This excerpt taken from the HMX DEF 14A filed Feb 27, 2008.
Certain of the executive officers of the Company and its subsidiaries, including the Named Executive Officers, receive various perquisites provided by the Company. These perquisites may include a Company leased vehicle, a financial counseling allowance, executive life insurance, executive vision insurance coverage, personal umbrella liability insurance premium reimbursement and a clothing allowance. The value of certain of these perquisites (including the personal use component of any company leased vehicle) is imputed income to the executive and taxed accordingly. No tax gross-up payments are made to executives or to the Named Executive Officers in connection with perquisites. The Compensation Committee believes that these perquisites are relatively modest and necessary for retention and recruitment purposes.
The Compensation Committee reviews the perquisites on a periodic basis to ensure that they are appropriate in light of the Companys total compensation program and market practice. Specific perquisites provided to the Named Executive Officers are listed in Note 5 to the Summary Compensation Table on page 23. Other than these perquisites, Named Executive Officers have the same benefits that are generally provided to other employees.