Human Resource Committee

The Committee comprises three or more members of the Board as determined by the Board and is chaired by an External Director. The Committee’s main responsibilities are (a) to discharge the Board’s responsibilities relating to the Human Resources Strategies and practices of CCFG and the compensation of, and benefits available to, the Company’s employees; (b) assist in determining fair compensation for CCFG’s executives based upon their performance and contribution to CCFG, and (c) to produce a yearly report on Executive Compensation for inclusion in the Annual Report, in accordance with applicable rules and regulations.

Other functions of the Committee are to:

• Review the Human Resource Policies and the organization of the CCFG including Employment, Compensation, Training and Development;
• Review and approve corporate goals and objectives relevant to the compensation of the Group’s President and Chief Executive Officer (the “CEO”), evaluate the performance of the CEO in light of those goals and objectives, report the results of such evaluation to the Board and set the CEO’s compensation level based on this evaluation;
• Approve the engagement and termination, and the promotion and compensation of the members of the Executive and the appointment of all officers of the Group except for the CEO and the Chief Operating Officer for which the Committee shall make recommendations to the Board of Directors for its approval;
• Review, once a year or as needed, the Human Resource and Succession Planning for the President, CEO and the Deputy Group President, the members of the Executive and their direct reports, and to report annually on the succession planning for the President and Chief Executive Officer and the Deputy Group Presidents;
• Review and reassess annually the adequacy of the Human Resource charter and recommend to the Board for approval such changes as the Committee believes are appropriate.

The Committee meets on a quarterly basis.