Fullmoonfever
Top 20
Thanks Xray.See ...... Non-Executive Director Remuneration Policy
11. ANNUAL REVIEW & REPORTING
11.1 The Committee will review annually the compensation of the Chairman of the Board and other NEDs to determine whether:
11.1.1 an increase in fees should be considered; and/or
11.1.2 a market benchmarking review should be undertaken.
11.2 The Company will transparently report on its remuneration policy and approach in respect to all NEDs in the remuneration report issued as part of the Company’s Annual Report in compliance with the Corporations Act and the ASX Listing Rules.
This Policy was adopted by the Board effective 22 February 2023 and amended 22 September 2023, 07 December 2023 and 19 March 2024.
See where you're coming from however I would suggest that is just an internal policy and process on the annual remuneration review and that an independent benchmark can be utilised where seen fit.
Imo that doesn't override the remuneration resolution that SHs vote on that can potentially create a strike if voted down as per the actual "Listing Rules", otherwise all companies could possibly look to water down or negate actual Listing Rules that they maybe don't agree with by including workarounds within their own policies.