This excerpt taken from the KFFB DEF 14A filed Oct 12, 2007.
The Compensation Committee (the Committee) of Kentucky First Federal Bancorp (the Corporation) is responsible for overseeing and approving the compensation paid to executives of the Corporation. In and of itself, the Corporation currently has no employees and has no plans for hiring employees exclusively in the service of the Corporation. Instead, the executive officers of the Corporation are also employees of the two subsidiary financial institutions (the Banks), First Federal Savings and Loan of Hazard (Hazard) and First Federal Savings Bank of Frankfort (Frankfort). These executive officers will receive their compensation from the respective Banks and the terms of their employment, including working time, vacation policies, and fringe benefits will be governed by the Banks and their respective boards. As part of a formula mutually developed by the Banks and the Corporation, the Banks will be reimbursed by the Corporation for the compensation expenses attributable to the executives responsibilities with the Corporation.
In general, the Committee will be responsible for
This excerpt taken from the KFFB DEF 14A filed Oct 7, 2005.
The primary objectives of the Nominating and Corporate Governance Committee (the Committee) are to assist the Board of Directors (the Board) of Kentucky First Federal Bancorp (the Company) by: (i) identifying individuals qualified to become Board members and recommending that the Board select a group of director nominees for each annual meeting of the Companys stockholders; (ii) ensuring that the Audit and Nominating and Corporate Governance Committees of the Board shall have the benefit of qualified and experienced independent directors; and (iii) developing and recommending to the Board a set of effective corporate governance policies and procedures applicable to the Company.