Page 25 - Demo

4.7 Directors’ Retirement Director shall retire at 72 years of age with effect from the day following the 4.8 Nomination of Directors The Corporate Governance and Nomination Committee shall recommend to the Board of Directors candidates to replace retiring directors or to fill any other vacancy. The Corporate Governance and Nomination Committee 4.9 Directors’ Remunerations The Board of Directors shall designate a Compensation Committee to recommend guidelines for setting directors’ remuneration. The level of remuneration shall be comparable to those of companies in the same industry taking into consideration the Annual General Meeting held after the director in question has attained that age. shall review the structure and composition of the Board of Directors, set nomination criteria and search for candidates with qualifications appropriate for the company’s situation and needs. duties and responsibilities of the directors concerned. Directors’ remuneration will be subject to approval at shareholder meetings. 25