TDY » Topics » Compensation Committee Interlocks and Insider Participation

This excerpt taken from the TDY DEF 14A filed Mar 9, 2009.
Compensation Committee Interlocks and Insider Participation
 
No member of the Personnel and Compensation Committee of our Board of Directors is an officer or employee of the Company. During 2008, no member of the Committee had a current or prior relationship and no officer who was a statutory insider had a relationship to any other company, in each case that must be described under the Securities and Exchange Commission rules relating to disclosure of executive compensation.
 
Compensation Committee Interlocks and Insider Participation
 
No member of the Personnel and Compensation Committee of our Board of Directors is an officer or employee of the Company. During 2007, no member of the Committee had a current or prior relationship and no officer who was a statutory insider had a relationship to any other company, in each case that must be described under the Securities and Exchange Commission rules relating to disclosure of executive compensation.
 
Compensation Committee Interlocks and Insider Participation
 
No member of the Personnel and Compensation Committee of our Board of Directors is an officer or employee of the Company. Charles J. Queenan, Jr., who retired as a director and as a member of the Personnel and Compensation Committee at our 2006 Annual Meeting, was often referred to honorifically as “senior counsel” to a law firm that provided services to us during 2006 and currently provides services to us. Mr. Queenan retired as a partner of such firm on December 31, 1995. We had been advised that the law firm did not compensate him, nor did he participate in the firm’s earnings or profits. Our Board had determined that he was independent. See “Certain Transactions” at page 47. During 2006, no other member of the Committee had a current or prior relationship and no officer who was a statutory insider had a relationship to any other company, in each case that must be described under the Securities and Exchange Commission rules relating to disclosure of executive compensation.


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