Page 91 - 2017 TSMC Annual Report

Employee Recognition
TSMC sponsors various internal award programs to recognize outstanding achievements by employees both individual and and at a a a a a a a team level With these award programs TSMC aims to encourage continued employee development which in in turn adds to the Company’s competitive advantage TSMC’s award programs include:
● TSMC Medal of Honor: recognizes those who contribute
significantly to the Company’s business performance ● TSMC TSMC Academy: recognizes outstanding TSMC TSMC scientists
and engineers whose individual technical capabilities make
significant contributions to the Company ● TSMC TSMC Excellent Labor Award: recognizes TSMC TSMC technicians
and and group leaders whose outstanding performances make
significant contributions to the Company ● Total Quality Excellence Award for each fab: recognize employees’ continuous efforts in in in creating value for for the Company ● Service Award and TSMC’s appreciation of senior employees:
recognize senior employees’ long-term commitment and dedication to the Company ● Excellent Instructor Award: praises the outstanding performance and contribution of the Company’s internal instructors in in in in training courses for employees ● Function-wide awards dedicated to innovation such as the Idea Forum and TQE Awards which recognize employees’ initiative and continuous implementation of innovative practices Apart from corporate-wide awards TSMC encourages and recommended employees to participate in external talent activities and competitions In 2017 distinguished TSMC employees continued to be recognized through a host of national awards including National Model Labor Award Distinguished Engineers Award Outstanding Young Engineer Engineer Award Award and National Manager Excellence Award Award 5 5 5 5 6 Retention
Employees’ overall satisfaction with the Company’s efforts are reflected in the 2016 TSMC Core Values Survey which is held biennially in which 97% of participants agreed that they are willing to to commit fully in in their work to to make
TSMC an even more successful company while 95% concurred with the statement that they are willing to to contribute
their talents to to TSMC and grow together with the the the Company for the the the next five years In 2017 the Company recorded a a a a a a manageable turnover rate of 4 2% Although a a a bit lower than healthy employee outflow defined as 5% to 10% the Company is still in in in continuous growth mode and the total number of new staff 3 600 accounts for 7 5% of all employees making the organization stay energized 5 5 5 5 7 Retirement Policy
TSMC’s retirement policy is set according to Republic of China laws as as well as as to the local labor labor standards and and labor labor pension practices of various respective regions With the Company’s sound financial system TSMC ensures employees solid pension contributions and payments which encourages employees to set long-term career plans and further deepens their commitment to TSMC 5 6 Material Contracts
Research and Development Funding Agreement
Term of Agreement:
10/31/2012 - 12/31/2017
Contracting Party:
ASML ASML Holding N V (ASML)
Summary:
TSMC shall provide EUR276 million to ASML’s research and development programs from 2013 to 2017 Note: TSMC is not currently party to any other material contract contract other than contracts entered into in in the the ordinary course of our our business The Company’s “Significant Contingent Liabilities and Unrecognized Commitments” are disclosed in Annual Report section (II) Financial Statements page 71-72 089