and Governance Committee oversees governance related risks, board independence, and management and director succession planning. The Audit Committee is responsible for overseeing risk management
of financial matters, financial reporting, the audit process, the adequacy of internal control over financial reporting, disclosure controls and procedures, and related party transactions. The Compensation Committee oversees risks related to
compensation policies and practices and human capital. In its oversight, the Compensation Committee examines whether the Companys compensation policies and practices are aligned with the Companys goals and risk tolerance.
Environmental, Social and Governance
Acting with integrity, fairness and respect is one of our core values. This core value guides us in dealing with our stakeholders, customers,
suppliers and the communities in which we conduct our business. It is the basis upon which we examine how we treat our employees, other stakeholders and the environment. In 2020, the Company adopted an Environment, Social and Governance (ESG)
statement to establish a benchmark for our efforts in protecting the environment, promoting the health, safety and employment opportunities of our employees and engaging in corporate governance practices that reflect ethical and responsible behavior
and to encourage continuous improvement in these areas.
Environment. PCTEL is committed to environmental stewardship. We
have invested in capital improvements to our facilities, making them safer for the environment and our employees. Recently, we have taken additional energy saving measures, including streamlining and automating many of our production processes and
installing LED lights, programmable thermostats, a new roof, and more efficient HVAC units on our premises. We recycle electronics, plastic, paper, cardboard, and metals, as well as customer products that are returned to PCTEL for trade-in or disposal. We have eliminated many plastic packing materials and replaced them with cardboard material and installed box-making machinery to reduce cardboard
consumption. We reduced the use of packaging foam and substituted biodegradable material. In addition, we have retained experts to advise us in connection with the protected wetlands near our Bloomingdale, Illinois production facility. Our goal is
to continue to seek cost-effective methods to reduce our environmental impact.
Social. PCTEL is committed to the health and
safety of our employees. We are proud to report that during the COVID-19 pandemic, we proactively took protective measures and were successful in preventing an outbreak of the virus among our production
employees. We provided paid leave to US-based production employees who were exposed to the virus beyond federal and state requirements and proactively closed the production facilities for two weeks during an
expected surge in COVID-19 cases. In addition, we extended paid leave throughout 2020 for employees deemed at-risk so they would not feel compelled to report
to work for economic reasons. We installed automated or touchless doors, drinking fountains, faucets, toilets, and dispensers and established new operating procedures for working distantly but together in our production facilities and offices. As a
result of these measures, our production facilities continued to operate throughout 2020 and we did not furlough or terminate any employees as a result of the COVID-19 pandemic. During the second quarter of
2020, the Company began conducting surveys of employees issues and concerns related to the COVID-19 pandemic and the CEO hosted bi-monthly town hall
meetings at which he informed employees of the Companys challenges and progress throughout the pandemic and addressed their written comments and questions. The Company believes that this outreach helped to connect employees and align the
Companys and employees interests during the pendency of the pandemic.
More generally, PCTEL is committed to protecting,
educating, training, and supporting our employees and encouraging them to be involved and make a difference in their communities. We provide our employees with healthcare and other wellness benefits that exceed the norms for our industry and size,
including quality comprehensive health and dental care insurance, Company-paid vision insurance for employees, their families and domestic partners, and Company-paid life insurance and short and long-term disability insurance. In recent years, we
have developed and refined programs to provide training and to encourage our employees to be good corporate citizens and stewards of our assets, including our reputation. These programs include a leadership
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