Priceline 2010 Annual Report Download - page 21
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19
requiring the Company to continually look for opportunities to further embed systematic enterprise risk
management into ongoing business processes across the organization. The Board actively encourages
management to continue to develop this process.
In addition to the Board’s role in enterprise risk management, various committees of the Board are also
tasked to be responsible for the oversight of certain risks. More specifically, the Audit Committee is charged with
oversight of the process by which management assesses and manages risk as well as the company’s major
financial risk exposures and the steps taken to monitor and control these exposures, and is charged with oversight
of risk management relating to the company’s hedging activities and use of derivative instruments. The
Compensation Committee oversees risks related to the company’s compensation programs. The Compensation
Committee has reviewed and assessed the Company’s compensation policies and practices for all employees,
including our named executive officers. Throughout the year, the Compensation Committee considers the
relationship of the Company’s risk oversight practices to employee compensation policies and practices. The
Compensation Committee believes that the Company’s compensation programs do not create or encourage
excessive risk-taking that is reasonably likely to have a material adverse effect on the Company.