Audit Committee: for Magma_Design

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LAVA » Topics » Audit Committee:

This excerpt taken from the LAVA DEF 14A filed Aug 12, 2009.

Audit Committee:


Members:		Kevin C. Eichler (Chair), Thomas M. Rohrs and Chester J. Silvestri

Number of Meetings in Fiscal 2009:		Five

Functions:		Assists the Board in its general oversight of Magma’s financial reporting, internal controls and audit functions and is directly responsible for the appointment, oversight and compensation of the independent registered public accountants. Pre-approves all audit services and permitted non-audit services. Pre-approves related-party transactions. The responsibilities and activities of the Audit Committee are described in greater detail in “Report of the Audit Committee.”

*Compensation and Nominating Committee:*

Members:		Chester J. Silvestri (Chair), Timothy Ng and Thomas M. Rohrs

Number of Meetings in Fiscal 2009:		Seven

Functions:		The Committee’s compensation-related functions are described below under “Processes and Procedures for Determination of Executive and Director Compensation.” In its role as Magma’s nominating committee, the Committee identifies, evaluates and recommends director candidates to the Board. For more information, see “Nominations to the Board.”

This excerpt taken from the LAVA DEF 14A filed Jul 11, 2008.

Audit Committee:


Members:		Kevin C. Eichler (Chair), Thomas M. Rohrs and Chester J. Silvestri

Number of Meetings in Fiscal 2008:		Six

Functions:		Assists the Board in its general oversight of Magma’s financial reporting, internal controls and audit functions and is directly responsible for the appointment, oversight and compensation of the independent registered public accountants. Pre-approves all audit services and permitted non-audit services. Pre-approves related-party transactions. The responsibilities and activities of the Audit Committee are described in greater detail in “Report of the Audit Committee.”

*Compensation and Nominating Committee:*

Members:		Chester J. Silvestri (Chair), Timothy Ng and Thomas M. Rohrs

		(Susumu Kohyama was a member of the Compensation and Nominating Committee through July 24, 2007 of fiscal 2008 but was no longer a member of the Compensation and Nominating Committee after July 24, 2007)

Number of Meetings in Fiscal 2008:		Six

Functions:		The Committee’s compensation-related functions are described below under “Processes and Procedures for Determination of Executive and Director Compensation.” In its role as Magma’s nominating committee, the Committee identifies, evaluates and recommends director candidates to the Board. For more information, see “Nominations to the Board.”

This excerpt taken from the LAVA DEF 14A filed Jul 17, 2007.

Audit Committee


Members:		Kevin C. Eichler (Chair), Thomas M. Rohrs and Chester J. Silvestri

Number of Meetings in Fiscal 2007:		Five

Functions:		Assists the Board in its general oversight of Magma’s financial reporting, internal controls and audit functions and is directly responsible for the appointment, oversight and compensation of the independent registered public accountants. Pre-approves all audit services and permitted non-audit services. Pre-approves related-party transactions. The responsibilities and activities of the Audit Committee are described in greater detail in “Report of the Audit Committee.”

*Compensation and Nominating Committee*

Members:		Chester J. Silvestri (Chair), Susumu Kohyama, Timothy Ng and Thomas M. Rohrs

Number of Meetings in Fiscal 2007:		Five

Functions:		The Committee’s compensation-related functions are described below under “Processes and Procedures for Determination of Executive and Director Compensation.” In its role as Magma’s nominating committee, the Committee identifies, evaluates and recommends director candidates to the Board. For more information, see “Nominations to the Board.”

This excerpt taken from the LAVA DEF 14A filed Jul 17, 2006.

Audit Committee


Members:		Messrs. Eichler (Chairman), Rohrs and Silvestri.

Number of Meetings in Fiscal 2006:		Five

Functions:		Assists the Board in its general oversight of Magma’s financial reporting, internal controls and audit functions and is directly responsible for the appointment, oversight and compensation of the independent accountants. Pre-approves all audit services and permitted non-audit services. The responsibilities and activities of the Audit Committee are described in greater detail in “Report of the Audit Committee.”

*Compensation and Nominating Committee*

Members:		Messrs. Silvestri (Chairman), Kohyama, Ng and Rohrs.

Number of Meetings in Fiscal 2006:		Seven

Functions:		Reviews and approves salaries, performance-based incentives and other matters relating to executive compensation, and administers Magma’s stock option plans, including reviewing and granting stock options to executive officers. Reviews and approves Magma’s compensation plans, benefit programs and arrangements for other officers, employees and consultants, and establishes compensation for members of Magma’s Board of Directors. Recommends guidelines for performance reviews and conducts the surveys and inquiries that the Committee considers to be appropriate and necessary to carry out its duties. In its role as Magma’s nominating committee, the Committee identifies, evaluates and recommends director candidates to the Board. For more information, see “Nominations to the Board” and “Report of the Compensation and Nominating Committee.”

EXCERPTS ON THIS PAGE:

DEF 14A	Aug 12, 2009

DEF 14A	Jul 11, 2008

DEF 14A	Jul 17, 2007

DEF 14A	Jul 17, 2006

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