This Committee is established from on December 22, 2011.
The main function of the Remuneration Committee is to oversee the following matters:
- Prescribe and periodically review the policies, systems, standards, and structure for the annual and long-term performance goals and compensation of HTC directors and managers.
- Periodically assess the status of achievement of performance goals of HTC directors and managers, and set the content and amounts of their individual compensation.
When performing the official powers of the preceding Article, the Committee shall follow the principles listed below:
- The performance assessment and the compensation level of directors and managers shall take into reference the general pay levels in the industry, and take into account the individual’s time spent and responsibilities, goal achievement status, performance in other positions, and the compensation paid to employees holding equivalent positions in recent years, and evaluate the reasonableness of the correlation between compensation and individual performance, HTC’s operational performance, and future risk exposure, in terms of HTC’s achievement of short-term and long-term business goals and its financial status.
- It shall not produce an incentive for the directors or managerial officers to engage in activity to pursue remuneration exceeding the risks that the Company may take.
- It shall take into consideration the characteristics of the industry and the nature of the Company´s business when determining the ratio of bonus payout based on the short-term performance of its directors and senior managerial officers and the time for payment of the variable part of remuneration.
- Financial Expert
- Independent Director