This excerpt taken from the VIRL DEF 14A filed Jan 30, 2009.
The Plan is administered by a committee composed of members of and appointed by our board of directors, which we refer to in this section as the committee. The committee has delegated to our chief executive officer, who we refer to in this situation as the administrator, the authority to grant awards to non-executive level employees in accordance with guidelines established by the committee. Only our Board of Directors or the committee may approve grants of awards to our executive officers, although the administrator may grant awards to non-executive level employees in accordance with guidelines established by our Board of Directors or the committee. Subject to the other provisions of the Plan, our Board of Directors, the committee or the administrator has the authority to determine the terms, conditions and restrictions of awards granted under the Plan, including the type of award, the number of shares subject to each award, which individuals will receive awards and the time at which awards are granted, and make all other determinations it deems necessary or advisable for the administration of the Plan.
These excerpts taken from the VIRL 10-K filed Dec 15, 2008.
All executives directly reporting to the CEO and certain other executives may be eligible to
These excerpts taken from the VIRL 10-K filed Dec 14, 2007.
This excerpt taken from the VIRL DEF 14A filed Jan 13, 2005.
Administration. The 2002 Plan will be administered by the Compensation Committee of the Board of Directors. The Compensation Committee has delegated to the Chief Executive Officer the authority to grant Awards to non-executive level employees in accordance with guidelines established by the Board of Directors, and it may delegate certain responsibilities to an employee of the Company (as applicable, the Administrator).
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