BEACON PHARMACEUTICALS PLC
TERMS OF REFERENCE
of
Nomination and Remuneration Committee (NRC)
(Approved by the Board Meeting held on 31 January 2023)
1. Purpose of the NIIC
The Nominatiorr ancl ltcrruncration comnrittee (NRC) shall assist the Board in
formulation ol'the nominntion criteria or polic5, tbr determining qualitications, positive
attributes' expcrienccs and inclcpendence ol'directors and top-level executive as well
as a policy lbr lbrmal process ol'considering remuneration of Directors and Senior
Management o1' thc (iompan r'.
2. Constitution ol the NRC
The nomination and remuneration committee (the "committee") is established as a
sub-committee of the Board of Directors (the "Board") of Beacon pharmaceuticals PLC.
These terms of reference have been drawn up by the Board of Directors of Beacon
Pharmaceuticals PLC pursuant to code-6 of the corporate Govemance code dated June
3,201,8 of the Bangladesh securities and Exchange commission (BSEC).
(1) Composition ol'thc NllC
(a) The commitlcc shall comprise ol' at least three metnbers including an
Independcnt I)irector:
(b) All mcrnbcrs ol tiri: cornrnittcc shali bc Non-Executive I)ircctors;
(c) Members of ihc courr.r-rittce shall be nonrinated and appointed by the Board;
(d) The lJoard sir:iii inve authority to rerrove and appoint any member of the
Comrnittcc:
(e) In casc o{' dcath" i'csignation. disqualification, or removal of any member of
the Committco or in any other oases ol vacancies, the board shall fill the
vacancy witirin 180 (one hundred eighty) days of occurring such vacancy in
the Committce :
N6-ttar1 k*J*
(f) The chairperson the committee may appoint or co-opt any external
o1-
experl and/or mcrnbcr(s) of slaff to the committee as advisor who shall be
non-voling tr,-:ttrbcr" il'thc chairperson feels that advice or suggestion from
such cxtcrnal u.rperr and/or rnernber(s) of staff shall be required or valuable
lbr thc ctltttttt ittce.
(g) The quorLlm oi'rlic NI{Cl rr-reeting shalI not constitute without attendance of
at l-east an Indcpenclcnt Direclor:
(h) No r1cnbr.r. oi' ilie NILC shall reccivc. cither directly' or indirectly, any
remunet':lli6tt 1i;t' ittt\ ltdvisory or consultancy role or othcrwise, other than
Director"s i'ccs or honorarium from the company'
(2) Chairperson of thc Nli.C
(a) The Board shall. sclect 1 (one) member of the NRC to be chairperson of the
Committcc, rvho shall bc an Indcpendent Director;
(b) ln the abscncc ol' thc Chairperson o{- the NItC, the remaining members may
elect onc ol'lhcmsclves as chairperson for the particular meeting, the
reason oi- abscnce oi' thc regular chairperson shall be duly recorded in the
minutcs,
(c) 'l'he Chairpclsuu ol'thc NItC shall attend the annual general meeting (AGM)
to anst,t'cr lhe '-itrcrics ol'1hc sharcholders:
providccl thal i1 ;ibscncc o{- chairperson o{- the NRC, any othcr member lrom
the NI{C siraii bc sclccrcci to be prescnt in the annual general meeting (ACM)
for answering thc shareholder's queries and reason fbr absence of the
chairperson o1- thc r.r-l{C shall be recorded in the minutes of the AGM.
(3) Meeting of the Nl{{)
(a) The NI{C shall e()rrcluct at last one meeting in a financial ycar;
(b) 'fhe Chailpcrson ol' thc NIiC ma1' convene any emcrgcncy meeting upon
request b1' anv tuctrtber ol'the NI{C;
(c) The qllorlrn.] rr1 thc mccling ol- the NI{C shall bc constituted in presence of
eithcr t\\,o lt-!,Jllllrrtrs or tr.vo third o1'the mcmbers of the committee,
whichever i-- lrigircr, rihcrc prescnce of an Indepcndcnl l)irector is must as
requirccl utrder e otrciition No. 6(2)(h):
(d) The proccccliri!.:, ril cacl.r moctirrg of thc NI{C shall duly bc recordcd in the
minutcs anrj such ntinules shall bc confirmed in the ncxt meeting of the
NRC.
2
\La*** N&-l^^"{ [<^"J*-
3. RoIe of the NRC
(a)NRCshallbcirrdcpctrdcntandrcsponsibleoraccountablctotheBoardand
to the sharcholclcrs:
(b)NRCshallovcrscc.amongothers.thefollor,vingmattersandmakereport
with recommendation 1o the Board:
qualifications' positive
(i) formulating thc criteria for determining
attribrrtesanclindependenceofadirectorandrecommendapolicyto
thc[]oarcl.rclatinglothercmunerationofthedirectors'toplevel
excct"ttivc. consiclcring the following:
a.thclcl,elatlclcorrrposilionofrernuncrationisreasonableand
sulficictlttoattract,rctainandmotivatesuitabledirectorstorun
tl-tc cotllPlitl)' succe sslullY;
rctttuneration to pcrformance is clear
and meets
b. thc t'clatitltlship ol
and
approl;riatc pcrlbrmancc benchmarks;
c.relllUl.lclatl0nt0direotors'toplevelexecutiveinvolvesabalance
short and long-term
bcrwccrr rrrccl and incentive pay rcflectirrg
objcctives appropriate to the working
of the company
perlbruancc
and its goals.
taking into consideration age'
(ii) devising a policy on Board's-diversity
background and nationality;
gender. .rp"ri.'-'tc, ethnicity' educational
become directors and who
(iii) identifi'irrg pcrsons who are qualified to position in accordance with
ma1 bc appoirrtcci in top lcvel executivc
their appointmcnt and removal
the crilcria [aici clorvn, ancl recomtnend
to thc Iloardr
of independent
(iv) Ibrmuiatirrg thc critcria lor cvaluation ol pcrlormancc
dit'cclors rrrttl ihc lloard:
difl'ercnt levels and
(v) iclcntiliing iltc company's ncccls (or cmployces at
replacemcnt and promotion
dctcrurinc rhcir ,.l."tio,-,, transfer or
criteria: atlcl
the oompany's
(vi) developing. recommending and reviewing annually
hutnan rcsoLlrces and training policies;
(c)Thecompanyshalldisclosethenominationandremunerationpolicyand
theevaluationcriteriaandactivitiesofNRCduringtheyearataglancein
its annual rcPort
I'l+"" ko'd*
N[u"t^rr-
3
I
4. Duration ol'aplroirttrncnts of the Members of the NRC
Unless othcrrvisc dcrcrrrrinccl b-r- thc Board, the duration of appointments o{'Non-
Executive mcmbcrs ol'ilic ('ommi11ce shall bc fbr a period of up to three years which
may be extendcd b1'thr: lluarci 1br an adclitional tenure (thrce years).
5. Secretary rrl'thc t\ l<t'
The Companl Secrctrt;', ',iiali acl as the Secretary ol'the Committec
6. Conduct ol'llusintss of thc Meetings of thc NRC
The Committee shall concluct its business as it thinks fit. Decisions of the Committee
shall be by majority dccision. [n the case of an equality of votes. the Chairman of the
Committee shalI have a second or casting vote. Save as otherwise required by these
terms of reference or agrced hy thc Committee, all provisions rclating to the conduct of
business of the lloard in the arliclcs of association Iiom time to time of the Company
shall equally appl\ t() llrc conclLrct of busincss of the Committee .
7. Attendance ol' Ntrci:lings of the NltC
Only membcls ol' Llrc il,,nrr"nitrec shall have the right to attend mcetings of the
Committec.Othcr iniiiri,,iirals sue:h as thc Managing Director or CIiO. the Flead of
Human Resourccs arii.i r.\i.cnlal aclviscrs may'bc invitcd to attcnd lbr all or part of any
meeting. as and rr l',e lt .:,r;'1'' rpr'iatc.
8. Reporting ol' the i\ lt(l
(a) The Committcc (-'hainlan shall report fbrmally to thc Board on the Committee's
proceedings allcr cach meeting,
(b) The Committee shall. oncc a year, consider its own performance, membership and
terms of rcl-crutcc l() cllsurc it is operating at maximum effectiveness and shall
recommend arl)' ncucs\i-lrr chatrgcs to 1hc Board for its approval;
(c) The Couintittcc :iriiil nlalic an,v recommcndations to 1he []oard it deerns
appropriatc {)n irr;\ i-iluirs rvithin its tenrs ol rcferencc where action or
improlctttellt i: rii,rJ(;.
(d) The Chairmarr ol'iiis t'ornmittcc shall work and liaisc as ncocssary with other
commiltecs ()1 ihe []url|rl.
[[tur*tn- N
c,f^-^-r k;
4
I
9. Meetings antl h'linulcs ol'thc Committee
Meetings ol'thc NRC Committcc and record the minutes of the rneetings as well as keep
required books ancj rccorrls in line with the provisions of the relevant Bangladesh
Secretarial Srandarcls (llSS) issued by the Institute of Chartered Secretaries of
Bangladesh (lClSB)"
10" Annual (icncr:tl 1'!et'ting
The Chairman ol'rhr. ('orrrrnittcc shall attencl the Company's Annual (ieneral Meeting to
answer shareholcle rs' eltrcstions about thc Committcc's activitics.
11. Terms of ltel'crtrrtt
-l'erms
The Commitlc:c shail lirrir to tirrc revierv its of ILcf'erence in line with the
regulatory reqLllt'eltlttit ;ttiii tnar rccornrnend to thc l]oard an1' amcndments to its
Terms of Reference
tt
,
UI
1 lant,*' \-/
Nurun Nahar l(arinr Mejor A
Chairman Chairman
Beacon Pharrnacculie ais I)l.C NIIC Comrrittce
