Sitting Fees. The Non- Executive / Independent Director may receive remuneration by way offees for attending meetings of Board or Committee thereof. Provided that the amount of such fees shall be decided by the Board and subject tothe limit as provided in the Act.
Sitting Fees. ESTEL may pay such sitting fees to Xxxxxtors, not exceeding the maximum permissible under the Companies Act, as may be determined by the Board. In addition to or in substitution of the sitting fee Directors may be paid commission not exceeding the maximum permissible under the Companies Act. A Director shall in addition be entitled to receive such remuneration for services performed for ESTEL not exceeding the maximum permissible under the Companies Act.
Sitting Fees. The Non-executive Independent Directors of the Company shall be paid sitting fees as per the applicable Regulations and no sitting fee is paid to Non-executive Non Independent Directors. The quantum of sitting fees will be determined as per the recommendation of Nomination and Remuneration Committee and approved by the Board of Directors of the Company. Further the boarding and lodging expenses shall be reimbursed to the Directors based out of Mumbai.
Sitting Fees. The payment of sitting fees shall be governed by the policy of the Company in this regard as may be in force from time to time.
Sitting Fees. Traditional Owners are regularly called upon to provide input into the negotiation and then the implementation of Indigenous agreements. ‘Sitting fees’ are often paid to Indigenous representatives on negotiation teams, and after an agreement is finalised, to members of coordination committees established to implement the agreement. Sitting fees are remuneration for time, cultural expertise and contribution to the process. They can, however, be a contentious and complex element of negotiating and implementing agreements both in terms of what is covered as well as the amount to be paid. Practice varies considerably across States, companies and Indigenous organisations. What is usually covered: Actual attendance at meetings for time and expertise Some organisations pay on ‘good faith’, while others require proof of attendance at a meeting or at a proportion of meetings (e.g. over 60 % of meetings per year) (NSWALC 2011) Public servants are typically not eligible for sitting fees (Hansard WA 2010). Determining an amount for sitting fees: This is determined by the particular company or Aboriginal Corporation and can be based on the financial position of the company or corporation and the qualifications and experience of the attendees. Based on available literature, there does not appear to be any consistent method of determining sitting fees across the extractive industries Some State Government departments do not provide sitting fees, whereas other States follow public service standards (WAAAC 2010) Some Indigenous Councils and Boards have a standard regime to determine sitting fees and attempt to alleviate issues surrounding payment of fees, for example meeting costs such as meals, accommodation and refreshments will be paid directly to the service provider by some agencies where practicable (AALC 2011) NSW Aboriginal Land Council (NSWALC) pays up to $1000 per year for a Chairperson of a LALC and up to $750 per year for other Board members (NSWALC 2010). Issues: Transparency: Some TOs sit across many meetings which have different rates for sitting fees. Some attendees consider lower fees patronising if they receive higher fees from another company Some meetings do not offer sitting fees, which can cause disquiet among the attendees. Unrest may be related to a lack of awareness of nature and context of the meeting and proposed outcomes (for example, whether the meeting is for a charitable Trust). Some TOs will only attend where there are sitt...
Sitting Fees. As an Independent Director you shall be paid sitting fees for attending the meetings of the Board of which you are a member as fixed by the Board from time to time. The sitting fees presently paid to the Non-Executive Independent Director is [*] per meeting of the Board.
