Compensation Committee
Responsibility of the Compensation Committee
The Compensation Committee exercises the authority of the Board relating to employee benefit and equity-based plans and the compensation of the company's officers. The Committee's duties include:
- making recommendations for consideration by the Board, in executive session, concerning the compensation of the Chief Executive Officer;
- determining the compensation of the company's officers (other than the Chief Executive Officer) and advising the Board of such determination;
- making recommendations to the Board with respect to incentive compensation plans and equity-based plans and exercising the authority of the Board concerning benefit plans;
- serving as the administration committee of the company's equity-based plans;
- making recommendations to the Board concerning director compensation;
- reviewing the adequacy of the company's stock ownership guidelines and periodically assessing compliance with these guidelines; and
- overseeing the company's compensation philosophy and strategy and periodically assessing the risk related to its compensation policies and practices.
Members of the Compensation Committee
The Compensation Committee met three times in 2011. The current members of the Compensation Committee are:
