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AR 167/2007 ALBERTA INVESTMENT MANAGEMENT CORPORATION ACT REMUNERATION REGULATION

(Consolidated up to 50/2008)

ALBERTA REGULATION 167/2007

Alberta Investment Management Corporation Act

ALBERTA INVESTMENT MANAGEMENT CORPORATION
ACT REMUNERATION REGULATION

Table of Contents

                1       Definitions

                2       Annual retainers

                3       Board meetings


                4       Committee meetings

             4.1       Other remuneration

                5       Coming into force

Definitions

1   In this Regulation,

                                 (a)    “audit committee” means the audit committee established under section 10 of the Act;

                                 (b)    “bylaws” means the bylaws made by the board of directors under section 9 of the Act;

                                 (c)    “director” means a member of the board of directors appointed under section 4(1)(a) of the Act.

Annual retainers

2(1)  A director shall be paid a retainer in the amount of $20 000 per year during the director’s term of appointment as a director.

(2)  A director who is designated as chair of the board under section 4(2) of the Act shall be paid, in addition to the retainer referred to in subsection (1), a retainer in the amount of $50 000 per year during that director’s designation as chair.

(3)  A director who is appointed as vice‑chair of the board in accordance with the bylaws shall be paid, in addition to the retainer referred to in subsection (1), a retainer in the amount of $10 000 per year during that director’s appointment as vice‑chair.

(4)  A director who is appointed in accordance with the bylaws as chair of the audit committee shall be paid, in addition to the retainer referred to in subsection (1), a retainer in the amount of $10 000 per year during that director’s appointment as chair.

(5)  A director who is appointed in accordance with the bylaws as chair of a committee established by the board shall be paid, in addition to the retainer referred to in subsection (1), a retainer in the amount of $7500 per year during that director’s appointment as chair.

Board meetings

3   A director shall be paid $1000 for each day during which the director participates in meetings of the board of directors.

Committee meetings

4   A director shall be paid $1000 for each day during which the director participates in meetings of a committee established by the board.

Other remuneration

4.1   A director may be paid, in accordance with policies established by the board and approved by the Minister, additional remuneration to compensate the director with respect to

                                 (a)    their time required to travel to and from meetings of the board or of a committee established by the board, or

                                 (b)    their carrying out other duties as a director.

AR 50/2008 s2

Coming into force

5   This Regulation comes into force on the coming into force of the Alberta Investment Management Corporation Act.