Our performance in 2009 - Sappi

No issue and/or sale of these shares is contemplated at
present nor will be made which could effectively transfer
control of Sappi without the prior approval of shareholders
in general meeting.
6. Ordinary resolution number 5:
Non-executive directors’ fees
‘Resolved that, with effect from 01 October 2009 and until
otherwise determined by Sappi Limited (‘Sappi’) in general
meeting, the remuneration of the non-executive directors
for their services shall be increased as follows:
1. Sappi board fees
From To
Chairperson ZAR1,650,000 pa* ZAR1,765,500 pa*
* Inclusive of all committee fees.
Senior independent non-executive director
If South African
resident ZAR356,000 pa ZAR380,900 pa
If European resident GBP54,600 pa
If USA resident US$82,700 pa
Other directors
If South African
resident ZAR237,500 pa ZAR254,100 pa
If European resident GBP35,700 pa GBP36,400 pa
If USA resident US$54,000 pa US$55,100 pa
2. Audit committees
Group committee
Chairperson
From To
If South African
resident ZAR237,500 pa ZAR254,100 pa
If European resident GBP35,700 pa GBP36,400 pa
If USA resident US$54,000 pa US$55,100 pa
Other members
If South African
resident ZAR118,000 pa ZAR126,300 pa
If European resident GBP17,900 pa GBP18,300 pa
If USA resident US$27,000 pa US$27,500 pa
Regional audit committees
Chairperson
If South African
resident
If European resident
If USA resident
ZAR30,000
per meeting
GBP4,600
per meeting
US$6,750
per meeting
ZAR32,100
per meeting
GBP4,700
per meeting
US$6,900
per meeting
2009 annual report
203
From To
3. Human resources committee, compensation committee,
nomination and governance committee and any
additional committees
Chairperson
If South African
resident ZAR148,000 pa ZAR158,400 pa
If European resident GBP21,500 pa GBP21,900 pa
If USA resident US$32,000 pa US$32,600 pa
Other members
If South African
resident ZAR77,000 pa ZAR82,400 pa
If European resident GBP15,100 pa GBP15,400 pa
If USA resident US$19,500 pa US$19,900 pa
Regional audit committees
Chairperson
If South African
resident
If European resident
If USA resident
ZAR30,000
per meeting
GBP4,600
per meeting
US$6,750
per meeting
ZAR32,100
per meeting
GBP4,700
per meeting
US$6,900
per meeting
From To
4. Additional meeting fees, board meetings in excess of five
meetings per annum (whether attended in person or by
teleconference/videoconference)
If South African
ZAR23,700 ZAR25,400
resident
per meeting per meeting
GBP3,500 GBP3,600
If European resident per meeting per meeting
US$5,400 US$5,500
If USA resident
per meeting per meeting
5. Travel compensation (increase of 3.7%)
For more than ten
flight hours return
US$2,700
per meeting
From To
US$2,800
per meeting
Sappi indicated in the notice to shareholders dated
06 December 2004 that it planned to review directors’ fees
annually in future. Ordinary resolution number 5 increases the
remuneration currently paid to non-executive directors and
board committee members by between approximately 2%
and 7% per annum depending generally on the domicile of
the directors and the currency in which they are paid, with
effect from 01 October 2009. The fees were last increased
with effect from 01 October 2008 and have been reviewed
financials