The Nomination Committee shall be composed of at least three (3) members including one (1) independent director. The Committee shall have the following functions:

1. install and maintain a process to ensure that all directors to be nominated for election at the next Annual General Stockholders’ Meeting have the qualifications and none of the disqualifications stated in the by-laws and relevant statutes;
2. encourage the selection of a mix of competent directors, each of whom can add value and create independent judgment as to the formulation of sound corporate strategies and policies;
3. Review and evaluate the qualifications of all persons nominated to positions in the Corporation which require appointment by the Board.