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Table of Contents • • • • • prepare the report of the audit committee for inclusion in our proxy statements to be filed with the SEC; develop procedures for employees to submit concerns anonymously about questionable accounting or audit matters; review our policies on risk assessment and risk management; review related person transactions; and approve or, as required, pre-approve, all audit and all permissible non-audit services, other than de minimis non-audit services, to be performed by the independent registered public accounting firm. Our audit committee will operate under a written charter, to be effective prior to the completion of this offering, that satisfies the applicable rules and regulations of the SEC and the listing standards of the Nasdaq Global Select Market. Compensation Committee Our compensation committee consists of Dr. Narasimhan and Ms. Razavi, with Dr. Narasimhan serving as Chairperson. Each member of the compensation committee will meet the requirements for independence under the listing standards of the Nasdaq Global Select Market and will be a non-employee director, as defined pursuant to Rule 16b-3 promulgated under the Exchange Act. Our board of directors has determined that each of Dr. Narasimhan and Ms. Razavi meets the requirements for independence under the listing standards of the Nasdaq Global Select Market and is a non-employee director, as defined pursuant to Rule 16b-3 promulgated under the Exchange Act. We believe that the composition and functioning of our compensation committee complies with all applicable requirements of the Sarbanes-Oxley Act and all applicable SEC rules and regulations. Following the completion of this offering, our compensation committee will, among other things: • • • • • • • • review, approve, and determine, or make recommendations to our board of directors regarding, the compensation of our executive officers; review and approve, or make recommendations to our board of directors regarding, our compensation strategy and practices with respect to our executive officers; administer our equity-based and other compensation plans, except with respect to non-employee members of our board of directors; review and adopt, or make recommendations to our board of directors regarding, new, or amendments to existing, compensation plans, including any equity-based plans; review and approve, or make recommendations to our board of directors regarding, any employment agreements, severance agreements, change in control protections, indemnification agreements, and other similar arrangements, policies, and plans for any of our executive officers; to the extent it determines it is necessary or appropriate, retain any compensation consultants, outside legal counsel, or other advisors; review and discuss with management the “Compensation Discussion and Analysis” required to be included in our proxy statement and annual report on Form 10-K to be filed with the SEC; and take any action that our compensation committee determines is necessary or appropriate with respect to our broad-based employee benefit plans, policies, and programs. Our compensation committee will operate under a written charter, to be effective prior to the completion of this offering, that satisfies the applicable rules and regulations of the SEC and the listing standards of the Nasdaq Global Select Market. 259
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