compensation committee

compensation committee
USA
In a publicly-held company, an operating committee of the company's board of directors. A compensation committee of a publicly-traded company in the US is composed of independent and outside directors referred to as non-executive directors. The duties of a compensation committee are typically outlined in a committee charter, often available on the company's website, and relate to reviewing and approving the compensation of the company's chief executive officer and the incentive compensation plans for the executive officers and reviewing and recommending for the approval of the entire board of directors the compensation of other executive officers of the company.
See Practice Note, Corporate Governance Standards: Compensation Committee (www.practicallaw.com/7-381-0956).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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