Page 229 - TSMC 2020 Annual Report

e. Payables to related parties
Item
Payables to related parties
f. Others
Item
Manufacturing expenses
Research and development expenses
General and administrative expenses
Related Party Name/Categories
Xintec $ SSMC
VIS
Other associates
$
1,358,624 400,819 311,406
36,869 2,107,718
December 31, 2020
December 31, 2019
$ 736,860 487,944 153,977 56,119
$ 1,434,900
Years Ended December 31 2020 2019
Related Party Categories
Associates $ 5,439,978 Associates $ 256,496
Other related parties $ 120,000
$ 2,822,989 $ 163,425
$ 120,000
The sales prices and payment terms to related parties were not significantly different from those of sales to third parties. For other related party transactions, price and terms were determined in accordance with mutual agreements.
The Company leased factory and office from associates. The lease terms and prices were both determined in accordance with mutual agreements. The rental expenses were paid to associates monthly; the related expenses were both classified under manufacturing expenses.
g. Compensation of key management personnel
The compensation to directors and other key management personnel were as follows:
Years Ended December 31
2020
Short-term employee benefits $ 2,666,696 Post-employment benefits 2,334
$ 2,669,030
2019
$ 1,922,191 2,686
$ 1,924,877
The compensation to directors and other key management personnel were determined by the Compensation Committee of TSMC in accordance with the individual performance and the market trends.
- 70 -
- 70 -