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Wool Stocktake : AWI Annual Report 2012-13
(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 benefits 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 116,281 20,349 13,321 149,951 Mr R J Fletcher 87,211 9,436 8,698 105,345 Mr G B S Falkiner 58,140 18,895 6,933 83,968 Ms C Garnsey 58,140 5,887 5,762 69,789 DrMLSheil 58,140 7,268 5,887 71,295 Mr B P van Rooyen 58,140 20,349 7,064 85,553 MrDAAWebster 58,140 25,166 7,498 90,804 Total 494,192 107,350 55,163 656,705 Short-term employee benefits Post-employment benefits Directors' base fees paid Committee fees paid Superannuation Total Name $ $ $ $ Mr W B Merriman 114,315 17,672 11,879 143,866 Mr R J Fletcher 85,736 14,811 9,049 109,596 Mr G B S Falkiner 57,157 18,576 6,816 82,549 Ms C Garnsey (elected 18 November 2011) 35,648 - 5,118 40,766 DrMLSheil 57,157 7,728 5,840 70,725 Mr B P van Rooyen 57,157 21,872 7,113 86,142 MrDAAWebster 57,157 22,260 7,148 86,565 Total 464,327 102,919 52,963 620,209 FINANCIAL REPORT
AWI Annual Report 2013-14
AWI Annual Report 2011-12