Corporate Governance
Our Board of Directors
Committees
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Audit Committee
Compensation Committee:
Compensation Committee Structure
C. Alan Weber, Committee Chairman
Scott C. Chandler, Committee Member
Michael B. Thompson, Committee Member
Compensation Philosophy
Decisions regarding executive compensation are made by the Company's Compensation Committee. The Company's compensation philosophy for officers conforms to its compensation philosophy for all employees generally. The Company's compensation is designed to:
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Provide compensation comparable to that offered by companies with similar business,
allowing the Company to successfully attract and retain the employees necessary to its
long-term success.
Provide compensation that rewards individual achievement and differentiates among
employees based upon individual performance.
Provide incentive compensation that varies according to both the Company's success in
achieving its performance goals and the employee's contribution to that success; and
Provide an appropriate linkage between employee compensation and the creation of
shareholder value through awards that are tied to the Company's financial performance and
by facilitating employee stock ownership.
In furtherance of these goals, the Company's officers' compensation comprises salary, annual cash bonuses, long-term incentive compensation in the form of stock options and various fringe benefits, including medical benefits, 401(k) savings plan, and a car allowance.
