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To comply with good corporate governance and transparency, PTTEP discloses the Management’s compensation, including their PTTEP shares, in the annual report. PTTEP communicates the framework for remuneration and compensation and actual remuneration / compensation on individual level of the members of the Board including the retired/ redesigned Directors in the in PTTEP 2013 Annual Report page 71-73. The Remuneration Committee, who is responsible for the policy, reviews the remuneration with prudence by taking into account remuneration of listed and comparable companies in the industry, the Company’s performance, the directors’ duties and responsibilities, the overall economic situation and shareholders’ opinions. The 2013 Annual General Shareholders’ Meeting (AGM) approved the remunerations for directors of the Board and sub-committees. Remunerations/compensation of the Board of Directors is communicated individually while the additional highest paid executives’ remuneration/compensation is communicated as a whole.PTTEP discloses the combined compensation of the CEO and the top 9 executives of the company in the Annual Report, as required by SEC regulation which accounts to a total amount 55,799,256 (Baht)According to Thai law, it is not mandatory to disclose CEO and highest paid senior executives’ salary on an individual level. Disclosing individual salaries is perceived as a risk to the company. Depending on emerging trends in common business practice, new regulatory laws and/or stakeholder enquiries, PTTEP will evaluate the disclosure of the data publically. However, at present there is indication to disclose this type of information publically.
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