No employee of the Manager was an immediate family member of a director and Chief Executive Officer and whose
remuneration exceeded S$50,000 during the financial year 2014. “Immediate family member” means the spouse, child,
adopted child, step-child, sibling and parent.
NOMINATING AND REMUNERATION COMMITTEE
With effect from 27 January 2015, the existing Remuneration Committee of the Manager has been expanded to include
roles and responsibilities of a nominating committee and the existing Remuneration Committee is being renamed as the
Nominating and Remuneration Committee. The Nominating and Remuneration Committee has assumed its roles and
responsibilities in accordance to the terms of reference approved by the Board.
The Nominating and Remuneration Committee currently comprises Mr. Puah Tuan Soon Benson (Chairman of the Nominating
and Remuneration Committee) and Mr. Tan Bong Lin, both of whom are non-executive and independent directors, and Dr.
Tan See Leng, a non-executive director.
The Nominating and Remuneration Committee has a set of terms of reference defining its scope of responsibility and
authority, which includes the following:
(a)
recommending to the Board a framework of remuneration for key management personnel, and to determine
specific remuneration packages for the Board and key management personnel covering all aspects of remuneration
including but not limited to director’s fees, salaries, allowances, bonuses, options, unit-based incentives, awards
and benefits in kind;
(b)
reviewing the appropriateness of remuneration awarded to attract, retain and motivate the executive director and
key management personnel needed to run the Manager and PLife REIT successfully;
(c)
reviewing the pay and employment conditions within the industry and those of the peer companies to ensure that
the executive director and key management personnel are adequately remunerated;
(d)
reviewing the adequacy and form of remuneration to the directors and key management personnel to ensure
that the remuneration realistically commensurate with the responsibilities and risks involved in being an effective
member, as well as corporate and individual performance;
(e)
considering the eligibility of the executive director and key management personnel for benefits under long-term
incentive schemes and the administration thereof;
(f)
reviewing the use of long-term incentives, including share schemes, for the executive director and key
management personnel;
(g)
proposing candidates to the Board and Board committees of the Manager;
(h)
overseeing the succession planning for the Board;
(i)
assessing the performance and effectiveness of the Board as a whole and the Board committees and assessing
the contribution of each director to the effectiveness of the Board;
(j)
recommending the training and professional development programs for the Board; and
(k)
assessing independence of each director on an annual basis.
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PA R K WAY L I F E R E I T
CORPORATE
GOVERNANCE
