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Board of Trustees Committee Mandates

Board Committees

The Committees are an integral part of Killam's governance structure as they facilitate effective Board of Trustees' decision-making by providing recommendations to the Board of Trustees on matters within their respective responsibilities. The Board of Trustees has three Committees: the Audit Committee, the Governance, Nomination and Succession Committee and the Compensation Committee. Each Committee consists of a minimum of two trustees, one of whom is designated the Chairman, as appointed by the Board of Trustees. A summary of the activities and responsibilities of each of the Committees is set out below.

 

Audit Committee

G. Wayne Watson Karine MacInroe Robert G. Kay
G. Wayne Watson (Chair) Karine MacIndoe Robert G. Kay

The primary responsibility for Killam's financial reporting, accounting systems and internal controls are vested in senior management and are overseen by the Board of Trustees. The Audit Committee is a standing committee of the Board of Trustees established to assist the Board of Trustees in fulfilling its responsibilities in this regard. The Audit Committee has unrestricted access to Killam's personnel and documents.

Audit Committee Mandate

 

Governance, Nomination and Succession Committee

Manfred J. Walt Arthur G. Lloyd Aldéa Landry
Manfred J. Walt (Chair) Arthur G. Lloyd Aldéa Landry

The Corporate Governance, Nomination and Succession Committee assumes general responsibility for developing Killam's approach to governance issues and applicable guidelines,makes recommendations to the Board of Trustees in this regard for discussion and final approval. The Committee is also responsible for identifying, recruiting, appointing trustees and providing ongoing development for directors and overseeing Board and trustee evaluations. Specifically, the Governance Committee reviews, reports and where appropriate, provides recommendations on: (i) candidates for election to the Board of Trustees; (ii) standards of performance for trustees; (iii) the size of the Board of Trustees; (iv) tenure of individual trustees; (v) trustees' remuneration in relation to current compensation practices; and (vi) the structure, responsibility and composition of Board Committees and the merit of Unitholder proposals.

Governance, Nomination & Succession Committee Mandate 

 

Compensation Committee

Timothy R Banks Karine MacInroe G. Wayne Watson
Timothy R. Banks (Chair) Karine MacIndoe G. Wayne Watson

The Compensation Committee is responsible for reviewing, reporting and, where appropriate, providing recommendations to the Board of Trustees on: (i)the appointment of the Chief Executive Officer and other officers; (ii) existing management resources and succession plans for officers and other management ranks; (iii) the performance of the Chief Executive Officer and other officers; (iv) Killam's executive compensation policy and the compensation of the Chief Executive Officer and other officers; and (v)proposed material changes to organization or personnel and the consideration of pension and benefit plan issues.

Compensation Committee Mandate 

Prince Edward Island