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Wool Stocktake : AWI Annual Report 2014-15
(iii) Executive pay The executive pay consists of base pay, benefits and superannuation. These are structured at the executives' discretion as a total employment cost package, which may be delivered as a mix of cash and non cash benefits. The value of non financial benefits is calculated on the basis of the total cost to the Group, so that the total expense to the Group is no more than it would have been had the Group paid cash salary plus statutory superannuation contributions. Superannuation payments are made in accordance with the Superannuation Guarantee legislation in Australia and per overseas jurisdictions, to the executive's choice of superannuation fund. Australian Wool Innovation Limited does not offer a defined benefit retirement plan. There are no guaranteed pay increases in any senior executive contracts. (iv) Executive Service Agreements Remuneration and other terms of employment for the Executive Management Team are formalised in service agreements. These service agreements state a salary package (which is calculated on a total cost to the Group basis). None of these service agreements include share options or termination conditions in excess of six months. (i) Non executive Directors of Australian Wool Innovation Limited Short-term employee benefits Post-employment benefits Directors' base fees paid Committee fees paid Superannuation Total Name $ $ $ $ Mr W B Merriman 121,452 21,254 13,557 156,263 Mr P Cocking 60,726 7,591 6,490 74,807 Ms C Garnsey 60,726 8,414 6,568 75,708 Mr J Morgan 60,726 7,591 6,490 74,807 DrMLSheil 60,726 12,145 6,923 79,794 Mr B P van Rooyen 60,726 21,254 7,788 89,768 MrDAAWebster 60,726 26,285 8,266 95,277 Total 485,808 104,534 56,082 646,424 Short-term employee benefits Post-employment benefits Directors' base fees paid Committee fees paid Superannuation Total Name $ $ $ $ Mr W B Merriman 118,490 20,736 12,878 152,104 Mr P Cocking 35,794 3,549 3,639 42,982 Mr G B S Falkiner 24,685 8,023 3,026 35,734 Mr R J Fletcher 37,028 3,086 3,711 43,825 Ms C Garnsey 59,245 8,209 6,240 73,694 Mr J Morgan 35,794 3,549 3,639 42,982 DrMLSheil 59,245 9,473 6,356 75,074 Mr B P van Rooyen 59,245 20,736 7,398 87,379 MrDAAWebster 59,245 25,644 7,852 92,741 Total 488,771 103,005 54,739 646,515 FINANCIAL REPORT
AWI Annual Report 2013-14
AWI Annual Report 2015-16