Governance Verbiage

Hewlett Packard and Gannett recently announced progressive changes in shareholder voting powers for Directors on boards. They and perhaps others are singing from the same book as the critical paragraph that summarizes the new voting procedures is being used by over and over again by different individuals at different companies. There is no attribution for the text which clearly has been lifted from a seminar in corporate governance. While I applaud the changes would the real author of the following text please identify themselves.

"Under the policy, any nominee for director who receives a greater number of votes "withheld" from his or her election than votes "for" such election will tender his or her resignation for consideration by the nominating and governance committee of (insert your company name) board of directors."