Chapter 1 General Principles
Article 1
To further improve the compensation management for directors and senior management of Shenzhen Sunlord Electronics Co., Ltd. (hereinafter referred to as "the Company"), establish a scientific and reasonable incentive and restraint mechanism, fully motivate the enthusiasm and creativity of the Company's directors and senior management, strengthen internal risk control, improve economic efficiency and management level, promote the healthy, sustainable, and stable development of the Company, and ensure the realization of the Company's strategic development goals, the Company's board of directors has formulated this system based on relevant laws, regulations, and regulatory requirements, combined with the actual situation of the Company.
Article 2
The directors and senior management personnel applicable to this system include: the Company's directors, general manager (president), deputy general managers (vice presidents), chief engineer, financial director, and board secretary.
Article 3
The determination of compensation for the Company's directors and senior management shall follow the following principles:
- The compensation level matches the Company's scale and performance while considering market compensation levels;
- The compensation level matches the value of the position and responsibilities;
- It aligns with the Company's long-term interests and goals for sustainable and healthy development;
- The payment of compensation is linked to assessment, rewards and penalties, and incentive mechanisms.
Chapter 2 Management Institutions
Article 4
The compensation plan for the Company's directors shall be determined by the shareholders' meeting, while the compensation plan for senior management personnel shall be approved by the board of directors.
Article 5
The board of directors' compensation and assessment committee is responsible for formulating and reviewing the compensation policies and plans for directors and senior management, establishing assessment standards, conducting assessments, and supervising the implementation of the Company's compensation system.
Article 6
The work content, responsibilities, and authority of the board of directors' compensation and assessment committee shall be based on the "Rules of Procedure for the Board of Directors' Compensation and Assessment Committee."
Article 7
The Company's human resources department, financial department, and other relevant departments shall cooperate with the board of directors' compensation and assessment committee in the specific implementation of the compensation and assessment plans for the Company's directors.