The Board of Formosa Prosonic Industries Berhad (“FPI or the Company”) has established a Remuneration Committee. This Charter sets the guidelines and functions of the Remuneration Committee.

 

 

 

1          BOARD APPROVAL

 

1.1       The Board has approved this Charter. The Board may approve updates and amendments to this Charter from time to time.

 

 

 

2          DEFINITIONS

 

2.1       Unless the contrary intention is expressed in this Charter, the following words (when used in this Charter) have the meaning set out below:

 

  • Board means the Board of Directors of the Company from time to time.
  • Company means Formosa Prosonic Industries Berhad having its registered office at Level 18, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur.
  • Director means a director of the Company.
  • Group means the Company and its subsidiaries.
  • Intranet means any of the Group's internal electronic intranets where Group information is gathered for the exclusive use of employees, contractors, officers, directors and management of the Group.

 

 

 

3          REMUNERATION COMMITTEE MEMBERSHIP

 

3.1       The members of the Committee should consist a majority of non-executive Directors of the Board. The Chairman of the Committee will be appointed by the Board and will be a non-executive Director.

 

 

 

4          REMUNERATION COMMITTEE OPERATION

 

4.1       The Committee will meet at least once a year. Additional meetings may be convened as required by the Committee.

 

 

 

5          REMUNERATION COMMITTEE PURPOSE

 

5.1       The Remuneration Committee will assist the Board in discharging its responsibilities relating to compensation of FPI Directors. The Committee has overall responsibility for evaluating and recommending to the Board remuneration practice, in accordance with FPI's remuneration policy.

 

 

 

6          RESPONSIBILITIES

 

6.1       The responsibilities of the Remuneration Committee include review and recommendation to the Board on:

 

  1. Ensuring policy allows FPI to recruit and retain suitably qualified directors.
  2. Remuneration framework for directors, including non-executive directors.
  3. Aligning the interests of directors to the long-term interests of shareholders.
  4. Demonstrating a clear relationship between directors' performance and remuneration.
  5. Periodically reviewing the adequacy of this Charter.

 

 

 

7          ACCESS TO THIS BOARD CHARTER

 

This Charter will be available for viewing in the Company's annual report or a copy will be sent upon request.

 

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