This statement sets out the principles and guidelines for the remuneration of the principal officers of Orapuh, Inc., including the President and the Director of Administration and Finance. It aims to ensure that compensation is fair, competitive, and aligned with the organisation’s goals and values.
2. Principles
2.1 Equity and Fairness
Remuneration for principal officers will be determined based on principles of equity and fairness. Pay levels will reflect the responsibilities, skills, and experience required for each role, and will be benchmarked against similar positions in comparable organisations within the sector.
2.2 Performance-Based Pay
A portion of the remuneration for principal officers may be performance-based, aligning individual goals with the organisation’s strategic objectives. Performance metrics will be clearly defined and communicated, and linked to measurable outcomes and achievements.
2.3 Transparency
The remuneration process will be transparent. Decisions regarding pay will be made by the Orapuh OAB and may involve external advisors to ensure impartiality.
2.4 Market Competitiveness
Pay levels will be competitive with market rates to attract and retain qualified individuals. Regular reviews of compensation data from similar organisations will inform adjustments to ensure alignment with market trends.
2.5 Accountability
The remuneration of principal officers will be subject to regular reviews by the board to ensure alignment with the organisation’s performance and financial position. Any changes to remuneration will be documented and justified.
2.6 Compliance
All remuneration practices will comply with applicable laws and regulations, ensuring adherence to legal standards and ethical norms.
3. Components of Remuneration
3.1 Base Salary
The base salary for each principal officer will be determined based on the role’s requirements, individual qualifications, and market comparisons. Salaries will be reviewed annually and adjusted as necessary based on performance and changes in market conditions.
3.2 Performance-Related Bonuses
Performance-related bonuses may be awarded based on the achievement of predefined performance targets. These targets will be set annually and will reflect both individual performance and organisational goals.
3.3 Benefits
Principal officers are entitled to standard benefits including but not limited to health insurance, pension contributions, and other perks in accordance with the organisation’s benefits policy. Specific benefits may vary based on individual circumstances and contractual agreements.
3.4 Other Remuneration
Additional forms of remuneration, such as allowances or stock options, may be provided where applicable. These will be disclosed and documented to ensure transparency.
4. Review and Adjustments
Remuneration levels and policies will be reviewed annually by board. Adjustments will be made as needed to ensure ongoing competitiveness and alignment with organisational goals.
5. Disclosure
Details of the remuneration of principal officers will be disclosed in the organisation’s annual report in a manner consistent with best practices in governance and transparency.
6. Contact Information
For any questions regarding this remuneration statement, please contact the Finance Unit at [email protected].
This statement provides a clear framework for determining and managing the remuneration of principal officers at Orapuh, Inc., ensuring alignment with organisational goals and market standards.