These excerpts taken from the CRL 10-K filed Feb 20, 2008.
The information required by this Item will be included in the 2008 Proxy Statement under the sections captioned "Compensation Discussion and Analysis," "2007 Director Compensation," "Compensation Committee Interlocks and Insider Participation," "Executive Compensation and Related Information" and "Report of Compensation Committee" and is incorporated herein by reference thereto.
The information required by this Item will be included in the 2008 Proxy Statement under the sections captioned "Compensation Discussion and Analysis," "2007
This excerpt taken from the CRL DEF 14A filed Apr 7, 2006.
The objectives of the Company's executive compensation program are to:
The Company's compensation program for executive officers, including the Chief Executive Officer, consists of the following elements:
The Chief Executive Officer recommends individual base salaries, annual target incentive award opportunities, and long-term incentive grants for executive officers on the basis of the competitive analysis, individual and company performance, and the contribution of the individual. The Committee is then responsible for determining the base salary, annual target incentive award opportunity, and long-term incentive grants for executive officers, and for recommending awards for the Chief Executive Officer to the Board's independent directors. The Board's independent directors are responsible for determining the Chief Executive Officer's award.
Section 162(m) of the Internal Revenue Code of 1986, as amended, places a limit of $1 million on the amount of compensation that the Company may deduct in any year with respect to each of its five most highly paid executive officers. It is the Committee's intention that all compensation payments be tax deductible under Section 162(m). However, the Committee has determined that it may be appropriate to make payments that may not be deductible, to ensure the Company's ability to be competitive and to reward executives appropriately, and has reserved the right to do so.