Compensation Committee

Concept Briefing:

Also Remuneration Committee, a committee of the board of directors set up in most publicly-held companies as part of a good corporate governance structure. Committee members are normally drawn from members of the company's board of directors who are independent or outside directors. The main purpose is to assist the board in meeting its responsibilities with regard to oversight and determination of executive compensation and to review and make recommendations to the board with respect to major compensation plans, policies and programs of the corporation.

Compensation Committee reveiw and make recommendations to the board for approval on:

corporate goals and objectives relevant to the compensation of the corporation's executive officers;

the compensation for the Chief Executive Officer (CEO) and other executive officers of the corporation, including, base salary, bonus, long-term incentive and equity compensation, and any other compensation, perquisites, and special or supplemental benefits;

the terms and conditions of employment of the CEO and other executive officers of the corporation;

the fees and other compensation to be paid to members of the board for their service as directors and as members of committees of the board.

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17.01.2007. 01:47