This excerpt taken from the AYR DEF 14A filed Apr 3, 2009.
COMPENSATION COMMITTEE REPORT
The Compensation Committee of the Board, which is comprised of three Independent Directors, operates pursuant to a written charter, which was adopted in August 2006 and which is available at http://www.aircastle.com under Investors Corporate Governance.
The Compensation Committee is primarily responsible for reviewing, approving and overseeing the Companys compensation plans and practices, and works with management to establish the Companys executive compensation philosophy and programs. The members of the Committee at the end of the 2008 fiscal year were John Z. Kukral (Chair), Ronald W. Allen and Douglas A. Hacker.
The Committee has reviewed and discussed the Compensation Discussion and Analysis with management and has recommended to the Board that the Compensation Discussion and Analysis be included in this proxy statement.
The Compensation Committee
John Z. Kukral, Chair
Ronald W. Allen
Douglas A. Hacker