Summary by Moomoo AI
CHINA LIFE INSURANCE CO., LTD. ANNOUNCES THE TERMS OF REFERENCE OF THE NOMINATING REMUNERATION COMMITTEE ESTABLISHED BY ITS BOARD OF DIRECTORS, WHICH IS RESPONSIBLE FOR FORMULATING SELECTION STANDARDS, PROCEDURES, ASSESSMENT STANDARDS, AND REMUNERATION POLICIES AND PROGRAMS FOR DIRECTORS AND SENIOR MANAGEMENT. The Committee is composed of 3 to 7 non-senior management directors, of which half are independent directors and chair. The Committee shall make recommendations to the Board on the nomination, discharge, remuneration, etc., of directors and senior management and shall review the effectiveness of the Board's member diversity policy. If the Board of Directors does not adopt the Committee's recommendation, the reasons for not being adopted shall be recorded and disclosed. In addition, the Committee will review the compensation arrangements for executive directors and senior managers for loss or termination of office, and the arrangements for dismissal or dismissal for misconduct by directors.