Committee Charters

AUDIT COMMITTEE

The purpose of the Audit Committee is to assist the Board of Directors in fulfilling its responsibility in the oversight and supervision of:

  • The audit of OPTI’s financial statements, managing the relationship with the auditor, and meeting with the auditor as required in connection with the auditor’s services;
  • The preparation and reporting of OPTI’s annual and quarterly financial statements and management’s discussion and analysis;
  • OPTI’s accounting and financial reporting practices and procedures;
  • The adequacy of OPTI’s internal controls and accounting procedures; and
  • The quality and integrity of OPTI's financial statements.
CURRENT MEMBERSHIP:
Robert G. Puchniak (Chair), Charles Dunlap, Christopher P. Slubicki

 

COMPENSATION COMMITTEE

The purpose of the Compensation Committee is to assist the Board of Directors in fulfilling its responsibilities in relation to:

  • Determining the adequacy and appropriateness of the compensation to officers and employees of OPTI as well as the Board of Directors; and
  • Administering and making recommendations regarding the operation of OPTI’s Stock Option Plan and any other long-term incentive programs of OPTI.
CURRENT MEMBERSHIP:
Ian W. Delaney (Chair), Randall Goldstein, Christopher P. Slubicki, Samuel Spanglet

 

GOVERNANCE AND NOMINATING COMMITTEE

The purpose of the Governance and Nominating Committee is to assist the Board of Directors in fulfilling its responsibilities in relation to:

  • The monitoring and oversight of the quality and effectiveness of OPTI’s corporate governance practices and policies; and
  • Considering nominees for the Board of Directors.
CURRENT MEMBERSHIP:
James M. Stanford (Chair), Ian W. Delaney, Robert G. Puchniak, James van Hoften

 

TECHNICAL COMMITTEE

The purpose of the Technical Committee is to assist the Board of Directors in fulfilling its responsibilities in relation to:

  • The monitoring and oversight of OPTI’s independent reserves evaluation process and public disclosure of reserves data and related information;
  • The appointment of the independent engineer, managing the relationship with the independent engineer, and meeting with the independent engineer as required;
  • Ensuring that employees of OPTI are provided with a safe environment in which to perform their duties; and
  • The monitoring and oversight of the policies and procedures of OPTI for ensuring compliance with environmental regulatory requirements.
CURRENT MEMBERSHIP:
Charles Dunlap (Chair), Yoram Bronicki, Samuel Spanglet, James van Hoften