Saturday, December 28, 2019 4:51:13 PM
The Compensation Committee is responsible for determining the overall compensation levels of our executive officers and administering our equity compensation plans. The Compensation Committee does not delegate its authority pursuant to its written charter. The Compensation Committee currently consists of Messrs, Malik and Jasinowski. The Board has determined that all of the members are “independent” under the current listing standards of NASDAQ. . .
Executive Compensation Philosophy and Objectives
The Company’s compensation philosophy is to assure that the Company’s compensation and benefits policies attract and retain the key employees necessary to support the Company’s growth and success, both operationally and strategically, and to motivate the executives to achieve short- and long-term goals with the ultimate objective of creating sustainable improvements in stockholder value.
Elements of Compensation
Base Salary. All full time Named Executive Officers are paid a base salary. Base salaries for our executives are established based on the scope of their responsibilities, professional qualifications, academic background and the other elements of the executive’s compensation, including equity-based compensation. Base salaries are generally reviewed at least annually, and may be increased to align salaries with market levels or Company and/or individual performance after taking into account the subjective evaluation previously described.
Bonuses. All full time Named Executive Officers are eligible for bonuses from time to time, on a case by case basis, based on Company and/or individual performance considerations and/or on retention considerations.
Equity Incentive Compensation. We believe that long-term performance is achieved through an ownership culture participated in by our Named Executive Officers through the use of stock-based awards. We maintain an equity compensation plan for such awards.
Determination of Compensation
The Company’s executive compensation program for the Named Executive Officers is administered by the Board of Directors’ Compensation Committee. As described above, the Compensation Committee consists of two independent directors, all of whom have considerable experience in executive compensation issues and management development.
The Compensation Committee’s guiding principle is to assure that the Company’s compensation and benefits policies attract and retain the key employees necessary to support the Company’s growth and success, both operationally and strategically, and to motivate the executives to achieve short- and long-term goals with the ultimate objective of creating sustainable improvements in stockholder value.
https://www.sec.gov/Archives/edgar/data/1072379/000114420419017803/tv517288_10k.htm#a_019
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