SAPPI LTD (SAP) 6-K

14.3. Details of directors’ service contracts
The executive directors have service contracts with notice periods of 2 years or less. These notice periods are in line with international norms for executive
directors.
The only non-executive director who has a service contract with the company is Dr DC Cronjé, the Chairman of the Board of Directors. Subject to the
provisions of Sappi’s Articles of Association and his re-election by rotation as a director, his appointment as Chairman is for an initial period of up to three
years, expiring on 2 March 2011. None of the directors have provisions for pre-determined compensation on termination of their contracts exceeding two
years’ gross remuneration and benefits in kind.
All directors service contracts are available for inspection at the registered office of Sappi Limited during normal office hours
14.4. Service contracts
Sappisure Försäkrings AB, a fully owned subsidiary of the Sappi group is a captive insurance company situated in Sweden and is managed by AON Insurance
Manager (AIM) in Stockholm, Sweden. The practice of captive insurance companies being managed by insurance companies is normal, as owners do not
necessarily have the requisite insurance administration skills in-house. Other than Sappisure Försäkrings AB, neither Sappi Limited nor any of its subsidiaries
or any part thereof is managed or is proposed to be managed by a third party under a contract or arrangement.
14.5. Directors’ interests in Sappi
The following table sets out the directors’ interests in the shares in Sappi at the end of fiscal 2006 and fiscal 2007. For the purpose of this table, directors’
interests are those in shares owned either directly or indirectly as well as those shares in respect of which directors have vested obligations to purchase shares
or repay loans in terms of The Sappi Limited Share Incentive Trust.
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