FGV Annual Report 2016

FELDA GLOBAL VENTURES HOLDINGS BERHAD 100 HOW WE ARE GOVERNED DIRECTORS' REMUNERATION The level of Directors' remuneration is generally set to be competitive to attract and retain Directors of such calibre to provide the necessary skills and experience as required and commensurate with the responsibilities and duties of the Board and Board Committees. FGV has in place a Board Remunerations Policy which was last revised on 25 August 2016. The Non-Executive Directors' remuneration package reflects the experience, expertise and level of responsibilities undertaken by the Non-Executive Directors. The Non-Executive Directors' remuneration include fees, benefits-in-kind and other benefits including meeting allowances. Details of the Non-Executive Directors' annual fees and meeting allowances for the Board and the Board Committees are listed below: Board/Board Committees Annual Fees Meeting Allowances Board - RM560,000 (Chairman) - RM120,000 (Non-Executive Directors) Local RM2,000.00 Audit Committee - RM64,000 (Chairman) - RM32,000 (Non-Executive Directors) Overseas (Flight time <= 8 hours) RM2,000.00 Investment Committee and Board Governance & Risk Management Committee - RM32,000 (Chairman) - RM16,000 (Non-Executive Directors) Overseas (Flight time > 8 hours) RM5,000.00 Nomination and Remuneration Committee - RM35,000 (Chairman) - RM20,000 (Non-Executive Directors) Teleconferencing RM1,000.00 In addition to the remuneration received from FGV, Non-Executive Directors also receive annual fees, benefits-in-kind and other benefits including meeting allowances, from their directorships in FGV subsidiary companies. The Executive Directors receive remuneration packages which are reviewed and recommended by the Nomination and Remuneration Committee and approved by the Board. The remuneration package takes into account the individual performance and the inflation price index, which are benchmarked against information from independent sources for similar positions in other comparable companies. The Group operates a Performance Remuneration Plan (PRP) which consists of performance bonus and Long Term Incentive Plan for all employees, including Executive Directors. Performance bonuses and Long Term Incentive Plan payable to Executive Directors are reviewed by the Nomination and Remuneration Committee and approved by the Board. The Executive Directors are not entitled to annual fees nor any meeting allowances for the Board and Board Committee meetings. However, the Executive Directors are entitled to receive annual fees up to three (3) months of their basic salaries, meeting allowances, benefits-in-kind and other benefits from their directorships at FGV subsidiary companies. CORPORATE GOVERNANCE STATEMENT