Corporate Governance and Stock Ownership Guidelines

Taubman Centers recognizes that strong governance improves corporate decision making and strengthens our company. As an Umbrella Partnership REIT (UPREIT), the foundation of our company's governance is "one share, one unit, one vote."

The Board of Directors (the "Board") of Taubman Centers, Inc. (the "Company"), has adopted certain corporate governance principles (the "Guidelines") establishing a common set of expectations to assist the Board and its committees in performing their duties in compliance with applicable requirements. In recognition of the continuing discussions about corporate governance, the Board will review and, if appropriate, revise these Guidelines from time to time.

The Board of the Company has adopted Stock Ownership Guidelines for Executive Officers and Non-Employee Directors.

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Corporate Governance Guidelines 236 KB
Stock Ownership Guidelines 76 KB

Code of Conduct and Ethics

The Taubman Centers, Inc. Code of Business Conduct and Ethics has been adopted by the Board of Directors. Although it addresses a wide range of business practices and procedures, it is not intended to cover every ethical issue; rather it sets out basic principles to guide the actions and decisions of all employees, officers (collectively, "associates") and directors (together with associates, "you") of Taubman Centers, Inc. and its affiliates ("we" or the "Company").

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Code of Business Conduct and Ethics 617 KB

Executive Compensation Clawback Policy

In the event that the Board of the Company determines that any fraud, negligence or intentional misconduct by a current or former executive of the Company was a significant contributing factor to the Company having to restate all or a portion of its financial statements, the Board or committee will take, in its discretion, such action as it deems necessary to recover Compensation paid, remedy the misconduct and prevent its recurrence to the fullest extent permitted by governing law.

The Executive Compensation Clawback Policy as adopted by the Board of the Company is available below.

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Executive Compensation Clawback Policy 180 KB
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TCO 49.68
Change-0.07(-0.14%) Volume: 742,783 October 23, 2017