Note:  The article accessible from the link below refers to "changing the company's rules" for indemnification of directors, presumably intended in the general sense of being a precedent for shareholders exercising their rights to determine director indemnity.  In fact, the Franklin Mutual shareholder proposal actually follows rather than changes the existing rules established by Section 317 of the California Corporations Code and the company's Bylaws, which allow shareholders to decide whether directors have met the standards of conduct required for indemnification.  The proposed resolution would make this determination if adopted by a shareholder vote at the annual meeting, and does not address any future process for determining indemnification.  Reference should of course be made directly to the proposal itself.

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