MassVentures
Minutes
Compensation Committee
Date and Time
Wednesday September 8, 2021 at 8:00 AM
Location
Join Zoom Meeting
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Meeting ID: 896 6031 8844
Passcode: 043468
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Meeting ID: 896 6031 8844
Passcode: 043468
One tap mobile
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Date and Time: Wednesday September 8, 2021 at 8:00 AM EDT
Location:https://us02web.zoom.us/j/89660318844?pwd=V3NibWpSZGMxcTdZUkZEZGJ5dXY5dz09&from=addon
Meeting ID: 896 6031 8844
Passcode: 043468
One tap mobile
+13017158592,,89660318844#,,,,*043468#
Location:https://us02web.zoom.us/j/89660318844?pwd=V3NibWpSZGMxcTdZUkZEZGJ5dXY5dz09&from=addon
Meeting ID: 896 6031 8844
Passcode: 043468
One tap mobile
+13017158592,,89660318844#,,,,*043468#
Committee Members Present
C. Stepno (remote), D. Cox (remote), M. James (remote), N. Collins (remote), R. Jarquin (remote), W. Asher (remote)
Committee Members Absent
None
Committee Members who arrived after the meeting opened
R. Jarquin
Guests Present
C. Hipwood (remote), J. Madison (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
D. Cox called a meeting of the Compensation Committee Committee of MassVentures to order on Wednesday Sep 8, 2021 at 8:02 AM.
Mr. Hipwood asked if any members of the public would like to comment. It was determined that there were no members of the public present.
C. Stepno made a motion to Enter into Executive Session for the purposes of discussing compensation matters for MassVentures' staff.
D. Cox seconded the motion.
The committee VOTED to approve the motion.
| Roll Call | |
|---|---|
| M. James |
Aye
|
| N. Collins |
Aye
|
| R. Jarquin |
Absent
|
| W. Asher |
Aye
|
| D. Cox |
Aye
|
| C. Stepno |
Aye
|
II. Compensation Committee
A.
Review Compensation Structure and Committee Process
Mr. Hipwood reviewed the current compensation structure and objectives of the meeting.
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 FY22 Incentive Compensation; and discuss any
other compensation issues the Committee considered appropriate.
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 FY22 Incentive Compensation; and discuss any
other compensation issues the Committee considered appropriate.
R. Jarquin arrived at 8:10 AM.
B.
Review of Staff Member Performance
Mr. Hipwood reviewed the overall performance of MassVentures as well as each individual staff member relative to goals set forth for FY 21. Discussion ensued.
C.
Discuss Overall Compensation
Mr. Hipwood presented recommendations for changes to base salary, incentive compensation, and benefits for FY 22. Discussion ensued.
D.
Vote on Changes to Compensation Package
C. Stepno made a motion to Accept the compensation recommendations as discussed.
W. Asher seconded the motion.
The committee VOTED unanimously to approve the motion.
N. Collins made a motion to Exit Executive Session.
W. Asher seconded the motion.
The committee VOTED to approve the motion.
| Roll Call | |
|---|---|
| D. Cox |
Aye
|
| W. Asher |
Aye
|
| C. Stepno |
Aye
|
| N. Collins |
Aye
|
| M. James |
Aye
|
| R. Jarquin |
Aye
|
III. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 10:50 AM.
Respectfully Submitted,
W. Asher