Corporate Governance

On August 19, 2011 we officially established the "Remuneration Committee" to assist the board in stipulating performance evaluation and reward policies, institutions, standards, and structures for directors, and managers. Related performance evaluations, salaries, bonuses, profit sharing plan, and reward payment methods for board members and supervisors are regularly evaluated by the "Remuneration Committee" and recommended for discussion at the board meeting.

The reward payments of Far Eastern New Century board members and the bonuses of employees are paid according to the achievements in operations that year and the Articles of Incorporation, and are provided in accordance board regulations. The remaining reward payments are given out according to overall operational achievements, the salary reward standards of listed companies, market survey reports issued by professional consulting firms, and consideration of the corporate’s overall financial status and risks in the business environment.

The Committee members elected at 2021.7.29

- Raymond R.M. Tai (Independent director)
- Johnsee Lee (Independent director)
- J.W. Huang (Conform to independent)

The Company has established the Remuneration Committee on 19 August, 2011 and the number of the committee members is three. The tenure of current 5th term Remuneration Committee is from 29 August, 2021 to 28 June, 2024. In 2021, the Remuneration Committee held 2 times and the attendance status of members is disclosed as follows:

Title	Name	Times of Attendance	Times of Attendance by Proxy	Percentage of Attendance (%)	Remark
Convener the 4th term	Bing Shen	1	0	100%	-
Convener the 5th term	Raymond R.M. Tai	1	0	100%	-
Committee member	Johnsee Lee	2	0	100%	-
	J. W. Huang	2	0	100%	-

 

Instances where discussion and results of resolution of the Remuneration Committee and the response to members’ opinion:

Meeting Date (Term)	Mater to be discussed	Resolution	The response to members’ opinion
18 Mar., 2021 The 6th meeting of the 4th term	To discuss and approve the 2020 Directors’ remuneration and employees’ compensation of the Company	Approved by all attending members without objection.	The proposal is submitted to Board of Directors, and approved by all attending Directors.
21 Oct., 2021 The 1th meeting of the 5th term	To discuss and approve the Company’s staff salary structure and annual performance evaluation and assessment form		To execute in accordance with the Remuneration Committee’s resolution

 

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