The Company’s Corporate Governance Guidelines establish criteria for the Board of Directors, its committees and the Company. Corporate Governance is a priority of the Company and the guidelines and principles adopted requires that the directors, management and employees are held to the highest standards of integrity. The guidelines adopted by Newpark address matters concerning, among other things, Board membership (number of directors, qualifications and independence), the process by which Board members are elected, director responsibilities, interaction with senior management, stock ownership and performance.

The Corporate Governance Guidelines establishes the following three Committees of the Board of Directors comprised of independent non-employee directors:

The Audit Committee provides an independent review of the integrity of the Company’s financial statements, internal controls and ethics policies.

The Compensation Committee is charged with the responsibility of setting compensation standards for the Company’s senior officers, administering the Company's equity incentive plans and producing an annual report on executive compensation.

The Nominating and Governance Committee acts as an advisor to the Board of Directors in matters of composition and function of the Board, identifying qualified individuals for election, nominating a group of individuals for election at the Company’s annual stockholder meeting and developing a set of corporate governance principles for the Company.