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i)
| Recommending a framework of remuneration for Directors, President/Group Managing Director and key Senior Executives (Vice President who is also a Head of Function and above). The remuneration policy should:
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| Be documented and approved by the full Board and any changes thereto should be subject to the endorsement of the full Board;
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| Reflect the experience and level of responsibility borne by individual Directors, the President/Group Managing Director and key Senior Executives (Vice President who is also a Head of Function and above);
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| Be sufficient to attract and retain Directors, President/Group Managing Director and key Senior Executives (Vice President who is also a Head of Function and above) of calibre needed to manage the Bank successfully; and
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| Be balanced against the need to ensure that the funds of the Bank are not used to subsidise excessive remuneration packages.
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| ii)
| Recommending specific remuneration packages for Directors, President / Group Managing Director and key Senior Executives (Vice President who is also a Head of Function and above). The remuneration packages should:
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| Be based on an objective consideration and approved by the full Board;
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| Take due consideration of the assessments of the Nominating Committee of the effectiveness and contribution of the Director, President/Group Managing Director or key Senior Executives (Vice President who is also a Head of Function and above) concerned;
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| Not be decided by the exercise of sole discretion of any one individual or restricted group of individuals; and
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| Be competitive and is consistent with the Bank's culture, objective and strategy.
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| iii) | Endorsing any changes deemed necessary to the schemes, terms of services and new terms for executives and staff of BPMB before submission to the Board of Directors for final approval. |
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