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Audit Committee
The primary purpose of the Audit Committee is to protect the interests
of the Company’s stockholders and directors by assisting the Board
of Directors in fulfilling its responsibilities over the financial policies
and reporting process, internal controls structure and compliance with
legal and regulatory requirements. The Audit Committee recommends to
the Board the appointment of the independent auditors, and periodically
reviews and evaluates their performance and independence from management.
The Audit Committee acts under the authority of the Audit Committee
Charter adopted by the Board of Directors in March 2006.
>>Charles O. Buckner (Chairman)
>> Steven W. Cattron
>> J. Darby Sere´
Compensation and Stock Option Committee
The primary purpose of the Compensation and Stock Option Committee is
to recommend to the Board of Directors compensation for officers of
the Company and to administer the Company’s Stock Option Plan.
Among other things, the Committee recommends to the Board the executives
to be included in the Company’s Executive Compensation Plan, the
annual base salary for covered executives and any grants of stock options
pursuant to the Executive and Middle Management Compensation Plans.
>> Gordon L. Wright (Chairman)
>> Steven W. Cattron
>> William A. Henry
Nominating Committee
The primary purpose of the Nominating Committee is to recommend candidates
to serve on the Board of Directors. The Nominating Committee acts under
the authority of the Nominating Committee Charter approved and adopted
by the Board of Directors in March 2006.
The Nominating Committee evaluates candidates
for service on the Board of Directors based on the Policy Statement
Regarding the Selection and Tenure for Board of Directors adopted by
the Company in March 2006and incorporated into the Charter. Nominees
are chosen for their ability to represent all of the shareholders, and
for their character, judgment, fairness and overall ability. Desirable
nominees bring valid business or professional knowledge and experience,
preferably in the energy industry that can bear on the Company’s
strategies and deliberations.
>> John A. Raasch (Chairman)
>> J. Darby Sere´
>> Gordon L. Wright
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