This excerpt taken from the LCCI DEF 14A filed Apr 26, 2005.
Compensation Committee. Each member of our compensation and stock option committee (referred to in this proxy statement as the compensation committee) is independent within the meaning of the NASD rules. The compensation committee has overall responsibility for approving and evaluating our compensation plans, policies and programs, including administering our stock incentive plans. The compensation committee considers and makes recommendations to our board of directors with respect to programs for human resource development and management organization and succession, approves changes in senior executive compensation and considers and makes recommendations to our board of directors with respect to general compensation matters and policies.
All of our current nominees for the board of directors were elected at the 2004 annual meeting.