Page 31 - Sun Resources Annual Report 2013

2012 Short-term employee benefits
Post
employment
benefits
Share based payments
Cash salary,
consulting fees
and Directors’
fees
Non monetary
benefits
Other
expenses
Super-
annuation
Equity and
options Total
Name $ $ $ $ $ $
Executive
Director
Mr M A Battrick 318,872 17,441 - 28,698 52,701 417,712
Sub-total 318,872 17,441 - 28,698 52,701 417,712
Non-Executive
Directors
Dr W Martinick 60,000 - - - 52,701 112,701
Dr P Linsley 124,548 - - - 52,701 177,249
Mr J D Kenny 25,000 - - - - 25,000
Mr D Kestel 20,833 - - - - 20,833
Mr A P Woods (i) 25,000 - - - 52,701 77,701
Sub-total 255,381 - - - 158,103 413,484
Executive Officers
Mr C Basson 86,860 - - - 23,715 110,575
Mr S Bayford 227,001 2,297 - 46,062 10,540 285,900
Sub-total 313,861 2,297 - 46,062 34,255 396,475
Total 888,114 19,738 - 74,760 245,059 1,227,671
(i) Mr A P Woods retired on 31 December 2011.
Remuneration consists of the following key elements:
a) Fixed remuneration: being base salary, superannuation and other benefits (including non-monetary);
b) Share based incentives as determined.
Fixed Remuneration
Fixed remuneration is reviewed annually by the remuneration committee. The process consists of a review of group
and individual performance, relevant comparative remuneration information from a variety of sources including
industry associations, and where considered appropriate, external advice on policies and practices.
C Service agreements (audited)
Dr W G Martinick
Term of agreement: Retires as determined by director rotation.
Director fees: $60,000.
Incentives: Share based incentives as determined.
Dr Govert van Ek
Term of agreement: Three years commencing on 20 March 2013
Base Salary: $390,000 per annum, inclusive of statutory superannuation.
Director fees: None.
Incentives: Share based incentives as determined.
Dr G van Ek was appointed as Managing Director on 20 March 2013.
Mr M A Battrick
Term of agreement: Four years commencing on the 1 February 2010.
Base Salary: $273,000 plus statutory superannuation, $10,487 car benefit and $5,000 insurance benefit.
Director fees: $50,000.
Incentives: Share based incentives as determined.
Mr M A Battrick retired as Managing Director on 19 March 2013.
DIRECTORS’ REPORT 29