​committee charters​

Morguard North American Residential REIT has three Board committees: Audit, Compensation and Governance and Investment 

Audit 

The Board has adopted a written charter for the Audit Committee, which set out the Audit Committee’s responsibility in reviewing the financial statements of the REIT and public disclosure documents containing financial information and reporting on such review to the Board, ensuring that adequate procedures are in place for the review of the REIT’s public disclosure documents that contain financial information, overseeing the work and reviewing the independence of the external auditors and reviewing, evaluating and approving the internal control procedures that are implemented and maintained by management. The Audit Committee is also responsible for supervising the REIT’s compliance with and implementation of the risk and environmental programs.

Download the Terms of Reference for the Audit Committee.pdf 

Compensation and Governance

The C&G Committee is charged with reviewing, overseeing and evaluating the governance and nominating policies and the compensation policies of the REIT. In addition, the C&G Committee will be responsible for: (i) assessing the effectiveness of the Board, each of its committees and individual Trustees; (ii) overseeing the recruitment and selection of candidates as Trustees of the REIT, other than Morguard’s nominees; (iii) organizing an orientation and education program for new Trustees and coordinating continuing Trustee development programs; (iv) considering and approving proposals by the Trustees to engage outside advisers on behalf of the Board as a whole or on behalf of the Independent Trustees; (v) reviewing and making recommendations to the Board concerning any change in the number of Trustees composing the Board; (vi) assessing the performance of the officers and other
members of the executive management team of the REIT; and (vii) reviewing and making recommendations to the Board concerning the level and nature of the compensation payable, if any, to the Trustees and officers of the REIT.

Download the Terms of Reference for the Compensation and Governance Committee.pdf 

Investment 

The Investment Committee may authorize, without Board approval, proposed acquisitions, dispositions or borrowings where the acquisition, disposition or borrowing, including the assumption or granting of any mortgage of the REIT where the value of such transaction does not exceed $25 million. The Investment Committee will also recommend to the Board whether to approve or reject proposed transactions, where the value of such transaction exceeds $25 million.

Download the Terms of Reference for Investment Committee.pdf


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