HC-5.4 HC-5.4 Senior Management Remuneration
HC-5.4.1
Remuneration ofsenior management must be structured so that a portion of the total is linked tolicensee and individual performance and aligns their interests with the interests of the shareholders.October 2019HC-5.4.2
Such rewards may include grants of shares, share options and other deferred stock-related incentive schemes, bonuses, and pension benefits which are not based on salary.
October 2019HC-5.4.3
If a
senior manager is also a director, hisremuneration as asenior manager must take into account compensation received in his capacity as a director.October 2019HC-5.4.4
All share incentive plans must be approved by the shareholders.
October 2019HC-5.4.5
All performance-based incentives should be awarded under written objective performance standards which have been approved by the Board and are designed to enhance shareholder and company value, and under which shares should not vest and options should not be exercisable within less than two years of the date of award of the incentive.
October 2019HC-5.4.6
All policies for performance-based incentives should be approved by the shareholders, but the approval should be only of the plan itself and not of the grant to specific individuals of benefits under the plan.
October 2019
