Outline of Committee Responsibilties - Commititee members to be appointed
Audit Committee
The Audit Committee's functions include: selecting and engaging our independent registered public accounting firm; meeting periodically with management to consider the adequacy of the company's internal controls, the objectivity of the company's financial reporting; and the company's accounting policies and practices; meeting with the company's independent registered accounting firm and with internal financial personnel regarding these matters; and reviewing the company's financial plans and reporting recommendations to the board of directors for approval and to authorize action.
Compensation Committee
The Compensation Committee's functions include: reviewing and recommending to our board of directors, policies, practices, and procedures relating to the compensation of our directors and executive officers and the establishment and administration of the company's employee benefit plans. They also exercise administrative authority under the company's stock plans and employee benefit plans and advise and consult with the company's officers regarding managerial personnel.
Governance Committee
Corporate Governance Committee's functions include reviewing and recommending nominees for election as directors; assessing the performance of the board of directors; developing guidelines for the compensation of the board of directors; and reviewing and administering our corporate governance guidelines. This committee also considers any other issues relating to corporate governance.
Technology Committee
The Technology Committee assesses the health of the company’s technological developments and the scope and quality of its intellectual property. It makes recommendations to the Board as to scope, direction, quality, investment levels, and execution of technology strategies. It provides guidance on the execution of technology strategies formulated by GC China's internal technology council as well as, market entry, and exit; investments, mergers, acquisitions and divestitures; new business divisions and spin-offs; research and development investments; and key competitor and strategic relationship strategies.