When a company whose stock is listed on the stock exchange or traded over the counter establishes a remuneration committee under the Act, it shall adopt a remuneration committee charter that shall at least include the following:
The charter under the preceding paragraph, and any amendment thereto, shall be adopted by resolution of the board of directors.
- The composition of the remuneration committee members and their number and term of office.
- Official powers of the remuneration committee.
- Rules of procedure for meetings of the remuneration committee.
- Resources to be provided by the company when the remuneration committee exercises its official powers.