Section 2 - Sugar Research and Development Corporation

Sugar Research and Development Corporation
NOTES OF THE FINANCIAL STATEMENTS
Note 13B: Average Annual Remuneration Packages and Bonus Paid for Substantive Senior Executives
as at the end of the Reporting Period
as at 30 June 2011
Fixed elements
Senior
Bonus
Executives Salary Allowances Total paid2 Fixed Elements and Bonus Paid1 Total remuneration
(including part-time arrangements):
No. $ $ $ $
$150,000 to $179,999 1 175,000 – 175,000 –
Total 1
as at 30 June 2010
Fixed elements
Senior
Bonus
Executives Salary Allowances Total paid2 Fixed Elements and Bonus Paid1 Total remuneration
(including part-time arrangements):
No. $ $ $ $
$150,000 to $179,999 1 175,000 – 175,000 –
Total 1
Notes:
1. This table reports substantive senior executives who were employed by the entity at the end of the
reporting period. Fixed elements were based on the employment agreement of each individual.
Each row represents an average annualised fi gure (based on headcount) for the individuals in that
remuneration package band (i.e. the ‘Total’ column).
2. The remuneration package for the Executive Director does not include provision for performance
bonuses or increments.
Variable Elements:
The following variable elements were available as part of senior executives’ remuneration package:
(a) The Executive Director is entitled to the following leave entitlements:
� Annual Leave (AL): entitled to 20 days (2010: 20 days) each full year worked;
� Personal Leave (PL): entitled to 15 days (2010: 15 days); and
� Long Service Leave (LSL): in accordance with Long Service Leave (Commonwealth Employees)
Act 1976.
(b) The following contributions for the Executive Director were made to the following superannuation
fund:
� During 2010–2011 the Corporation made employer contributions to the Commonwealth
Superannuation Scheme (CSS) as per the defi ned benefi ts identifi ed by Comsuper. More
information on CSS can be found at http://www.css.gov.au
SRDC Annual Report 2010–2011 101