Compensation Committee Agenda

September 8, 2021, 8:00-9:00 AM

Final

Published on July 25, 2021 at 11:05 AM EDT

Amended on September 7, 2021 at 1:00 PM EDT

Wednesday September 8, 2021 at 8:00 AM EDT

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I.	Opening Items
	A.	Record Attendance
	B.	Call the Meeting to Order
II.	Compensation Committee
	A.	Review Compensation Structure and Committee Process
		The current compensation structure consisted of three components: Base Compensation, Incentive Compensation and Benefits. The objectives of this meeting are to evaluate the performance of the staff for consideration of changes to the Base Compensation and Incentive Compensation; set new individual goals for FY21 Incentive Compensation; and discuss any other compensation issues the Committee considered appropriate.
	B.	Review of Staff Member Performance
		The Committee will discuss the individual performance of the MassVentures employees. In the case of the investment staff, the Committee reviews summaries detailing their performance and accomplishments during the year as well as the performance evaluation report. The performance and accomplishment summaries are prepared by the staff and the performance evaluation report is prepared by Mr. Hipwood.
	C.	Discuss Overall Compensation
		The Incentive Compensation plan seeks to evaluate the staff performance against a combination of team and individual performance measures. The target compensation amount for expected performance is 15% of salary. Based on the relative performance of those expectations, staff can earn anywhere from 0% to 30% of their salary.
	D.	Vote on Changes to Compensation Package
III.	Other Business
IV.	Closing Items
	A.	Adjourn Meeting