COMPENSATION COMMITTEE REPORT for Private_Media

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Private Media Group (PRVT)

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PRVT » Topics » COMPENSATION COMMITTEE REPORT

This excerpt taken from the PRVT DEF 14A filed Nov 3, 2009.

COMPENSATION COMMITTEE REPORT

The Compensation Committee has reviewed and discussed with management the “Compensation Discussion and Analysis” section included in this Proxy Statement. Based on this review and discussion, the Compensation Committee recommended to the board of directors that the “Compensation Discussion and Analysis” section be included in this Proxy Statement and annual report for the year ended December 31, 2008.

This excerpt taken from the PRVT 10-K filed Apr 15, 2009.

COMPENSATION COMMITTEE REPORT

The Compensation Committee has reviewed and discussed with management the “Compensation Discussion and Analysis” section included in this annual report. Based on this review and discussion, the Compensation Committee recommended to the board of directors that the “Compensation Discussion and Analysis” section be included in this annual report.

This excerpt taken from the PRVT DEF 14A filed Oct 31, 2008.

COMPENSATION COMMITTEE REPORT

These excerpts taken from the PRVT 10-K filed Mar 17, 2008.

COMPENSATION COMMITTEE REPORT

FACE="Times New Roman" SIZE="2">The Compensation Committee has reviewed and discussed with management the “Compensation Discussion and Analysis” section included in this annual report. Based on this review and discussion, the Compensation
Committee recommended to the board of directors that the “Compensation Discussion and Analysis” section be included in this annual report.

SIZE="2">The Compensation Committee:

Berth H. Milton

FACE="Times New Roman" SIZE="2">The following table summarizes all compensation paid to (i) our Chief Executive Officer and Chief Financial Officer serving during 2007, and (ii) our other most highly compensated executive officers who were
serving in such capacity at the end of 2007, other than the Chief Executive Officer and Chief Financial Officer, whose total compensation exceeded $100,000 in 2007, for services rendered in all capacities to Private Media Group for the two fiscal
years ended December 31, 2006, and December 31, 2007. No other executive officer earned compensation in excess of $100,000 in 2007.

SIZE="2">2007 Summary Compensation Table


Name and Principal Position During Fiscal 2007	Fiscal Year	Salary ($)(1)	Option Awards SIZE="1">($)(1) (2)	All Other Compensation ($)		Total ($)(1)
Berth H. Milton, President and CEO (3)	2007	141,000	—			141,000
Director, Chairman of the Board	2006	118,144	—			118,144
Johan Gillborg (4)	2007	191,000	—			191,000
Chief Financial Officer and Secretary, Private Media Group, Inc.; Chairman, Private France S.A.; Chairman, Private Benelux; Administrator, Milcap Media Group	2006	165,000	— — —			165,000
Peter T. Cohen (5)	2007	225,000	—	27,000	(6)	252,000
Chief Operating Officer, Private Media Group, Inc.	2006	50,000	—	5,000	(6)	55,000
Javier Sánchez (7)	2007	225,000	—			225,000
EVP, Production and Operations, Milcap Media Group	2006	205,000	—			205,000
Philip Christmas (8)	2007	137,000	—			137,000
Chief Financial Officer, Milcap Media Group	2006	117,500	—			117,500

(1)	Salary amounts received in non-US currency have been converted into dollars using the average exchange rate for the applicable year.

(2)

Reflects the amount recognized for financial statement reporting purposes for fiscal year 2007 in accordance with FAS 123(R) using the assumptions set forth in the footnote 16 to
the financial statements included elsewhere in this Annual Report for stock option awards granted during and prior to 2007, assuming no forfeitures.

(3)	Salary received in non-US currency, 102,500 euro in 2007 and 94,515 euro in 2006. Mr. Milton agreed to waive director fees for 2006 and 2007. Therefore, the amounts for 2006 and 2007 reflect only salary received for services as President and CEO.

(4)	Salary received in non-US currency, 139,000 euro in 2007 and 132,000 euro in 2006.

(5)	Mr. Cohen was retained as a consultant in September 2006 and was appointed Chief Operating Officer in November 2006. Compensation for 2006 reflects compensation as consultant and Chief Operating Officer. Salary received in non-US currency, 67,000 euro in 2007.

(6)	In accordance with Mr. Cohen’s employment agreement he received a 2,000 euro ($2,667) monthly relocation allowance for 12 months commencing in November 2006.

(7)	Mr. Sánchez served as Chief Operating Officer of Private Media Group, Inc. from 1998 until November 2006, when Mr. Sánchez was appointed as Executive Vice President, Production and Operations of Milcap Media Group. Salary received in non-US currency, 164,000 euro in 2007 and 164,000 euro in 2006.

(8)	Salary received in non-US currency, 100,000 euro in 2007 and 94,000 euro in 2006.

SIZE="2">No bonuses or stock awards were granted to any of the named executive officers in 2007.

- 54 -

This excerpt taken from the PRVT DEF 14A filed Nov 20, 2007.

COMPENSATION COMMITTEE REPORT

This excerpt taken from the PRVT 10-K filed Apr 2, 2007.

COMPENSATION COMMITTEE REPORT

This excerpt taken from the PRVT DEF 14A filed Nov 22, 2006.

Compensation Committee Report

The Company maintains a Compensation Committee, which currently consists of one Director, Berth Milton, and Javier Sánchez. The Compensation Committee approves salary practices for the Chief Executive Officer, and sets performance objectives and establishes the compensation of the Chief Executive Officer, subject to the review and approval of the Board of Directors’ outside independent directors. The compensation of other executive officers is reviewed and set by the Chief Executive Officer, after review and consultation with the other members of the Compensation Committee.

The Company’s policy in compensating executive officers is to establish methods and levels of compensation that will provide strong incentives to promote its profitability and growth and reward superior performance. Compensation of executive officers includes salary as well as stock-based compensation in the form of stock options under the Company’s Employee Stock Option Plan. During 2005, salary accounted for all the executive officers’ direct cash compensation. No new option grants were made to executive officers during 2005. The Company believes that the existing compensation of its executive officers should be sufficient to attract and retain highly qualified personnel and also provide meaningful incentives for measurably superior performance.

To date the Company has relied upon cash flow from operations as its principal source of working capital. As a result, the Company has placed special emphasis on equity-based compensation, in the form of options, to preserve its cash for operations. This approach also serves to match the interests of the Company’s executive officers with the interest of its shareholders. The Company seeks to reward achievement by its executive officers of long and short-term performance goals, which are measured by factors including improvements in revenue and profitability, and successfully developing new products and markets.

Included in the factors considered by the Compensation Committee in setting the compensation of the Company’s Chief Executive Officer during 2005 were progress made towards improving operating efficiency and refocusing the Company’s business on its core markets. During 2005, under the leadership of Berth Milton, the Company continued to make significant progress in connection with its efforts to reduce costs, eliminate operational inefficiencies and reposition the Company’s business activities to focus on its core markets.

Compensation Committee Members

Berth Milton Javier Sánchez

This excerpt taken from the PRVT DEF 14A filed Nov 15, 2005.

Compensation Committee Report

The Company maintains a Compensation Committee, which currently consists of one Director, Berth Milton, and the Company’s Chief Operating Officer, Javier Sánchez. The Compensation Committee approves salary practices for the Chief Executive Officer, and sets performance objectives and establishes the compensation of the Chief Executive Officer, subject to the review and approval of the Board of Directors’ outside independent directors. The compensation of other executive officers is reviewed and set by the Chief Executive Officer, after review and consultation with the other members of the Compensation Committee.

The Company’s policy in compensating executive officers is to establish methods and levels of compensation that will provide strong incentives to promote its profitability and growth and reward superior performance. Compensation of executive officers includes salary as well as stock-based compensation in the form of stock options under the Company’s Employee Stock Option Plan. During 2004, salary accounted for all the executive officers’ direct cash compensation. In 2004 option grants were made to Javier Sànchez, the Company’s COO, based upon the recommendations of the Compensation Committee, subject to the approval of the Board of Directors. The Company believes that the existing compensation of its executive officers should be sufficient to attract and retain highly qualified personnel and also provide meaningful incentives for measurably superior performance.

Included in the factors considered by the Compensation Committee in setting the compensation of the Company’s Chief Executive Officer during 2004 were progress made towards improving operating efficiency and refocusing the Company’s business on its core markets. During 2004, under the leadership of Berth Milton, the Company made significant progress in connection with its efforts to reduce costs, eliminate operational inefficiencies and reposition the Company’s business activities to focus on its core markets.

Compensation Committee Members

Berth Milton Javier Sánchez

EXCERPTS ON THIS PAGE:

DEF 14A	Nov 3, 2009

10-K	Apr 15, 2009

DEF 14A	Oct 31, 2008

10-K (2 sections)	Mar 17, 2008

DEF 14A	Nov 20, 2007

10-K	Apr 2, 2007

DEF 14A	Nov 22, 2006

DEF 14A	Nov 15, 2005

Private Media Group (PRVT)

PRVT » Topics » COMPENSATION COMMITTEE REPORT

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