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BLUE LABEL INTEGRATED ANNUAL REPORT 2015
NON-EXECUTIVE REMUNERATION
Non-Executive Directors receive fees for their
services on the Board and Board Committees,
dependent on their attendance at meetings.
Non-Executive Directors do not receive short-term
incentives nor do they participate in the forfeitable
share plan of the Company. The fees payable to the
Chairman and non-executive directors are
recommended by the RNC to the Board which, in
turn, proposes the fees for approval by the
shareholders at the AGM.
REMUNERATION REPORT
CONTINUED
Non-Executive Directors may be contracted to
render services to the Group in addition to the
aforegoing services from time to time. Details of the
fees paid to each of the Non-Executive Directors
during the year are reflected on pages 172 and 173.
The Board resolved at its meeting held on
30 June 2015 that Non-Executive Directors’
remuneration be increased for the 2016 financial
year by 6%, subject to the approval of shareholders.
The proposed fees payable to Non-Executive Directors are set out below:
Services as Directors
Current fee
Proposed fee
– Chairman of the Board (per annum)
R893 262
R946 858
– Board members (per meeting)
R40 899
R43 353
Audit, Risk and Compliance Committee
(per meeting)
– Chairman
R56 804
R60 212
– Member
R34 083
R36 128
Remuneration and Nomination Committee
(per meeting)
– Chairman
R45 443
R48 170
– Member
R27 267
R28 903
Investment Committee
(per meeting)
– Chairman
R34 083
R36 128
– Member
R20 450
R21 677
Transformation, Social and Ethics Committee
(per meeting)
– Chairman
R34 083
R36 128
– Member
R20 450
R21 677
Ad hoc Committee
(per meeting)
– Chairman
R34 083
R36 128
– Member
R20 450
R21 677
On behalf of the Remuneration Committee:
GD Harlow
Chairman
23 October 2015