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This excerpt taken from the SMG DEF 14A filed Dec 19, 2008. Role
of Outside Consultants
During the 2008 fiscal year, the Compensation Committee engaged
an independent consultant from Frederic W. Cook & Co.
to advise the Compensation Committee with respect to best
practices and competitive trends in the area of executive
compensation, as well as ongoing legal and regulatory
considerations. The consultant provided guidance to assist the
Compensation Committee in its evaluation of the compensation
recommendations submitted by management with respect to the CEO,
the NEOs and other key management employees. Frederic W.
Cook & Co. was engaged as a consultant to the
Compensation Committee and did not provide consulting services
directly to management.
During the 2008 fiscal year, the Company engaged consultants
from Hewitt Associates, Inc. and Towers Perrin. These firms
worked directly with management to advise the Company on best
practices and competitive trends, as well as ongoing legal and
regulatory considerations, with respect to executive
compensation. In addition, the firms advised the Company with
respect to the development of the relevant compensation peer
groups, including providing the compensation benchmark data for
such groups. Where applicable, the firms statistically adjusted
the relevant peer group data to more closely reflect the size of
the Company. Each firm was engaged by the Company to consult
with management and did not provide consulting services directly
to the Compensation Committee.
This excerpt taken from the SMG DEF 14A filed Dec 20, 2007. Role
of Outside Consultants
The Compensation and Organization Committee engages an
independent consultant from Frederic W. Cook & Co. to
advise the Compensation and Organization Committee with respect
to best practices and competitive trends in the area of
executive compensation, as well as ongoing legal and regulatory
considerations. The consultant provides guidance to assist the
Compensation and Organization Committee in its evaluation of the
compensation recommendations submitted by management with
respect to the CEO, the executive officers and other key
management employees, including the NEOs. Frederic W.
Cook & Co. is engaged as a consultant to the
Compensation and Organization Committee and does not provide
consulting services directly to management.
The Company engages a consultant from Hewitt Associates, Inc.
(“Hewitt”). Hewitt works directly with management to
advise the Company with respect to best practices and
competitive trends, as well as ongoing legal and regulatory
considerations with respect to executive compensation. In
addition, Hewitt advises the Company with respect to the
development of its compensation peer group and provides
compensation benchmark data for the peer group. Where
applicable, Hewitt statistically adjusts the peer group data to
more closely reflect the size of the Company. Hewitt is engaged
as a consultant to the Company to work directly with management
and does not provide consulting services directly to the
Compensation and Organization Committee.
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