Professional Documents
Culture Documents
I.
PURPOSEANDOPERATIONOFTHECOMMITTEE
The Human Resource and Compensation Committee (the Committee) is established by
the Board of Directors (the Board) of Goldcorp Inc. (Goldcorp or the Company) to
assist the Board in fulfilling its responsibilities relating to human resources and
compensationissuesandtoestablishaplanofcontinuityfortheCEOdirectreports(Direct
Reports).TheCommitteeensurestheCompanyhasanexecutivecompensationplanthatis
both motivational and competitive so that it attracts and retains the caliber of individuals
whowilldrivesustainableprofitabilityandgrowthfortheCompany.
II.
COMMITTEECOMPOSITIONANDOPERATIONS
A.
Any member of the Committee may be removed or replaced at any time by the
BoardofDirectorsandshallceasetobeamemberoftheCommitteeonceasingto
be a Director. The Board of Directors may fill vacancies on the Committee by
election from among its number. If and whenever a vacancy shall exist on the
Committee,theremainingmembersmayexerciseallitspowerssolongasaquorum
remainsinoffice.Subjecttotheabove,eachmemberoftheCommitteeshallhold
officeassuchuntilthenextannualmeetingofshareholdersafterhisorherelection.
B.
TheBoardofDirectorsmayfromtimetotimedesignateoneofthemembersofthe
Committee to be the Chair of the Committee and the Secretary of the Company
shallbeSecretaryoftheCommittee.
C.
ThemembersoftheCommitteeshallbeentitledtoreceivesuchremunerationfor
acting as members of the Committee as the Board of Directors may from time to
timedetermine.
D.
TheCommitteeshallbecomposedofnotfewerthanthreedirectorsandnotmore
thanfivedirectors,allofwhomshallbeindependentdirectors.
E.
ThePresidentandCEOshallbeexcludedfromthememberselectionprocess.
F.
No more than one in three members shall be a sitting CEO of another public
company.
G.
TheCommitteeshallmeetfourtimesperyearormorefrequentlyastheCommittee
maydeemnecessary.
H.
MembersoftheCommitteeshallhaveskillsandexperienceinmattersofexecutive
compensation,humanresourcesorriskmanagement.
Approved by the Committee on April 26, 2016 and by the Board of Directors on April 27, 2016.
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III.
I.
The Committee shall operate under the guidelines applicable to all Board
committees,whicharelocatedinitem31(vii)ofTabA7,BoardGuidelines.
J.
Committee members shall meet at the beginning and/or end of every meeting
withoutthepresenceofmanagement
DUTIESANDRESPONSIBILITIES
A.
Compensationpolicy
The Committee shall review and recommend the compensation philosophy and
guidelinesfortheCompany.Thisshallinclude:
B.
i)
reviewthecompensationphilosophyandguidelinesfortheDirectReports,
forrecommendationtotheBoardforitsconsiderationandapproval;
ii)
iii)
establishingpeergroupsofcomparablecompaniesandatargetcompetitive
positioning or range for the Companys executive compensation program;
and
iv)
CEOSuccession,EvaluationandCompensation
TheCommitteeshall:
i)
ii)
periodicallyreviewthetermsofreferencefortheCEOandrecommendany
changestotheBoardforapproval;
iii)
review corporate and individual goals and objectives relevant to the CEOs
compensationandrecommendthemtotheBoardforapproval;
iv)
leadtheboardintheannualCEOreview/evaluationprocess,andreportthe
resultsoftheprocesstotheBoard;
Approved by the Committee on April 26, 2016 and by the Board of Directors on April 27, 2016.
page 2
C.
v)
vi)
CompensationoftheDirectReports
TheCommitteeshall,inconsultationwiththeCEO,reviewtheCEOsassessmentof
theDirectReportsandmakerecommendationstotheBoardforitsapproval:
D.
i)
allmattersconcerningincentiveawards,compensationperformancetargets,
perquisites and other remuneration matters with respect to the Direct
Reports;
ii)
benefitandretirementplansapplicabletotheDirectReportsincludinglevels
andtypesofbenefits;
iii)
any stock option plan, restricted share unit plan, performance share unit
planorothersimilarequitybasedplan
iv)
any agreements between the Company and the Direct Reports, including
those addressing retirement, termination of employment or other special
circumstances(e.g.changeofcontrol),asappropriate,and;
v)
AdministrationofEquityIncentivePlans
TheCommitteeshall,inconjunctionwithmanagement,administerthestockoption
plan, the restricted share unit plan, performance share unit plan and such other
similarplansasdeterminedandestablishedbytheBoardtobegrantedtotheDirect
Reports.Thecommitteeshall:
i)
reviewmanagementsrecommendationsforand,subjecttoconfirmationby
the Board, recommend approval to the Board for the granting of awards
under such plan to the Direct Reports and other key employees of the
Companyanditssubsidiaries;and
ii)
Approved by the Committee on April 26, 2016 and by the Board of Directors on April 27, 2016.
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E.
F.
SuccessionandReview
i)
TheCommitteeshallannuallyreviewtheCompanyssuccessionplansforthe
DirectReports.TheCommitteeshallmonitortheprogressanddevelopment
of executives in accordance with the succession plans and annually review
the adequacy of the succession candidates to foster timely and effective
executive continuity. The Committee shall report on these matters to the
Boardatleastonceayear.
ii)
ReviewHumanResourcesPoliciesandPractices
TheCommitteeshall:
i)
ii)
iii)
iv)
v)
review and assess the adequacy of these Terms of Reference and, where
necessary, recommend changes to the Board of Directors for its approval;
and
vi)
Approved by the Committee on April 26, 2016 and by the Board of Directors on April 27, 2016.
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G.
H.
LegalandRegulatoryComplianceandStakeholderRelations
i)
ii)
TheCommitteeshallensurethatallpublicdisclosurebytheCompanyofany
compensation report, is reviewed by the Committee and the Committee
will then make a recommendation to the Board for its approval and
publication.
iii)
Other
TheCommitteeshallalsohavesuchotherpowersanddutiesasdelegatedtoitby
theBoard.
IV.
AUTHORITY
TheCommitteehastheauthorityto:
V.
A.
Formanddelegatealloraportionofitsdutiesandauthoritytosubcommittees
orindividualswhenappropriate;
B.
Engageanddirectindependentcompensationconsultants,independentcounsel
andotheradvisorsasitdeterminesnecessarytocarryoutitsduties;
C.
Set and authorize payment by the Company of the compensation for advisors
employed by the Committee. The Committee makes arrangements for the
appropriatefundingforpaymentofsuchconsultants.
ACCOUNTABILITY
A.
TheCommitteeChairhastheresponsibilitytomakeperiodicreportstotheBoard,
asrequested,oncompensationandbenefitmattersrelativetotheCompany.
Approved by the Committee on April 26, 2016 and by the Board of Directors on April 27, 2016.
page 5
B.
VI.
TheCommitteeshallreportitsdiscussionstotheBoardbymaintainingminutesof
itsmeetingsandprovidinganoralreportatthenextBoardmeeting.
HUMANRESOURCESANDCOMPENSATIONCOMMITTEECHAIRPOSITIONDESCRIPTION
In addition to the duties and responsibilities setout in the Board of Directors Guidelinesand any
other applicable charter, mandate or position description, the chair (the Chair) of the Human
Resources and Compensation Committee (the Committee) of Goldcorp (the Corporation) has
thedutiesandresponsibilitiesdescribedbelow.
A.
ProvideoverallleadershiptoenhancetheeffectivenessoftheCommittee,including:
i)
Overseeingthestructure,composition,membershipandactivitiesdelegated
totheCommittee;
ii)
Chairing every meeting of the Committee and encouraging free and open
discussionatmeetingsoftheCommittee;
iii)
SchedulingandsettingtheagendaforCommitteemeetingswithinputfrom
other committee members, the Chair of the Board of Directors and
managementasappropriate;
iv)
Facilitatingthetimely,accurateandproperflowofinformationtoandfrom
the Committee;\arranging for management, internal personnel, external
advisors and others to attend and present at Committee meetings as
appropriate;
v)
ArrangingsufficienttimeduringCommitteemeetingstofullydiscussagenda
items;
vi)
vii)
Taking all other reasonable steps to ensure that the responsibilities and
duties of the committee, as outlined in its Charter,are wellunderstoodby
theCommitteemembersandexecutedaseffectivelyaspossible.
B.
Fosterethicalandresponsibledecisionmakingbythecommitteeanditsindividual
members
C.
Approved by the Committee on April 26, 2016 and by the Board of Directors on April 27, 2016.
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D.
VII.
FollowingeachmeetingoftheCommittee,reporttotheBoardofDirectorsonthe
activities,findingsandanyrecommendationsofthecommittee.
COMMITTEEAGENDASANDTIMETABLE
TheCommitteeshallatleastannuallyapproveaoneyearforwardagendaorschedule.The
agenda for each of its meetings shall be reviewed and approved by the Chair of the
Committee. The timetable on the following pages outlines the Committees schedule of
activitiesduringtheyear.
Approved by the Committee on April 26, 2016 and by the Board of Directors on April 27, 2016.
page 7