Annual Report 2020

CorporateGovernanceOverviewStatement 6. Remuneration The following table shows the remuneration details of the Directors of AAGB and AAB during the Financial Year: Director Fees Other Fees Salaries Bonuses Total Meeting, travelling and other allowances~ Datuk Kamarudin bin Meranun - - 4,854,500.00 0 4,854,500.00 - Tan Sri Anthony Francis Fernandes - - 4,854,500.00 0 4,854,500.00 78,312,21 Dato’ Abdel Aziz @ Abdul Aziz bin Abu Bakar 175,000.00^ 40,000.00* 23,333.36** 36,666.64*** - 0 275,000.00 52,000.00 Dato’ Fam Lee Ee 175,000.00^ 40,000.00* 36,666.64** 23,333.36*** - 0 275,000.00 52,000.00 Dato’ Mohamed Khadar binMerican 175,000.00^ 50,000.00* 23,333.33*** 23,333.33*^ - 0 271,666.66 54,000.00 Stuart L Dean 175,000.00^ 26,664.00^^ 23,333.39** 23,333.39*** 36,666.61*^ - 0 284,997.39 44,000.00 Noor Neelofa binti Mohd Noor (resigned w.e.f. 17/08/2020) 125,957.66^ 16,794.38*^ - 0 142,752.04 12,000.00 ^ From 28 September 2020 to 31 December 2020 pro-rated based on the basic Board fee of RM262,500 each per annum approved at the Third AGM. # ^^ Basic board fee as a Director of AAB. # * AC fee as approved at the Third Annual General Meeting. # ** NRC fee as approved at the Third Annual General Meeting. # *** RMC fee as approved at the Third Annual General Meeting. # *^ SRB fee as approved at the Third Annual General Meeting. # ~ The meeting allowance shall be RM2,000 per meeting. # # The Notice of AGM 2020 informed that the Non-Executive Directors of AAGB had voluntarily offered to receive a 50% reduction in their fees for the period from 1 May 2020 up to the date of the AGM in 2020 and would continue with such reduction, on the remuneration structure, which was approved at the Third AGM until such time that AAGB’s financial performance improves significantly, or up to the next AGM of AAGB, whichever comes earlier. This reduction has been applied to the Board and committee fees as well as meeting allowance. 7. Limits of Authority AAGB has a Limits of Authority (“ LOA ”) policy in place, which defines the decision-making limits of each level of management within the Group. The LOA manual clearly outlines matters over which the Board reserves authority and those delegated to the senior management. These limits cover, amongst others, authority over payments, investments, capital and revenue expenditure limits, budget approvals and contract commitments, as well as authority over non-financial matters. The LOA manual provides a framework of authority and accountability within AAGB and facilitates decision-making at the appropriate level in the organisation’s hierarchy. 144 AIRASIA GROUP BERHAD