Common use of Remuneration and Reimbursement Clause in Contracts

Remuneration and Reimbursement. (A) Subject to Clause 5, the Executive shall receive during the continuance of the Appointment : (1) A salary at the rate of HK$2,400,000 per annum such salary to accrue on a day to day basis (including any sum receivable by the Executive as director’s fee from any company in the Group) and to be payable monthly in twelve equal installments in arrears on the last day of each calendar month provided that if the Appointment is terminated prior to the end of a calendar month, the Executive shall only be entitled to a proportionate part of such salary in respect of the period of service during the relevant month up to the date of termination. Such salary shall be adjusted on annual basis at a rate to be determined by the Board as its absolute discretion having regard to the operating results of the Group and the performance of the Executive. (2) An annual management bonus of a sum to be determined by the Board at its absolute discretion having regard to the operating results of the Group and the performance of the Executive during the relevant financial year or any proportionate part thereof in which service of the Executive pursuant to this Agreement is rendered. The management bonus shall be payable in arrears in respect of each relevant financial year within one month after the issue of the consolidated audited accounts of the Group for such financial year. The amount payable to the Executive shall be decided by majority decision of the members of the Board present in the meeting called for that purpose provided that the Executive shall abstain from voting and not be counted in the quorum in respect of the resolution regarding the amount so payable to himself. (B) The Executive shall continue to receive his salary during any period of absence on medical grounds up to a maximum of 12 weeks in any period of 12 months provided that the Executive shall if required supply the Company with medical certificates covering the period of absence. (C) The Executive shall be reimbursed all reasonable out-of-pocket expenses (including expenses of entertainment subsistence and travelling) incurred by him on the Group’s business which expenses shall be evidenced in such manner as the Board may require. (D) The Executive will be entitled to the benefits of any medical or provident fund scheme as maybe maintained by the Group from to time. (E) The Executive shall be entitled to 12 working days paid vacation each year.

Remuneration and Reimbursement. (A) Subject to Clause 5, the Executive shall receive during the continuance of the Appointment : (1) A salary at the rate of HK$2,400,000 HK$1,800,000 per annum such salary to accrue on a day to day basis (including any sum receivable by the Executive as director’s fee from any company in the Group) and to be payable monthly in twelve equal installments in arrears on the last day of each calendar month provided that if the Appointment is terminated prior to the end of a calendar month, the Executive shall only be entitled to a proportionate part of such salary in respect of the period of service during the relevant month up to the date of termination. Such salary shall be adjusted on annual basis at a rate to be determined by the Board as its absolute discretion having regard to the operating results of the Group and the performance of the Executive. (2) An annual management bonus of a sum to be determined by the Board at its absolute discretion having regard to the operating results of the Group and the performance of the Executive during the relevant financial year or any proportionate part thereof in which service of the Executive pursuant to this Agreement is rendered. The management bonus shall be payable in arrears in respect of each relevant financial year within one month after the issue of the consolidated audited accounts of the Group for such financial year. The amount payable to the Executive shall be decided by majority decision of the members of the Board present in the meeting called for that purpose provided that the Executive shall abstain from voting and not be counted in the quorum in respect of the resolution regarding the amount so payable to himself. (B) The Executive shall continue to receive his salary during any period of absence on medical grounds up to a maximum of 12 weeks in any period of 12 months provided that the Executive shall if required supply the Company with medical certificates covering the period of absence. (C) The Executive shall be reimbursed all reasonable out-of-pocket expenses (including expenses of entertainment subsistence and travelling) incurred by him on the Group’s business which expenses shall be evidenced in such manner as the Board may require. (D) The Executive will be entitled to the benefits of any medical or provident fund scheme as maybe maintained by the Group from to time. (E) The Executive shall be entitled to 12 working days paid vacation each year.

Remuneration and Reimbursement. (A) Subject to Clause 5, the Executive shall receive during the continuance of the Appointment Appointment: (1) A salary at the rate of HK$2,400,000 per annum such salary to accrue on a day to day basis (including any sum receivable by the Executive as director’s fee from any company in the Group) and to be payable monthly in twelve equal installments in arrears on the last day of each calendar month provided that if the Appointment is terminated prior to the end of a calendar month, the Executive shall only be entitled to a proportionate part of such salary in respect of the period of service during the relevant month up to the date of termination. Such salary shall be adjusted on annual basis at a rate to be determined by the Board as its absolute discretion having regard to the operating results of the Group and the performance of the Executive. (2) An annual management bonus of a sum to be determined by the Board at its absolute discretion having regard to the operating results of the Group and the performance of the Executive during the relevant financial year or any proportionate part thereof in which service of the Executive pursuant to this Agreement is rendered. The management bonus shall be payable in arrears in respect of each relevant financial year within one month after the issue of the consolidated audited accounts of the Group for such financial year. The amount payable to the Executive shall be decided by majority decision of the members of the Board present in the meeting called for that purpose provided that the Executive shall abstain from voting and not be counted in the quorum in respect of the resolution regarding the amount so payable to himself. (B) The Executive shall continue to receive his salary during any period of absence on medical grounds up to a maximum of 12 weeks in any period of 12 months provided that the Executive shall if required supply the Company with medical certificates covering the period of absence. (C) The Executive shall be reimbursed all reasonable out-of-pocket expenses (including expenses of entertainment subsistence and travelling) incurred by him on the Group’s business which expenses shall be evidenced in such manner as the Board may require. (D) The Executive will be entitled to the benefits of any medical or provident fund scheme as maybe maintained by the Group from to time. (E) The Executive shall be entitled to 12 working days paid vacation each year.