pdf - 1.26 MB - Ahli United Bank

ahliunited.com

pdf - 1.26 MB - Ahli United Bank

CORPORATE GOVERNANCE

COMPENSATION COMMITTEE

The Board of Directors has established a Compensation Committee comprised of 3 non-executive Directors. One of the Directors

on the Committee is an independent Director.

The Committee is guided by the Group Human Resources Policy on Compensation approved by the Board as follows:

The objectives of the compensation policy are:

• To provide employees with financial motivation to deliver optimum Group performance;

• To reward performance by individual contribution within a team oriented approach;

• To remunerate individuals who achieve personal, divisional and Group results; and

• To provide a long tem incentive to performing staff.

Group-wide compensation arrangements are determined by the Group Compensation Committee. Group banks may have

Compensation Committees as required by regulatory or other considerations. In such a case, consistency must be achieved

and monitored in terms of compensation across Group entities.

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Compensation is benchmarked against comparable and relevant compensation in each operating entity, as determined by

industry measurable statistics.

ANNUAL REPORT 2008

Compensation will be set at a level which will attract appropriate talent to the AUB Group.

Compensation will include base remuneration, performance related incentives and long term incentive arrangements, each as

defined and approved by the Compensation Committee.

RESPONSIBILITIES

The Committee reviews and makes recommendations to the Board in relation to the quantum and structure of awards under the

AUB Employee Share Purchase Plan.

The Committee reviews and approves recommendations in relation to:

(a) the quantum and structure of remuneration for Directors, including base fees, committee fees and expense reimbursements;

(b) the quantum and structure of remuneration (including the appropriate proportion of base remuneration, short-term and

long-term ‘at risk’ remuneration, bonus and incentive payments and any equity-based component) for

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