SPF » Topics » Compensation Committee:

This excerpt taken from the SPF DEFA14A filed Apr 2, 2009.
Compensation Committee:    The Compensation Committee, which held twelve meetings during 2008, represents the Board of Directors in discharging its responsibilities relating to the oversight of compensation paid to Company employees, directors and executives. All of the members of the Compensation Committee are independent directors as defined under the NYSE listing standards. Under the Compensation Committee’s charter, the committee is required to meet at least four times per year or more frequently as circumstances dictate. The Compensation Committee has general responsibility for:
 
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establishing the Company’s compensation philosophy, objectives and policies;
 
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reviewing, establishing and approving compensation programs and levels of compensation for the Company’s executive officers, including equity based compensation awards;
 
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reviewing, establishing and approving compensation programs and levels of compensation for members of the Board of Directors;
 
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administration of stock incentive plans (including the selection of employees to receive awards and the determination of the terms and conditions of such awards);
 
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annually reviewing and appraising the performance of the Company’s Chief Executive Officer and providing developmental feedback to the Chief Executive Officer and, when appropriate, to the other executive officers of the Company;
 
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making recommendations to the Board of Directors on management succession relating to the selection of the Chief Executive Officer and other executive officer positions; and
 
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establishing and reviewing compliance with director and executive officer stock ownership guidelines.
 
 
In determining executive compensation, the Compensation Committee may take into consideration the research and recommendations provided by an independent consultant engaged directly by the Committee, as well as recommendations made by the Company’s Chief Executive Officer. This process is described in greater detail in the “Compensation Discussion and Analysis” section which begins at page 18 of this proxy statement.  The Compensation Committee generally does not delegate authority granted the committee by its charter.
 
This excerpt taken from the SPF DEF 14A filed Apr 2, 2008.

COMPENSATION COMMITTEE

Larry D. McNabb

J. Wayne Merck

F. Patt Schiewitz

March 2, 2008

 

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This excerpt taken from the SPF DEF 14A filed Apr 9, 2007.

COMPENSATION COMMITTEE

Larry D. McNabb

Jeffrey V. Peterson

Frank E. O’Bryan

April 9, 2007

 

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This excerpt taken from the SPF DEF 14A filed Mar 27, 2006.

COMPENSATION COMMITTEE

Larry D. McNabb

Jeffrey V. Peterson

Frank E. O’Bryan

March 13, 2006

 

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This excerpt taken from the SPF DEF 14A filed Mar 30, 2005.

COMPENSATION COMMITTEE

Larry D. McNabb

Jeffrey V. Peterson

Frank E. O’Bryan

 

March 11, 2005

 

 

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