For Release: March 15, 2006
Altera Board Adopts Majority Vote Standard for Election of Directors
San Jose, Calif., March 15, 2006—Altera Corporation (NASDAQ:ALTR) today announced that its board of directors voted on March 13 to amend the company’s bylaws to provide that directors will be elected by a majority of the votes cast at a meeting of stockholders. Under this majority vote standard, a director who does not receive a majority of the votes cast will tender his or her resignation to the board of directors, and the nominating and governance committee will make a recommendation to the board of directors as to whether to accept or reject the resignation. The board of directors will act on the nominating and governance committee’s recommendation and publicly disclose its decision and the reasons for it within 90 days from the date that the election results are certified. The director who tenders his or her resignation will not participate in the board’s decision. In the case of a contested election, directors will be elected by a plurality of the votes cast at a meeting of stockholders.
About Altera
Altera Corporation (NASDAQ:ALTR) is the world’s pioneer in system-on-a-programmable-chip (SOPC) solutions. Combining programmable logic technology with software tools, intellectual property and technical services, Altera provides high-value programmable solutions to approximately 14,000 customers worldwide. More information is available at www.altera.com.
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