Our performance in 2009 - Sappi

90
Compensation report continued
Service contracts and notice periods
The group chief executive and his direct reports all have employment contracts which outline the required notice periods in the event
of a termination of employment. A payment in lieu of notice may be made on termination of employment. Such payment takes into
account base salary and benefits less deductions required by law.
The notice periods vary from three months to 18 months.
Non-executive directors
Directors are normally remunerated in the currency of the country in which they live or work from. The remuneration is translated into
US Dollars (the group’s reporting currency) at the average exchange rates prevailing during the reporting year. Directors’ fees are
established in local currencies to reflect market conditions in those countries.
Non-executive directors’ fees reflect their services as directors and services on various sub-committees on which they serve, and the
quantum of committee fees depends on whether the director is an ordinary member or a chairman of the committee.
The extreme volatility of currencies, in particular the Rand/US Dollar exchange rate in the past few years, caused distortion of the
relative fees paid to individual directors.
Non-executive directors’ fees are proposed by the executive committee, agreed by the compensation committee, recommended
by the board and approved at the annual general meeting by the shareholders.
Board Committee Travel
Director fees fees allowance Total
US$
D C Brink 39,496 38,054 5,400 82,950
M Feldberg 54,000 51,700 13,500 119,200
J E Healey 54,000 73,500 13,500 141,000
D Konar 26,350 51,811 5,400 83,561
H C Mamsch 55,615 80,072 8,100 143,787
B Radebe 26,349 8,543 5,400 40,292
A N R Rudd 55,615 47,046 8,100 110,761
F A Sonn 26,350 8,543 5,400 40,293
K Osar 54,000 27,000 13,500 94,500
J McKenzie 26,350 23,215 5,400 54,965
D C Cronje (2) 183,059 – 5,400 188,459
2009
601,185 409,484 89,100 1,099,769