Compensation Management System for Directors and Senior Management

✨ AI Summary

The purpose of this system is to enhance the compensation management framework for directors and senior management at Guangdong Meilian New Materials Co., Ltd. Key decisions include the establishment of compensation structures based on performance and responsibilities, with oversight by the Board and its Compensation and Assessment Committee. The system aims to align incentives with company performance and ensure compliance with legal regulations, promoting sustainable development.

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Full Translation

AI Translation· azure_openai

Chapter 1 General Principles

Article 1

To further improve the compensation management system for directors and senior management of Guangdong Meilian New Materials Co., Ltd. (hereinafter referred to as "the Company"), and to establish an incentive and restraint mechanism that aligns with modern corporate systems and matches responsibilities, rights, and interests, this system is formulated based on the "Company Law of the People's Republic of China," "Securities Law of the People's Republic of China," "Code of Corporate Governance for Listed Companies," and other relevant laws, administrative regulations, normative documents, and the Company's Articles of Association, combined with the actual situation of the Company.

Article 2

The personnel applicable to this system include:

Internal directors, referring to directors elected through the shareholders' meeting or other democratic means, who have signed labor contracts or employment contracts with the Company.
External directors, referring to non-independent directors elected through the shareholders' meeting, who do not sign labor contracts with the Company and do not hold any position other than director.
Independent directors.
The president, vice presidents, board secretary, financial director, and other personnel appointed as senior management by the board of directors.

Article 3

The assessment and management of compensation shall follow these principles:

Principle of equivalence of responsibilities, rights, and interests, which rationally differentiates compensation levels based on job responsibilities and performance, reflecting enhanced incentive and restraint mechanisms.
Principle of balancing incentives and restraints, linking compensation distribution with assessment, rewards, penalties, and incentive mechanisms.
Principle of linking compensation levels with company size, efficiency, and operational goals, promoting the long-term stable development of the Company.
Strict compliance with national laws and regulations and relevant policies regarding compensation systems.

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