This excerpt taken from the MRVL DEF 14A filed May 8, 2006.
The primary purpose of the Audit Committee (the Committee) is to assist the Board of Directors (the Board) of Marvell Technology Group Ltd. (the Company) in fulfilling its responsibility to oversee managements conduct of the Companys accounting and financial reporting processes, including the review of financial reports and other financial information provided by the Company to its shareholders, the Companys systems of internal accounting, financial and disclosure controls and the annual independent audit of the Companys financial statements.
In discharging its oversight role, the Committee is empowered to investigate any matter brought to its attention with full access to all books, records, facilities and personnel of the Company and the power to retain, at the Companys expense, outside counsel, auditors or other experts for this purpose. The Committee shall have the sole authority to approve related fees and retention terms. The Committee may request any officer or employee of the Company or the Companys outside counsel or external auditors to attend a meeting of the Committee or to meet with any members of, or consultants to, the Committee.
The Committee shall review the adequacy of this Charter on an annual basis.
This excerpt taken from the MRVL 10-Q filed Sep 8, 2005.
The purpose of this Appendix is to modify, to the extent set forth herein, the Amended and Restated 1995 Marvell Technology Group Ltd. Stock Option Plan (the Plan) in respect of the Israeli employees of Marvell Technology Group Ltd. and its affiliates and subsidiaries who are eligible to participate in the Plan in accordance with its terms, in order to reflect the specific requirements of the Israeli law. This Appendix, together with the Plan, is meant to constitute a Share Allotment Plan under the 102 Provisions, as defined below, and applies to stock options granted to the Israeli Employees on or after January 1, 2003.