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Telephone : (632) 706-7888

Facsimile  : (632) 706-5982

                    (632) 706-5980

E-mail:   info@wellexindustries.com

WELLEX INDUSTRIES INC.

35th Floor, One Corporate Center

Julia Vargas Ave. corner Meralco Ave.

Ortigas Center, Pasig City, Philippines 1605

Wellex

Industries Incorporated

Audit Committee

The Audit Committee is composed of at least three (3) members of the Board, one (1) of whom shall be an independent director. Each member has an adequate understanding at least or competence at most of the Company’s financial management systems and environment.  

Executive Committee

The Executive Committee composed of at least (3) directors. Said committee may act, by majority vote of all its members, on such specific matters within the competence of the board, as may be delegated to it in the bylaws or by majority vote of the board, except with respect to the: (a) approval of any action for which shareholders’ approval is also required; (b) filling of vacancies in the board; (c) amendment or repeal of bylaws or the adoption of new bylaws; (d) amendment or repeal of any resolution of the board which by its express terms is not amendable or repealable; and (e) distribution of cash dividends to the shareholders. The board of directors may create special committees of temporary or permanent nature and determine the members’ term, composition, compensation, powers, and responsibilities.

Nomination Committee

The Nomination Committee which is composed of at least three (3) members and one of whom is an independent director, reviews and evaluates the qualifications of all persons nominated to the Board and other appointments that require Board approval, and assesses the effectiveness of the Board’s processes and procedures in the election or replacement of directors.

Compensation Committee

The Compensation Committee which is composed of at least three (3) members and one of whom is an independent director establishes a formal and transparent procedure for developing a policy on remuneration of directors and officers to ensure that their compensation is consistent with the corporation’s culture, strategy and the business environment in which it operates.