SkyWest Airlines 2009 Annual Report Download - page 125

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• Review and discuss with management and the independent registered public accounting firm the
audited financial statements of the Company and the Company’s financial disclosure practices;
• Pre-approve all audit and permissible non-audit fees;
• Provide oversight of the Company’s internal auditors;
• Hold meetings periodically with the independent registered public accounting firm, the
Company’s internal auditors, and management to review and monitor the adequacy and
effectiveness of reporting, internal controls, risk assessment and compliance with Company
policies;
• Review the Company’s consolidated financial statements and related disclosures;
• Review with management and the registered independent public accounting firm and approve
disclosure controls and procedures and accounting principles and practices; and
• Perform other functions or duties deemed appropriate by the Board.
Additional information regarding the Audit and Finance Committee’s processes and procedures is
addressed below under the heading ‘‘Audit & Finance Committee Disclosure.’’ The Report of the
Audit & Finance Committee is set forth on page 43 of this Proxy Statement.
Compensation Committee
The Compensation Committee has five members and met three times in 2009. The Compensation
Committee’s responsibilities, which are discussed in detail in its charter, include the responsibility to:
• In consultation with the Company’s senior management, establish the Company’s general
compensation philosophy and oversee the development and implementation of the Company’s
compensation programs;
• Recommend the base salary, incentive compensation and any other compensation for the
Company’s Chief Executive Officer to the Board and review and approve the Chief Executive
Officer’s recommendations for the compensation of all other officers of the Company and its
subsidiaries;
• Administer the Company’s incentive and stock-based compensation plans, and discharge the
duties imposed on the Compensation Committee by the terms of those plans;
• Review and approve any severance or termination payments proposed to be made to any current
or former officer of the Company;
• Prepare and issue the report of the Compensation Committee required by the rules of the
Securities and Exchange Commission; and
• Perform other functions or duties deemed appropriate by the Board.
Additional information regarding the Compensation Committee’s processes and procedures for
consideration of executive compensation are addressed below under the Heading ‘‘Compensation
Discussion and Analysis.’’
Nominating and Corporate Governance Committee
The Nominating and Corporate Governance Committee has four members and met once during
2009. The Nominating and Corporate Governance Committee’s responsibilities, which are discussed in
detail in its charter, include the responsibility to:
• Develop qualifications and criteria for selecting and evaluating directors and nominees;
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