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| Corporate governance report | Page 1 2 3 4 5 6 7
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| REMUNERATION AND SHARE OPTION
AND PLANS REPORT (Continued) |
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| Terms of service |
| A variety of benefits are available to employees, including
retirement funds, medical aid, annual bonuses, long
service awards at five-year intervals, meals at work, and in some instances – subsidised transport. Additionally,
access to home loans via a variety of preferential schemes
is available, as well as a home loan subsidy arrangement
in terms of an agreement with SACCAWU. |
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| Emoluments |
| The service contracts with executive directors and senior
executives are terminable on six months' notice and there
are no contracts with fixed durations. |
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| Paid to directors of the company by the company and its subsidiaries* |
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Bonus |
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Salary
R |
Gross
R |
Deferred ***
R |
Retirement
contributions
R |
Other
benefits****
R |
Total annual
remuneration
R |
| Executive directors |
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| 2007 |
|
|
|
|
|
|
| DC Coutts-Trotter |
3 332 550 |
5 364 559 |
(1922 642) |
581 357 |
286 093 |
7 641 917 |
| RP Becker |
1 869 162 |
2 134 001 |
(765 122) |
434 700 |
111 138 |
3 783 879 |
| |
5 201 712 |
7 498 560 |
(2687 764) |
1 016 057 |
397 231 |
11 425 796 |
| 2006 |
|
|
|
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| PD Bacon |
3 767 329 |
5 760 587 |
(957 403) |
316 305 |
587 474 |
9 474 292 |
| DC Coutts-Trotter |
2 356 022 |
2 857 922 |
(465 134) |
416 355 |
534 434 |
5 699 599 |
| RP Becker** |
1 769 618 |
1 403 087 |
(338 079) |
414 000 |
116 382 |
3 365 008 |
| |
7 892 969 |
10 021 596 |
(1760 616) |
1 146 660 |
1 238 290 |
18 538 899 |
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Consultancy
fees
(subsidiary) |
Directors’,
committee
and trustee
fees
(subsidiaries
and trusts) |
Directors’
fees
R |
Committee
fees
R |
Total
2007
R |
Total
2006
R |
| Non-executive directors |
|
|
|
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| DA Hawton |
|
90 832 |
875 000 |
95 000 |
1 060 832 |
915 000 |
| H Adams |
207 000 |
50 000 |
148 000 |
– |
405 000 |
344 000 |
| L Boyd |
|
|
148 000 |
48 000 |
196 000 |
185 000 |
| PL Campher |
|
50 000 |
148 000 |
48 000 |
246 000 |
185 000 |
| MP Egan |
|
10 000 |
148 000 |
175 000 |
333 000 |
305 000 |
| NN Gwagwa |
|
59 332 |
148 000 |
– |
207 332 |
82 274 |
| IN Matthews |
|
30 000 |
148 000 |
90 000 |
268 000 |
225 000 |
| LM Mojela |
|
|
148 000 |
– |
148 000 |
140 000 |
| MV Moosa |
|
90 832 |
148 000 |
– |
238 832 |
82 274 |
| DM Nurek |
|
|
148 000 |
149 000 |
297 000 |
280 000 |
| E Oblowitz |
|
|
148 000 |
64 000 |
212 000 |
200 000 |
| GR Rosenthal |
|
|
148 000 |
106 000 |
254 000 |
240 000 |
| PEI Swartz |
|
|
148 000 |
– |
148 000 |
152 000 |
| |
207 000 |
380 996 |
2 651 000 |
775 000 |
4 013 996 |
3 335 548 |
| Executive directors |
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|
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| DC Coutts-Trotter |
|
131 744# |
|
|
131 744 |
20 000# |
| RP Becker |
|
151 451# |
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|
151 451 |
|
| |
207 000 |
664 191 |
2 651 000 |
775 000 |
4 297 191 |
3 355 548 |
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| # |
Directors’ fees received from subsidiaries and waived in favour of their holding companies. |
| * |
For the purposes of emoluments, offshore payments have been converted to Rands at the annual average exchange rate. |
| ** |
Excludes a non-recurrent sign-on fee paid to Mr Becker of R1 250 000. |
| *** |
In terms of the group's executive bonus scheme, a portion of the bonus is deferred in the event that the target bonus is exceeded.
This deferred portion is payable in future years in the event that the individual's target bonus is not achieved. Payment is dependent
on the executive being in the employ of the group at the future bonus accrual date. |
| **** |
'Other benefits' paid in 2006 include cash distributions of R298 934 made as part of the termination of the Royale Share Option
Scheme, converted to Rands at the annual average exchange rate in respect of each of Messrs Bacon and Coutts-Trotter. |
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