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PRVT » Topics » Primary Components of Executive Compensation.

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

Primary Components of Executive Compensation.

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">Base Salary

The base salaries of our
executive officers are set by the Compensation Committee (and in the case of the CEO, ratified by the independent directors) after consideration of a number of factors, including the executive’s position, level of responsibility, tenure and
performance. The Compensation Committee also considers the compensation levels of executives in comparable companies, along with the executive compensation recommendations made by our chief executive officer. In addition, the Compensation Committee
evaluates whether the base salary levels of our executives are appropriate relative to our size and financial performance compared with the other companies reviewed. Relying primarily on these factors, the Compensation Committee sets the base
salaries of our executive officers at levels designed to meet its objective of attracting and retaining highly qualified individuals. The Compensation Committee also believes that the continuity of leadership derived from the retention of well
qualified executive officers is in the best interests of our shareholders. The base salaries of our executive officers are not set at any specific level as compared to the compensation levels of companies reviewed and the Compensation Committee does
not assign relative weights or importance to any specific measure of the company’s financial performance. During 2006, 2007 and 2008 base salary accounted for all the named executive officers’ direct cash compensation.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">Effective September 2007 we increased Mr. Cohen’s base compensation from USD $200,000 to EUR 200,000 per year, effectively resulting in an
increase in Mr. Cohen’s base compensation based upon current exchange rates. The increase was intended to reflect both the decrease in the value of the dollar against the euro and to adjust his compensation to reflect market conditions.
There were modest increases in base compensation to other named executive officers to reflect increased cost of living.

This excerpt taken from the PRVT 10-K filed Mar 17, 2008.

Primary Components of Executive Compensation.

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">Base Salary

The base salaries of our
executive officers are set by the Compensation Committee (and in the case of the CEO, ratified by the independent directors) after consideration of a number of factors, including the executive’s position, level of responsibility, tenure and
performance. The Compensation Committee also considers the compensation levels of executives in comparable companies, along with the executive compensation recommendations made by our chief executive officer. In addition, the Compensation Committee
evaluates whether the base salary levels of our executives are appropriate relative to our size and financial performance compared with the other companies reviewed. Relying primarily on these factors, the Compensation Committee sets the base
salaries of our executive officers at levels designed to meet its objective of attracting and retaining highly qualified individuals. The Compensation Committee also believes that the continuity of leadership derived from the retention of well
qualified executive officers is in the best interests of our shareholders. The base salaries of our executive officers are not set at any specific level as compared to the compensation levels of companies reviewed and the Compensation Committee does
not assign relative weights or importance to any specific measure of the company’s financial performance. During 2006 and 2007 base salary accounted for all the named executive officers’ direct cash compensation.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">Effective September 2007 we increased Mr. Cohen’s base compensation from USD $200,000 to EUR 200,000 per year, effectively resulting in an
increase in Mr. Cohen’s base compensation based upon current exchange rates. The increase was intended to reflect both the decrease in the value of the dollar against the euro and to adjust his compensation to reflect market conditions.
There were modest increases in base compensation to other named executive officers to reflect increased cost of living.

EXCERPTS ON THIS PAGE:

10-K
Apr 15, 2009
10-K
Mar 17, 2008

RELATED TOPICS for PRVT:

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