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Remuneration Committee

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

Role Name Experience and professional qualificiations

Independent
Director

 Raymond R.M. Tai

With work experience for more than 5 years.

Having work experience in the area of commerce, law, finance, or accounting, or otherwise necessary company business.

Experience: Adjunct Instructor, Department of Foreign Languages and Literatures, National Taiwan University; Third Secretary, Permanent Representative of the R.O.C. to the United Nations;  Second Secretary, Taipei Economic and Cultural Representative Office in the United States; Director-General, Government Information Office, Executive Yuan, R.O.C. Taiwan & Deputy Director, National affairs, Executive Yuan, R.O.C. Taiwan; Adjunct Professor, Department of Journalism, Chinese Culture University; Consultant, Department of North America, Ministry of Foreign Affairs; Representative, Taipei Economic and Cultural Office in United Kingdom; Deputy Secretary-General to the President and Spokesperson, Office of the President R.O.C.(Taiwan); Executive Secretary, The National Unification Council, Office of the President R.O.C.(Taiwan) & Senior Advisor and Convener, The National Unification Council, Office of the President R.O.C.(Taiwan); Ambassador Extraordinary and Plenipotentiary, Embassy of the R.O.C.(Taiwan) to the Holy See; Independent Director of Far Eastern Department Store Ltd.
Independent
Director		 Johnsee Lee With work experience for more than 5 years.
Having work experience in the area of commerce, law, finance, or accounting, or otherwise necessary company business.
Experience: President and General Director, Industrial Technology Research Institute; Senior Scientist and Project Leader, Johnson Matthey Inc., West Deptford, NJ; Principal Investigator, Chem. Technology Div., Argonne National Laboratory, Argonne, IL

Conform to
independent

 J. W. Huang With work experience for more than 5 years.
Having work experience in the area of commerce, law, finance, or accounting, or otherwise necessary company business.
Experience: SVP of HR Department of Far Eastern Department Store Ltd.; Director of Yu Chang Technological and Commercial Vocational Senior High School

 

The Company established the Remuneration Committee on 19 August, 2011 and the number of the committee members is three. The tenure of the current 5th term Remuneration Committee is from 29 August, 2021 to 28 June, 2024. From 2023 to 2024, the Remuneration Committee held 3 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 5th term

 Raymond R.M. Tai 3 0 100% -

Committee member

Johnsee Lee

3

0

100%

-

J. W. Huang

3

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

Feb 17, 2023 The 4th meeting of the 5th term
  1. The 2022 Directors’ remuneration and employees’ compensation of the Company
  2. The 2022 performance evaluation items and forms

Approved by all attending members without objection.
  1. The proposal is submitted to the Board of Directors and approved by all attending Directors.
  2. To execute in accordance with the Remuneration Committee’s resolution
Oct 06, 2023 The 5th meeting of the 5th term In order to retain outstanding talents, the eligibility criteria for the Employee Stock Ownership Plan (ESOP) have been expanded in accordance with the "Articles of the Employee Stock Ownership Plan Association of Far Eastern New Century Corporation". Approved by all attending members without objection. To execute in accordance with the Remuneration Committee’s resolution
Feb 26, 2024 The 6th meeting of the 5th term
  1. Performance Evaluation of the Company in 2023.
  2. Performance Evaluation of the Board of Directors and the functional committee in 2023.
  3. Year-End Bonus for 2023.
  4. 2023 Directors’ remuneration and employees’ compensation of the Company
  5. The rate of salary adjustment for employees in 2024.
 Approved by all attending members without objection.
  1. To execute in accordance with the Remuneration Committee’s resolution
  2. The proposal is submitted to the Board of Directors and approved by all attending Directors.

 

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Remuneration Committee Charter

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