Primary Function

The primary function of this Board Committee is to assist the Board in determining the remuneration and employment conditions of TransGrid's executive and senior management and reviewing the organisational structure of the Corporation.

Responsibilities

In meeting its obligations, the Board Committee - Remuneration and Structure will:

• advise the Board on remuneration strategies and policies for TransGrid's executive and senior management;
• advise the Board on organisational structure and succession arrangements for TransGrid's executive management;
• determine employment contract arrangements for the Managing Director;
• advise the Board on the renewal or extension of the employment contract for the Managing Director;
• determine remuneration levels for the Managing Director and General Managers;
• review the effectiveness of TransGrid's remuneration strategies and program for senior officers under contract employment and advise the Board on guidelines for their annual remuneration review;
• oversee compliance with legislative requirements for the disclosure of executive remuneration and assessments of executive performance in TransGrid's Annual Report;
• prepare a report to the Board summarising the work performed by the Board Committee at their previous meeting; and
• review the Charter of the Board Committee - Remuneration and Structure on an annual basis.