This excerpt taken from the WST DEF 14A filed Mar 26, 2009.
The Compensation Committee. The compensation committee monitors the effectiveness of our executive compensation programs in realizing its compensation philosophy; reviews and approves corporate goals and objectives relevant to the compensation of our executive officers and evaluates their performance against those goals and objectives; and, either as a committee or together with the other independent directors, determines and approves their compensation levels based on that evaluation. Final decisions on the compensation of our chief executive officer are discussed with and approved by the independent directors in executive session. The compensation committee also makes recommendations to our board on incentive and equity-based
compensation plans. In overseeing the administration of those plans, the compensation committee approves all grants and awards to executive officers, establishes performance goals and determines whether or not those goals have been met.
Our compensation committee has delegated certain authority, responsibilities and duties to a committee of senior officers, referred to as the plan committee. The plan committee may make equity awards to newly hired employees as part of a new-hire package and to existing employees in connection with promotions or for retention purposes, subject to guidelines and an overall annual share limitation. The plan committee may not make any awards or grants to our officers. The plan committee is composed of our CEO, vice president, human resources, general counsel and controller.
This excerpt taken from the WST DEF 14A filed Mar 27, 2008.
L. Robert Johnson, Chairman
Patrick J. Zenner
This excerpt taken from the WST DEF 14A filed Mar 30, 2006.
Compensation Committee. The Compensation Committees responsibilities include monitoring the effectiveness of the Companys executive compensation programs in achieving the Boards compensation philosophy; reviewing and approving corporate goals and objectives relevant to the Chairman and CEOs compensation and evaluating his performance against those goals and objectives; and, either as a committee or together with the other independent Directors, determining and approving the Chairman and CEOs compensation level based on that evaluation. The Committee also makes recommendations to the Board with respect to incentive and equity-based compensation plans. In overseeing the administration of those plans, the Compensation Committee approves all grants and awards to executive officers, establishes performance goals and determines whether or not such goals have been attained. Each year, the Committee produces a report on executive compensation, which is contained in this Proxy Statement under the heading Report of the Compensation Committee on Executive Compensation. In carrying out its responsibilities, the Committee is authorized to engage, and has engaged, outside advisors to consult with it as the Committee deems appropriate.