management, employees and consultants.

  Code of Conduct

Majority Voting Policy
Eagle has adopted a Majority Voting Policy pursuant to which, in an uncontested election of directors, if a director does not receive the support of a majority of the votes cast at the annual meeting of shareholders in his or her favor, that director will offer to resign from the Board, to be effective upon acceptance by the Board. The Reserves & Governance Committee will expeditiously consider the director's offer to resign and make a recommendation to the Board whether to accept it. The Board will make its decision and announce it in a news release within 90 days following the annual meeting, including the reasons for rejecting the resignation, if applicable. A director who tenders a resignation pursuant to the Majority Voting Policy will not participate in any meeting of the Reserves & Governance Committee or the Board at which the resignation offer is considered. Eagle will file the complete voting results regarding all items of business conducted at the shareholders annual meeting on SEDAR including the number of votes cast for and withheld from each individual director.

  Majority Voting Policy

Health, Safety and Environment
High standards of health and safety and a commitment to the environment (HS&E) are an integral part of Eagle's strategic and economic decision making. Prior to acquiring a property, Eagle conducts a thorough review to ensure the asset has no significant safety or environmental liabilities.

Eagle is currently the operator on all of its properties with the exception of its Dixonville property in Alberta. For properties that Eagle does not operate, Eagle's core business strategy is to partner with respected operators with technical and field experience, and those with a demonstrated record of high standards of performance with regards to HS&E.

Eagle recognizes that health and safety are paramount for our partners and contractors in both the drilling and production phases, and for all those who come in contact with our operations, including landowners and local communities. We endeavor to ensure that they have a record of compliance with government regulations and industry standards. We also require assurance that drilling projects are designed and conducted, and facilities constructed and operated in a manner that minimizes environmental impacts and promotes the health and safety of all those who could be impacted by our operations. This emphasis on high standards of HS&E is important to Eagle, as well as being integral for our partners, contractors, the residents and stakeholders near our operations and, ultimately, for our shareholders.


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   > CORPORATE GOVERNANCE
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   > AREAS OF OPERATIONS

    NEWS

  July 4, 2017
Eagle’s 2017 Annual Meeting Result Challenged by Unsuccessful Dissidents

  June 29, 2017
Eagle Energy Inc. Announces Proactive Amendments to its Four Year Term Loan Agreement

  June 27, 2017
Eagle's Directors Re-Elected at the Annual General Meeting


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