Executive Compensation Best Practices demystifies the topic of executive compensation, with a hands-on guide providing comprehensive compensation guidance for all members of the board. Essential reading for board members, CEOs, and senior human resources leaders from companies of every size, this book is the most authoritative reference on executive compensation.
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Executive compensation practices are under enormous scrutiny from activist shareholders, corporate governance rating groups, the media, and lawmakers. This public controversy over executive pay has resulted from the failure of compensation committees to use "best practices" in establishing CEO compensation and in the failure to adequately explain to shareholders both the methodology used and the growing competition for executive talent with private equity funds.
Executive Compensation Best Practices demystifies this topic, with a hands-on guide providing comprehensive compensation guidance for all members of the board, as well as best practice guidance for compensation committee members and executives who work with the compensation committee.
Authors Frederick Lipman and Steven Hall provide the compensation committee of the board of directors for both profit and nonprofit organizations with a thorough reference to executive compensation best practices, including:
- Establishing goals and objectives for executives before performance
Tying executive officer goals into the strategic plan of the company as well as the year-to-year budget
Best practices in establishing peer groups and benchmarking
Competing with private equity groups for executive talent
Examples of some of the best practices by major companies in describing to shareholders executive compensation goals and objectives
Best practices in the routine operations of compensation committees
Best practices to avoid charges of conflict of interest
Best practices that should be followed by executives in negotiating their own employment and severance agreements
Including best practice guidance on the new Securities and Exchange Commission (SEC) executive compensation disclosure rules, which were issued in August 2006, Executive Compensation Best Practices contains sample agreement forms and results and analysis of the latest compensation studies.
From the Back Cover
Praise for Executive Compensation Best Practices
"Fred Lipman and Steve Hall have written a book that should be the 'bible' of every compensation committee chair and be read by every committee member. Their well-balanced listing of what 'best practices' should be in fixing executive compensation is a checklist for every compensation committee meeting. Their recognition that a compensation committee can be as derelict in setting compensation policy too low as it has been setting it too high is a particularly important observation." —Roderick Hills, former chairman of the U.S. Securities and Exchange Commission Hills Stern & Morley LLP
"This book is the most authoritative guide I have read on executive compensation. In today's climate it is a must read for board members, CEOs, and senior human resources leaders from companies of every size, and we strongly recommend it to our executive search clients." —Alan J. Kaplan, President & CEO, Kaplan & Associates, Inc.
"Executive Compensation Best Practices by Fred Lipman and Steve Hall provides a valuable addition to any corporate governance library. The book contains a comprehensive coverage of best U.S. compensation practices with?numerous practical examples—for instance, there is an interesting discussion on the impact of the growth of private equity upon compensation levels. The book also includes helpful discussions of the latest SEC rules that will be invaluable for directors who are currently members of compensation committees. I enjoyed reading it." —Chris Pierce, CEO, Global Governance Services Ltd., United Kingdom
"Every member of a board compensation committee should be reading this book, and then keep it close-by for ready reference." —Fenton R. Talbott, Chairman of the Compensation Committee StoneMor Partners L.P.
"Executive compensation is one of the complex and sensitive issues facing all executives, boards, media, regulators, and investors with great accounting, tax, and stock market implications. Lipman and Hall have done an excellent job of simplifying the complex subject matter useful to all interested parties." —S. Rao Vallabhaneni, author of Corporate Management, Governance, and Ethics Best Practices
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Most Helpful Customer Reviews
3 of 3 people found the following review helpful:
3.0 out of 5 stars
Somewhat Helpful,
By ljm3764 (Houston, TX USA) - See all my reviews
This review is from: Executive Compensation Best Practices (Wiley Best Practices) (Hardcover)
Overall, this book provides a solid overview of a range of executive compensation practices. The section on proxy statement disclosures was particularly helpful because it provides a number of specific examples from proxy statements issued after the new SEC rules took effect.Other sections are not as strong. I suspect that the book is best suited for junior level advisors to Compensation Committees (such as junior level compensation consultants or law firm associates), rather than the committee members themselves. For more senior professionals and committee members, the book may provide some helpful reminders. Still, the price is moderate enough to justify purchasing it, particularly if the proxy statement disclosure section will be of interest.
2 of 2 people found the following review helpful:
5.0 out of 5 stars
A Must Read for all Executives,
By B. Helverson (Phila., PA) - See all my reviews
This review is from: Executive Compensation Best Practices (Wiley Best Practices) (Hardcover)
I agree with the following endorsements:"Fred Lipman and Steve Hall have written a book that should be the 'bible' of every compensation committee chair and be read by every committee member. Their well-balanced listing of what 'best practices' should be in fixing executive compensation is a checklist for every compensation committee meeting. Their recognition that a compensation committee can be as derelict in setting compensation policy too low as it has been setting it too high is a particularly important observation." --Roderick Hills, former chairman of the U.S. Securities and Exchange Commission Hills Stern & Morley LLP "This book is the most authoritative guide I have read on executive compensation. In today's climate it is a must read for board members, CEOs, and senior human resources leaders from companies of every size, and we strongly recommend it to our executive search clients." --Alan J. Kaplan, President & CEO, Kaplan & Associates, Inc. "Executive Compensation Best Practices by Fred Lipman and Steve Hall provides a valuable addition to any corporate governance library. The book contains a comprehensive coverage of best U.S. compensation practices with?numerous practical examples--for instance, there is an interesting discussion on the impact of the growth of private equity upon compensation levels. The book also includes helpful discussions of the latest SEC rules that will be invaluable for directors who are currently members of compensation committees. I enjoyed reading it." --Chris Pierce, CEO, Global Governance Services Ltd., United Kingdom "Every member of a board compensation committee should be reading this book, and then keep it close-by for ready reference." --Fenton R. Talbott, Chairman of the Compensation Committee StoneMor Partners L.P. "Executive compensation is one of the complex and sensitive issues facing all executives, boards, media, regulators, and investors with great accounting, tax, and stock market implications. Lipman and Hall have done an excellent job of simplifying the complex subject matter useful to all interested parties." --S. Rao Vallabhaneni, author of Corporate Management, Governance, and Ethics Best Practices
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Inside This Book
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Key Phrases - Statistically Improbable Phrases (SIPs):
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summary compensation table, business combination, negotiating executive employment, option granting practices, interest retroactive, internal pay equity, private equity buyer, payment trigger, phantom plan, equity awards, named executive officer, specified employee, vesting conditions, equity incentives, legally binding right, nonqualified deferred compensation plan, restricted stock awards, compensation consultant, director compensation, tax reimbursement, vesting date, cash retainer, negotiating employment, grant date, parachute payment Key Phrases - Capitalized Phrases (CAPs): (learn more)
Internal Revenue Code, The Council of Institutional Investors, The Wall Street Journal, General Electric, Code Section, Home Depot, Towers Perrin, Accounting Firm, Chief Executive Officer, Bank of America Corporation, Key Associate Stock Plan, Eastern Time, The Coca-Cola Company, Gross-Up Payment, Professor Lie, Excise Tax, Robert Nardelli, Incumbent Board, America Corporation Schedule, The Exxon Mobil Corporation, Stock Plan Award Subcommittee, Emphasis Supplied, Lee Raymond, Internal Revenue Service, The New York Times Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Surprise Me!
summary compensation table, business combination, negotiating executive employment, option granting practices, interest retroactive, internal pay equity, private equity buyer, payment trigger, phantom plan, equity awards, named executive officer, specified employee, vesting conditions, equity incentives, legally binding right, nonqualified deferred compensation plan, restricted stock awards, compensation consultant, director compensation, tax reimbursement, vesting date, cash retainer, negotiating employment, grant date, parachute payment Key Phrases - Capitalized Phrases (CAPs): (learn more)
Internal Revenue Code, The Council of Institutional Investors, The Wall Street Journal, General Electric, Code Section, Home Depot, Towers Perrin, Accounting Firm, Chief Executive Officer, Bank of America Corporation, Key Associate Stock Plan, Eastern Time, The Coca-Cola Company, Gross-Up Payment, Professor Lie, Excise Tax, Robert Nardelli, Incumbent Board, America Corporation Schedule, The Exxon Mobil Corporation, Stock Plan Award Subcommittee, Emphasis Supplied, Lee Raymond, Internal Revenue Service, The New York Times Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Surprise Me!
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