Compensation Committee

A committee formed by the board of directors that responsible for compensation decisions. Compensation committees are usually required by market exchanges (e.g., NYSE, NASDAQ), with the obligation that it consist only of independent directors. Furthermore, the committee is required to have a written charter and mandatory duties, specifically relating to the supervision of compensation advisors. as required by Exchange Act Rule 10C-1. NASDAQ requires that the compensation committee have at least two members.

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