Implementation Rules for the Board of Directors' Remuneration and Assessment Committee
(May 2021 Revision)
Chapter 1 General Provisions
Article 1 To further establish and improve the assessment and remuneration management system for directors (non-independent directors) and senior management (hereinafter referred to as "managers") of KaiRuiDe Holdings Co., Ltd. (hereinafter referred to as the "Company"), and to improve corporate governance, in accordance with the "Company Law of the People's Republic of China," the "Securities Law of the People's Republic of China," the "Articles of Association of KaiRuiDe Holdings Co., Ltd." (hereinafter referred to as the "Articles of Association"), and other relevant regulations, the Company hereby formulates these Implementation Rules for the Board of Directors' Remuneration and Assessment Committee (hereinafter referred to as the "Remuneration and Assessment Committee").
Article 2 The Remuneration and Assessment Committee is a special working body established by the Board of Directors in accordance with the resolution of the general meeting of shareholders. It is primarily responsible for formulating assessment standards for the Company's directors and managers and conducting assessments; it is responsible for formulating and reviewing the remuneration policies and plans for the Company's directors and managers, and it is accountable to the Board of Directors.
Article 3 For the purposes of these Rules, "directors" refers to directors who receive remuneration from the Company, and "managers" refers to the general manager, deputy general managers, secretary of the board of directors, and other senior management personnel appointed by the Board of Directors upon the recommendation of the general manager.
Chapter 2 Composition
Article 4 The Remuneration and Assessment Committee shall be composed of three directors, of whom two shall be independent directors.
Article 5 The members of the Remuneration and Assessment Committee shall be nominated by the Chairman, more than half of the independent directors, or one-third of all directors, and shall be elected by the Board of Directors.
Article 6 The Remuneration and Assessment Committee shall have one Chairman (Convener), who shall be an independent director member and shall be responsible for presiding over the committee's work.