Committee Charters

Board committees have been established by the authority of the Company’s general assembly of shareholders pursuant to the Company’s Bylaws and shall operate in accordance with their respective Charters to supervise the Company’s operations ensuring adherence to Governance principles adopted by the Company.

Board Audit Committee Charter

Assist the Board in fulfilling its oversight responsibilities and in performing its duties and authorities with oversight of:

The integrity and accuracy of the Company’s financial statements/reports and internal control system.
The Company’s compliance with legal and regulatory requirements and code of conduct.
The auditor’s qualifications and independence.
The performance of the Company’s internal audit function and independent auditors.

Marketing Steering Committee Charter

Assist the Board in fulfilling its oversight responsibilities and in performing its duties and authorities:

Monitor the Marketing Department’s performance, review and provide recommendations on the effectiveness of short and long term marketing and product strategies.

Executive Committee Charter

Assist the Board in overseeing the Company’s interests in the most efficient manner while adhering to best practices of corporate governance:

Review and approve contract award.
Review business plan.
Review and approve additions to the annual budgets, plans, and programs.
Advise the Company’s management.
Approve the entry of the Company into transactions as permitted by law.

Nomination and Renumeration Committee Charter

Assist the Board in fulfilling its oversight responsibilities, and in performing its duties and authorities:

Lead the process of nomination and evaluation of directors and executives of the Company.
Ensure the effectiveness and soundness of the Company’s board and executive management structures, internal policies and procedures.
Assist the Board on the review and determination of the renumeration of directors and members of the committees and executive management.