Baker Technology LimitedAnnual Report 2014
59
TheExecutiveDirectors donot receiveDirectors’ fees. Non-ExecutiveDirectors, including IndependentDirectors, (save
forMr TanYangGuan, who is remuneratedbywayof consultancy fees for providingfinancial adviceandoverview to the
Group) arepaidDirectors’ feeswhich take into consideration the contribution, timeandeffort spent and responsibilities
of theDirectors. TheDirectors’ feescompriseabasic feeandadditional fees for appointmentonBoardCommittees. The
Non-ExecutiveDirectorsarenotover compensated to theextent that their independencemaybecompromised.
The Company does not have any contractual provisions to allow the Company to reclaim incentive components
of remuneration from Executive Directors and key management personnel in exceptional circumstances of
misstatement of financial results, or ofmisconduct resulting in financial loss to theCompany.
Currently, theCompanydoes not have any long-term incentive schemes.
Following a reviewundertaken in thepreceding financial year (i.e. ended 31December 2013), theCompany’sBoard
fee frameworkduring the year is set out below.
Basic Fee
for BoardMembers
$38,500per annum
Additional fees
:
- Allowance for BoardChairman
75.0%of Basic Fee
- Allowance for Lead IndependentDirector
20.0%of Basic Fee
- Audit CommitteeChairman
50.0%of Basic Fee
- Audit CommitteeMembers
25.0%of Basic Fee
- Remuneration /NominatingCommitteeChairman 25.0%of Basic Fee
- Remuneration /NominatingCommitteeMembers
12.5%of Basic Fee
Shareholders’ approval will be sought at theAGM of theCompany on 23 April 2015, for the payment of Directors’
fees proposed for the financial year ending 2015 amounting to $262,763 (FY2014: $275,596).
Principle9: DisclosureonRemuneration
Disclosureof Remuneration
TheDirectors’ remuneration for FY2014 is set out below:
Directors
Fees
($)
Salary, CPF
&Allowance
($)
Bonus
($)
Other
Benefits*
($)
Total
($)
LimHoSeng
72,187
-
-
-
72,187
Dr BenetyChang
-
475,325
455,000
-
933,325
JeanetteChang
(1)
-
280,000
80,000
-
360,000
TanYangGuan
-
-
-
140,925
140,925
WongMengYeng
65,450
-
-
-
65,450
WongKwanSengRobert
(2)
12,833
-
-
-
12,833
AngMiahKhiang
62,563
-
-
-
62,563
HanSahHeokVicky
62,563
-
-
-
62,563
Notes:
(1)
Ms JeanetteChang is thedaughter of Dr BenetyChang, Chief ExecutiveOfficer.
(2)
MrWongKwanSengRobert retired asNon-ExecutiveDirector on25April 2014.
* this relates to consultancy fees paidby theCompany.
