This excerpt taken from the AXCA 6-K filed Jan 27, 2006.
4. Orientation and Continuing Education
The Corporate Governance and Nominating Committee develops an orientation program for new directors addressing in particular, the role of the Board, the directors, and each Board Committee as well as the Corporation's business.
Also, every new director receives orientation consisting of informal discussions with senior members of management and other Board members concerning the role of the Board, its Committees and its directors and a Directors' Manual that covers Board and Committee responsibilities and provides information on the Corporation's structure and operation. The commitment needed from directors, particularly the commitment of time and energy, is made clear to directors prior to their nomination. While placing importance on achieving a balance of experience on the Board, critical attention is given in director selection and orientation to ensuring that all directors fully understand the pharmaceutical business.
Understanding of the nature and operation of the Corporation's business is imparted to new directors differently depending on their particular sets of skills and professional background. New directors who are also new to the pharmaceutical industry would receive more documentation and attention from senior members of management and other Board members than a new director with experience in the pharmaceutical industry.
The Committee ensures that the Corporation's directors are provided with continuing education opportunities in an effort to keep directors current in their knowledge and understanding of their role and the nature of the Corporation's business. All members of the Board are offered continuing educational tools; they can attend seminars and conferences related to the business of the Corporation and their roles as Board members. Members of management and other Board members bring these seminars and tools to their attention. Speakers are regularly invited to make presentations to the Board at Board meetings on subjects of interest relevant to the performance of their duties. The Corporation has reserved a budget for these activities.
Also, members of management of the Corporation make formal presentations concerning developments in the pharmaceutical industry, corporate governance and other subjects related to the Corporation at Board meetings.