Wachtell Lipton's just-updated edition of its always-instructive Compensation Committee Guide provides an overview of the key rules, regulations and standards applicable to listed company compensation committees, and suggested practices that compensation committees should consider - including those relating to committee meetings and minute-taking & approvals. The firm indicates that the guide is also relevant to private companies - particularly those that may at some point consider accessing the public capital markets. Sample compensation committee charters for both NYSE and Nasdaq companies are included as exhibits for reference and tailoring to specific company facts and circumstances.