v. Review, recommend and advise on all forms of directors’ remuneration e.g. - Basic Salary - Profit-sharing schemes (if any) - Share options - Any other benefits; w. To establish fair, formal and transparent procedures for developing a policy for Board of Directors and Senior Management’s remuneration and for fixing the remuneration packages of individual Directors and Senior Management; x. To determine the appropriate level of remuneration for Board of Directors and Senior Management based on the Company’s performance in managing material sustainability risks and opportunities; y. To structure the component parts of the Executive Directors’ remuneration so as to link rewards to corporate and individual performance; whereas, in the case of Non-Executive Directors, the level of remuneration should reflect the experience and level of responsibilities undertaken by the particular Non-Executive Director concerned; z. Conduct continued assessment of individual Executive Directors to ensure that remuneration is directly related to performance over time. In this regard, the review of Non-Executive Directors’ fees may take place at a different time of the year from the review of Executive Directors’ salaries; aa. To monitor and assess the suitability of such proposed performance related formula (e.g. whether the formula is based on individual performance, company profit performance, earnings per share, etc.) and to see that awards under the Company’s share option schemes are consistent with the Company’s overall performance and provide an additional incentive to Management; bb. To provide an objective and independent assessment of the benefits granted to Executive Directors; cc. To ensure that there are adequate pension arrangements for the Executive Directors; dd. To consider, the extent of the details of the Board of Directors and Key Senior Management’s remuneration to be reported in the Company’s Annual Report in compliance with the Malaysian Code on Corporate Governance 2021 (“MCCG 2021”) and the MMLR of Bursa Malaysia; ee. Introduce any regulation which would enable the smooth administration and effective discharge of the NRC’s duties and responsibilities; ff. To furnish a report to the Board of any findings of the NRC; gg. Engage or appoint such other competent and professional advisers/consultants as may be deemed fit to assist the NRC in the smooth discharge of its duties herein; hh. To review the Remuneration Policy/Framework for the Board of Directors and Senior Management of the Group in order to attract and retain key personnel of requisite quality that increases productivity and profitability in the long run. The Remuneration Policy is available on the Company’s website at www.wascoenergy.com; ii. The Remuneration Policy and procedures determines the remuneration of Directors and Senior Management which takes into account the demands, complexity and performance of the Company as well as the skills and experience required and which properly reflect the different roles and responsibilities of the Executive Directors, Non-Executive Directors and Senior Management accordingly; Nomination and Remuneration Committee 113 Wasco Berhad
RkJQdWJsaXNoZXIy NDgzMzc=