Compensation Committee
A compensation committee is an operating committee of a corporation’s board of directors. Generally, compensation committees are formed by the board of a public corporation as part of its corporate governance best practices. The board of a large private corporation may also choose to form a compensation committee as part of its best practices. A compensation committee of a Canadian public corporation is generally composed of independent directors. The duties of a compensation committee are typically outlined in its committee charter, which is often available on the corporation’s website. The committee’s duties include reviewing and recommending for board approval the compensation plan, including incentive plans, of the corporation’s executive officers.
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