AIM terms of reference for remuneration committee
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useContract party
Relevant sectors
Type of legal document
💵 Committee terms of referenceBusiness activity
List on a stock exchangeA committee's terms of reference sets out the purpose, scope, and authority of the committee. It covers the law that the committee is responsible for and the procedures that the committee will follow.
The Aim of the remuneration committee is to establish a clear and transparent framework for determining the remuneration packages of executive directors and key employees within a company listed on the AIM, ensuring they are in line with industry standards and company performance.
The terms of reference cover various aspects related to the functioning of the remuneration committee, including its purpose, composition, authority, and responsibilities. It provides guidelines on how the committee should operate, including the frequency of meetings and quorum requirements.
The template will thoroughly outline the committee's role in assessing, recommending, and approving remuneration policies, performance-related pay, and any long-term incentive plans or share option schemes. It may also include provisions on handling conflicts of interest, engaging independent advisors, and ensuring shareholder engagement and transparency.
Furthermore, the template may incorporate legal requirements, corporate governance principles, and relevant guidelines set out by regulatory bodies and codes of conduct like the UK Corporate Governance Code.
By utilizing this template, companies can ensure that their remuneration committees operate effectively within the parameters of UK law, fulfilling their responsibilities in a fair, transparent, and accountable manner while providing executives and key employees with competitive and appropriate remuneration packages.
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