MMI Executive Compensation Policy 1

 
I.    Purpose:
 
A.  To assure that Medical Ministry International is able to retain high quality executive leadership by providing reasonable compensation.
 
B.  To assure that decisions regarding executive compensation are made through a process free of potential conflicts of interest.
 
II.   Persons whose compensation is subject to this policy
 
A.  The Executive Director/CEO’s compensation shall be reviewed under this policy.
 
 
III. Finance Committee
 
A.  The Finance Committee of the board is authorized to make recommendations to the
Board regarding executive compensation.
 
B.  Only those members of the Finance Committee who are free of conflicts of interest may be involved in evaluation of executive compensation.
 
C.  The Finance Committee should, to the extent reasonably available, rely upon appropriate external data as to comparability prior to making its recommendation, and shall contemporaneously place such data and other reasons for its recommendation in the minutes.
 
1.   If the Finance Committee does not have data as to comparability, it shall document any other bases for believing the proposed compensation is reasonable.
 
        D.  The Finance Committee shall make this determination at least once annually. IV. Final Board Action
1.  Only those Independent directors of the board who are free of conflicts of interest may vote on executive compensation.
 

                2.  The Board shall review and approve executive compensation, after a review of comparability data or other evidence that compensation is  reasonable, and shall contemporaneously substantiate its deliberation and decision in the minutes.

 
 1 Drafted to comply with the rebuttable presumption in Treas. Reg. § 53.4958-6 of the Excess Benefits Regulations and to address revised Form 990, Part VI, Section B, question 15.

  

Adopted by the Board December of 2012