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Remuneration report
continued
Executive Directors’ service contracts
The three-year service contracts of the following Executive Directors, which expired on 14 November 2017, have been
renegotiated and extended for a further three years:
f
BM Levy
f
MS Levy
f
DA Suntup
BM Levy and MS Levy have agreed to the tenure of their restraint of trade undertakings to endure for a period of 36 months
as opposed to 12 months that was conditional in the expired contract. In return for this extension of restraint they will receive
a restraint payment of R10 million each, payable in 36 equal monthly instalments commencing on 1 November 2017. These
terms have been incorporated in their renewed employment contract.
Executive Directors’ composition of total remuneration
The graphs below provide an indication of remuneration outcomes for the executive directors illustrating actual value of
package excluding long-term incentives compared to the potential maximum value of package.
Guaranteed package
Short-term incentives
Outperformance bonus
0
20 000
15 000
10 000
5 000
Chief Executive Officers – actual value
(R’000)
Outperformancebonus
Short-term incentives
Guaranteedpackage
Guaranteed package
Short-term incentives
Outperformance bonus
Outperformancebonus
Short-term incentives
Guaranteedpackage
0
25 000
20 000
15 000
10 000
5 000
Chief Executive Officers – maximum value
(R’000)
Guaranteed package
Short-term incentives
Outperformance bonus
0
8 000
6 000
4 000
2 000
Financial Director – actual value
(R’000)
Outperformancebonus
Short-term incentives
Guaranteedpackage
Guaranteed package
Short-term incentives
Outperformance bonus
0
12 000
8 000
10 000
6 000
4 000
2 000
Financial Director – maximum value
(R’000)
Outperformancebonus
Short-term incentives
Guaranteedpackage
The scenario charts assume:
Guaranteed package – fixed pay and benefits for the year ended 31 May 2017
Short-term incentives – short-term performance-related bonus payments
Outperformance bonus – a bonus in the form of additional share allocations linked to the current growth in the share price
BLUE LABEL
INTEGRATED ANNUAL REPORT 2017
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