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AKS » Topics » Committee Conclusion and Action with respect to 2006 Compensation Packages

This excerpt taken from the AKS DEF 14A filed Apr 16, 2007.

Committee Conclusion and Action with respect to 2006 Compensation Packages

After following its stated compensation process, and discussing the factors set forth above, the Committee concluded at its January 2006 meeting that the 2006 compensation packages under consideration for each of the Company’s NEOs were consistent with the Company’s compensation philosophy and were reasonable, competitive and appropriate, both individually and taken as a whole. The Committee therefore approved those compensation packages for 2006 and each such package approved by the Committee is reflected in the Summary Compensation Table beginning on page 35 of this Proxy Statement. The Committee then reported its action to the Board and recommended that the Board ratify the compensation packages approved by the Committee. After consideration and discussion by the Board as a whole, the Board ratified those packages at its January 2006 meeting.

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