MassVentures
Minutes
Compensation Committee
Date and Time
Wednesday October 5, 2022 at 8:00 AM
Committee Members Present
J. Griffin (remote), M. Fuller (remote), M. James (remote), M. Valanzola (remote), R. Jarquin (remote)
Committee Members Absent
W. Asher
Guests Present
C. Hipwood (remote), J. Madison (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
M. Fuller called a meeting of the Compensation Committee Committee of MassVentures to order on Wednesday Oct 5, 2022 at 8:05 AM.
II. Compensation Committee
A.
Review Compensation Structure
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 9:01 AM.
Respectfully Submitted,
R. Jarquin
Mr. Hipwood presented an analysis of the current MassVentures' compensation structure relative to compensation structures at similar quasi-public agencies both within Massachusetts and other states.
After considerable discussion about the merits of base and incentive compensation along with factors such as the self-sustaining nature of MassVentures, the size of the organization, and the need to attract and retain employees, it was agreed that the compensation committee would reconvene at a later date to finalize a plan for fiscal year 2023.