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PRVT » Topics » Executive Compensation Policy and Objectives

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

Executive Compensation Policy and Objectives

Our policy in compensating executive officers, including the executive officers named in the Summary Compensation Table appearing below (the “named executive officers”), is to establish methods and levels of compensation that will

 

  •  

attract and retain highly qualified personnel, and

 

  •  

provide meaningful incentives to promote profitability and growth and reward superior performance.

To achieve these policies Private follows the basic principles that annual compensation should be competitive with similar companies and long term compensation should generally be linked to Private’s return to shareholders. Private also believes that compensation for individual executives should be aligned to the performance of areas of the business over which the executive has the most control.

Executive compensation policies are implemented through a combination of annual and long-term methods of compensation. Compensation for the named executive officers includes

 

  •  

base salary,

 

  •  

eligibility to receive annual cash bonuses, and

 

  •  

stock-based compensation in the form of stock options under the 1999 employee stock option plan.

These primary components are available for flexible use by Private in a manner that will effectively implement our stated objectives with respect to compensation arrangements for each of the executive officers. Each of these components is discussed in more detail below. When setting the compensation arrangements for each executive officer, the Compensation Committee considers these components individually, as well as on an aggregate (total compensation) basis. There is no pre-determined relationship between base salary of our executives and any of the other principal components of compensation. Each element of compensation is considered both individually and in terms of total overall compensation.

These excerpts taken from the PRVT 10-K filed Apr 15, 2009.

Executive Compensation Policy and Objectives

Our policy in compensating executive officers, including the executive officers named in the Summary Compensation Table appearing below (the “named executive officers”), is to establish methods and levels of compensation that will

 

  •  

attract and retain highly qualified personnel

 

  •  

provide meaningful incentives to promote profitability and growth and reward superior performance.

 

- 49 -

To achieve these policies Private follows the basic principles that annual compensation should be competitive with similar companies and long term compensation should generally be linked to Private’s return to shareholders. Private also believes that compensation for individual executives should be aligned to the performance of areas of the business over which the executive has the most control.

Executive compensation policies are implemented through a combination of annual and long-term methods of compensation. Compensation for the named executive officers includes

 

  •  

base salary,

 

  •  

eligibility to receive annual cash bonuses, and

 

  •  

stock-based compensation in the form of stock options under the employee stock option plan.

These primary components are available for flexible use by Private in a manner that will effectively implement our stated objectives with respect to compensation arrangements for each of the executive officers. Each of these components is discussed in more detail below. When setting the compensation arrangements for each executive officer, the Compensation Committee considers these components individually, as well as on an aggregate (total compensation) basis. There is no pre-determined relationship between base salary of our executives and any of the other principal components of compensation. Each element of compensation is considered both individually and in terms of total overall compensation.

Executive Compensation Policy and Objectives

FACE="Times New Roman" SIZE="2">Our policy in compensating executive officers, including the executive officers named in the Summary Compensation Table appearing below (the “named executive officers”), is to establish methods and levels of
compensation that will

 







 • 

attract and retain highly qualified personnel

 







 • 

provide meaningful incentives to promote profitability and growth and reward superior performance.

STYLE="margin-top:0px;margin-bottom:0px"> 


- 49 -







To achieve these policies Private follows the basic principles that annual compensation should be
competitive with similar companies and long term compensation should generally be linked to Private’s return to shareholders. Private also believes that compensation for individual executives should be aligned to the performance of areas of the
business over which the executive has the most control.

Executive compensation policies are implemented through a combination of annual
and long-term methods of compensation. Compensation for the named executive officers includes

 







 • 

base salary,

 







 • 

eligibility to receive annual cash bonuses, and

 







 • 

stock-based compensation in the form of stock options under the employee stock option plan.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">These primary components are available for flexible use by Private in a manner that will effectively implement our stated objectives with respect
to compensation arrangements for each of the executive officers. Each of these components is discussed in more detail below. When setting the compensation arrangements for each executive officer, the Compensation Committee considers these components
individually, as well as on an aggregate (total compensation) basis. There is no pre-determined relationship between base salary of our executives and any of the other principal components of compensation. Each element of compensation is considered
both individually and in terms of total overall compensation.

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

Executive Compensation Policy and Objectives

Our policy in compensating executive officers, including the executive officers named in the Summary Compensation Table appearing below (the “named executive officers”), is to establish methods and levels of compensation that will

 

  •  

attract and retain highly qualified personnel

 

  •  

provide meaningful incentives to promote profitability and growth and reward superior performance.

To achieve these policies Private follows the basic principles that annual compensation should be competitive with similar companies and long term compensation should generally be linked to Private’s return to shareholders. Private also believes that compensation for individual executives should be aligned to the performance of areas of the business over which the executive has the most control.

Executive compensation policies are implemented through a combination of annual and long-term methods of compensation. Compensation for the named executive officers includes

 

  •  

base salary,

 

  •  

eligibility to receive annual cash bonuses, and

 

  •  

stock-based compensation in the form of stock options under the employee stock option plan.

These primary components are available for flexible use by Private in a manner that will effectively implement our stated objectives with respect to compensation arrangements for each of the executive officers. Each of these components is discussed in more detail below. When setting the compensation arrangements for each executive officer, the Compensation Committee considers these components individually, as well as on an aggregate (total compensation) basis. There is no pre-determined relationship between base salary of our executives and any of the other principal components of compensation. Each element of compensation is considered both individually and in terms of total overall compensation.

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

Executive Compensation Policy and Objectives

Our policy in compensating executive officers, including the executive officers named in the Summary Compensation Table appearing below (the “named executive officers”), is to establish methods and levels of compensation that will

 

  •  

attract and retain highly qualified personnel

 

  •  

provide meaningful incentives to promote profitability and growth and reward superior performance.

To achieve these policies Private follows the basic principles that annual compensation should be competitive with similar companies and long term compensation should generally be linked to Private’s return to shareholders. Private also believes that compensation for individual executives should be aligned to the performance of areas of the business over which the executive has the most control.

Executive compensation policies are implemented through a combination of annual and long-term methods of compensation. Compensation for the named executive officers includes

 

  •  

base salary,

 

  •  

eligibility to receive annual cash bonuses, and

 

  •  

stock-based compensation in the form of stock options under the employee stock option plan.

These primary components are available for flexible use by Private in a manner that will effectively implement our stated objectives with respect to compensation arrangements for each of the executive officers. Each of these components is discussed in more detail below. When setting the compensation arrangements for each executive officer, the Compensation Committee considers these components individually, as well as on an aggregate (total compensation) basis. There is no pre-determined relationship between base salary of our executives and any of the other principal components of compensation. Each element of compensation is considered both individually and in terms of total overall compensation.

 

- 51 -

Executive Compensation Policy and Objectives

FACE="Times New Roman" SIZE="2">Our policy in compensating executive officers, including the executive officers named in the Summary Compensation Table appearing below (the “named executive officers”), is to establish methods and levels of
compensation that will

 







 • 

attract and retain highly qualified personnel

 







 • 

provide meaningful incentives to promote profitability and growth and reward superior performance.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">To achieve these policies Private follows the basic principles that annual compensation should be competitive with similar companies and long term
compensation should generally be linked to Private’s return to shareholders. Private also believes that compensation for individual executives should be aligned to the performance of areas of the business over which the executive has the most
control.

Executive compensation policies are implemented through a combination of annual and long-term methods of compensation.
Compensation for the named executive officers includes

 







 • 

base salary,

 







 • 

eligibility to receive annual cash bonuses, and

 







 • 

stock-based compensation in the form of stock options under the employee stock option plan.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">These primary components are available for flexible use by Private in a manner that will effectively implement our stated objectives with respect to
compensation arrangements for each of the executive officers. Each of these components is discussed in more detail below. When setting the compensation arrangements for each executive officer, the Compensation Committee considers these components
individually, as well as on an aggregate (total compensation) basis. There is no pre-determined relationship between base salary of our executives and any of the other principal components of compensation. Each element of compensation is considered
both individually and in terms of total overall compensation.

 


- 51 -







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

Executive Compensation Policy and Objectives

Our policy in compensating executive officers, including the executive officers named in the Summary Compensation Table appearing below (the “named executive officers”), is to establish methods and levels of compensation that will

 

  •  

attract and retain highly qualified personnel

 

  •  

provide meaningful incentives to promote profitability and growth and reward superior performance.

To achieve these policies Private follows the basic principles that annual compensation should be competitive with similar companies and long term compensation should generally be linked to Private’s return to shareholders. Private also believes that compensation for individual executives should be aligned to the performance of areas of the business over which the executive has the most control.

Executive compensation policies are implemented through a combination of annual and long-term methods of compensation. Compensation for the named executive officers includes

 

  •  

base salary,

 

  •  

eligibility to receive annual cash bonuses, and

 

  •  

stock-based compensation in the form of stock options under the employee stock option plan.

These primary components are available for flexible use by Private in a manner that will effectively implement our stated objectives with respect to compensation arrangements for each of the executive officers. Each of these components is discussed in more detail below. When setting the compensation arrangements for each executive officer, the Compensation Committee considers these components individually, as well as on an aggregate (total compensation) basis. There is no pre-determined relationship between base salary of our executives and any of the other principal components of compensation. Each element of compensation is considered both individually and in terms of total overall compensation.

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

Executive Compensation Policy and Objectives

Our policy in compensating executive officers, including the executive officers named in the Summary Compensation Table appearing below (the “named executive officers”), is to establish methods and levels of compensation that will

 

  •  

attract and retain highly qualified personnel

 

  •  

provide meaningful incentives to promote profitability and growth and reward superior performance.

To achieve these policies Private follows the basic principles that annual compensation should be competitive with similar companies and long term compensation should generally be linked to Private’s return to shareholders. Private also believes that compensation for individual executives should be aligned to the performance of areas of the business over which the executive has the most control.

Executive compensation policies are implemented through a combination of annual and long-term methods of compensation. Compensation for the named executive officers includes

 

  •  

base salary,

 

  •  

eligibility to receive annual cash bonuses, and

 

  •  

stock-based compensation in the form of stock options under the employee stock option plan.

 

- 53 -

These primary components are available for flexible use by Private in a manner that will effectively implement our stated objectives with respect to compensation arrangements for each of the executive officers. Each of these components is discussed in more detail below. When setting the compensation arrangements for each executive officer, the Compensation Committee considers these components individually, as well as on an aggregate (total compensation) basis. There is no pre-determined relationship between base salary of our executives and any of the other principal components of compensation. Each element of compensation is considered both individually and in terms of total overall compensation.

EXCERPTS ON THIS PAGE:

DEF 14A
Nov 3, 2009
10-K (2 sections)
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

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