Political Contribution Policy SummaryPOLITICAL ACTIVITIES
Albemarle is committed to participating constructively in the political process with the ultimate goal of advancing and protecting the best interests of the company and our stockholders and employees.
The political process significantly impacts Albemarle through government policies, legislation and regulatory decisions. Through our participation, we promote legislative and regulatory actions that further Albemarle’s business objectives and work to protect the company from unreasonable, unnecessary or burdensome legislative or regulatory actions at all levels of government. We are fully committed to conducting our political activities in compliance with all applicable campaign finance laws and reporting requirements and in accordance with the Albemarle Corporation Political Contribution Policy.Federal Contributions
The company maintains the Albemarle Corporation Political Action Committee (Albemarle PAC), which is registered with the Federal Election Commission and permitted to make contributions at the federal level. Albemarle PAC provides eligible employees with the opportunity to support candidates who have demonstrated support for the principles to which the Company is dedicated. The political contributions made by Albemarle PAC are funded entirely by the voluntary contributions from eligible employees. A committee composed of Albemarle’s President & Chief Executive Officer, Senior Vice President, General Counsel, Corporate and Government Affairs, and other senior officers of the company, with the advice and assistance of Albemarle’s Government Relations Office, is responsible for overseeing the contributions and activities of Albemarle PAC. The company does not make political contributions at the federal level using corporate funds.State and Local Contributions
Albemarle’s contributions at the state and local level are based on advancing the best interests of Albemarle and its stockholders and employees, including consideration of Albemarle’s interests in a particular state, legislative activity in that state, Albemarle facilities and employees in that state and local political factors. Albemarle’s President & Chief Executive Officer and Senior Vice President, General Counsel, Corporate and Government Affairs, with the advice and assistance of Albemarle’s Government Relations Office, are responsible for overseeing Albemarle’s contributions at the state and local level. Independent Expenditures and Super PACs
Neither Albemarle nor Albemarle PAC intends to make “independent expenditures” or contributions to political committees that make such independent expenditures (Super PACs) in connection with any federal or state election. If Albemarle or Albemarle PAC changes its general guidelines to allow independent expenditures or contributions to Super PACs, any such expenditures or contributions would be disclosed in Albemarle’s annual report setting forth its political contributions. Board Oversight
The Nominating and Governance Committee of Albemarle’s Board of Directors is responsible for overseeing Albemarle’s political contributions. The Nominating and Governance Committee receives periodic updates regarding Albemarle’s political activities, including corporate contributions and contributions by Albemarle PAC.Transparency
Albemarle is committed to transparency in the political process and will publicly disclose corporate and Albemarle PAC contributions on an annual basis beginning in 2014.Political Participation by Employees
We value the right and responsibility of our employees to participate in the political process. Such personal participation, however, must not suggest Albemarle’s support and must not be conducted on company time or involve the use of Albemarle resources. Albemarle will not require employees to make personal political expenditures, including contributions to Albemarle PAC, or take any retaliatory action against employees who do not.