XM Radio 2009 Annual Report Download - page 16

Download and view the complete annual report

Please find page 16 of the 2009 XM Radio annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 207

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207

GOVERNANCE OF THE COMPANY
What are the responsibilities of the board of directors?
The business and affairs of our company are managed by or under the direction of our board of directors.
Our board reviews and ratifies senior management selection and compensation, monitors overall corporate
performance and ensures the integrity of our financial controls. Our board of directors also oversees our
strategic and business planning processes.
What are the current committees of the board of directors and who are the members of these
committees?
Our board of directors maintains an Audit Committee, a Compensation Committee and a Nominating and
Corporate Governance Committee.
Copies of the charters for the Audit Committee and the Nominating and Corporate Governance
Committee are available on our website at http://investor.sirius.com. The Compensation Committee has not
adopted a charter.
The number of committee meetings held during 2009 are as follows: 11 audit committee meetings, 10
compensation committee meetings and 3 nominating and corporate governance committee meetings.
The following table shows the current members and chair of each committee and the principal functions
performed by each committee:
Committee Functions
Audit
Members: • Selects our independent registered public accounting firm
Joan L. Amble* • Reviews reports of our independent registered public accounting firm
Eddy W. Hartenstein
James P. Holden
• Reviews and approves the scope and cost of all services, including all
non-audit services, provided by the firm selected to conduct the audit
James F. Mooney • Monitors the effectiveness of the audit process
• Reviews adequacy of financial and operating controls
• Monitors corporate compliance program
Compensation
Members: • Reviews our executive compensation policies and strategies
Lawrence F. Gilberti* • Oversees and evaluates our overall compensation structure and programs
James P. Holden
Jack Shaw
Nominating and Corporate
Governance
Members:
Lawrence F. Gilberti
• Develops and implements policies and practices relating to corporate
governance
James F. Mooney* • Reviews and monitors implementation of our policies and procedures
Jack Shaw • Assists in developing criteria for open positions as Common Stock
Directors on the board of directors
• Reviews background information on potential candidates for Common
Stock Directors and makes recommendations to the board of directors
• Makes recommendations to the board of directors with respect to
committee assignments
* Chair
9