AACC » Topics » Compensation Committee:

This excerpt taken from the AACC DEF 14A filed Apr 17, 2008.
Compensation Committee:
 
The Compensation Committee met eleven times during 2007.
 
Members:
 
n   Donald Haider (chairperson)
n   Jennifer L. Adams
n   Anthony R. Ignaczak
n   William I Jacobs
n   William F. Pickard
 
The Board has determined that each member of the Compensation Committee is independent under Rule 4200 of the listing standards of NASDAQ.
 
Responsibilities:
 
n   Primary function is to consider and establish executive officer compensation, and the compensation programs, plans, benefits and awards for executive officers, including the administration of the Company’s 2004 Stock Incentive Plan.
n   Considers and recommends to the Board proposals for Director compensation.
n   Reviews and discusses with management the Company’s Compensation Discussion and Analysis included in this Proxy Statement and incorporated by reference in the Company’s Annual Report on Form 10-K.
n   Prepares annual Compensation Committee Report.
n   Evaluates the performance of the Company’s executive officers.
n   Oversees the Company’s succession planning for its executive officers.
 
The Board has adopted a written charter for the Compensation Committee which is available on our website at www.assetacceptance.com.
 
The Compensation Committee Charter does not provide for any delegation of the Committee’s authority regarding executive officer and director compensation. Our Chief Executive Officer makes


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recommendations to the Compensation Committee on most compensation matters involving executive officers other than himself, including base salary, annual cash incentive compensation and equity awards. Our Chief Operating Officer, with input from our Chief Executive Officer, makes recommendations to the Compensation Committee on compensation matters involving executive officers reporting to him. Our Chief Financial Officer makes recommendations to the Committee on the financial impact and structure of equity awards. Our Vice President-Human Resources provides compensation-related information to the Compensation Committee. Our Chief Executive Officer, Chief Operating Officer, Chief Financial Officer and Vice President- Human Resources do not make recommendations on, or participate in decisions with, the Committee about their own compensation. From time to time the Compensation Committee has engaged Frederic W. Cook & Co., Inc., a compensation consultant, to provide data and suggestions on executive officer or Director compensation for the Committee’s consideration, including an analysis of survey and competitive information, and suggestions about the structure of equity awards. Frederic W. Cook & Co. has not provided consulting services to our management.
 
Compensation Committee:
 
The Compensation Committee met eight times during 2006.
 
Members:
 
n  Donald Haider (chairperson)
n  Jennifer L. Adams
n  Anthony R. Ignaczak
n  William I Jacobs
n  William F. Pickard
 
The Board has determined that each member of the Compensation Committee is independent under Rule 4200 of the listing standards of the NASD.
 
Responsibilities:
 
n  Primary function is to consider and establish executive officer compensation, and the compensation programs, plans, benefits and awards for executive officers, including the administration of the Company’s 2004 Stock Incentive Plan.
n  Considers and recommends to the Board proposals for Director compensation.
n  Reviews and discusses with management the Company’s Compensation Discussion and Analysis included in this Proxy Statement and incorporated by reference in the Company’s Annual Report on Form 10-K.
n  Prepares annual Compensation Committee Report.
n  Evaluates the performance of the Company’s executive officers.
n  Oversees the Company’s succession planning for its executive officers.
 
The Board has adopted a written charter for the Compensation Committee which is available on our website at www.assetacceptance.com.
 
The Compensation Committee Charter does not provide for any delegation of the Committee’s authority regarding executive officer


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and director compensation, other than for subcommittees comprised of one or more members of the Compensation Committee. The Company’s Chief Executive Officer makes recommendations to the Compensation Committee on most compensation matters involving executive officers other than himself.
 
From time to time the Compensation Committee has engaged Frederic W. Cook & Co., Inc., a compensation consultant, to provide data on executive officer or Director compensation for the Committee’s consideration, including an analysis of survey and competitive information.
 

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