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BLUE LABEL INTEGRATED ANNUAL REPORT 2014
AIRTIME
For the 2015 financial year, the Group will continue to use the services of Mr NN Lazarus SC for the provision of
legal, corporate, financial and strategic advice, for which he shall receive market-related fees. Such fees shall be
considered by executive management, approved by the Chairman of the Board, who in turn submits them to the
Board for approval. The Board resolved at its meeting held on 30 June 2014 that non-executive directors’
remuneration be increased for the 2015 financial year by 6%, subject to the approval of shareholders.
The proposed fees payable to non-executive directors are set out below:
Services as directors
Current fee
per meeting
Proposed
fee per
meeting*
Proposed
capped fee
per annum**
– Chairman of the Board
–
R893 262
– Board members
R38 584
R40 899
R204 495
Audit, Risk and Compliance Committee
– Chairman
R53 589
R56 804
R227 216
– Member
R32 154
R34 083
R136 332
Remuneration and Nomination
Committee
– Chairman
R42 871
R45 443
R181 772
– Member
R25 724
R27 267
R109 068
Investment Committee
– Chairman
R32 154
R34 083
R272 664
– Member
R19 292
R20 450
R163 600
Transformation, Social and Ethics
Committee
– Chairman
R32 154
R34 083
R136 332
– Member
R19 292
R20 450
R81 800
Ad hoc committee
– Chairman
R32 154
R34 083
R136 332
– Member
R19 292
R20 450
R81 800
* In the event that there are fewer meetings held per year than envisaged, the member shall receive the fee in respect of the number
of meetings attended.
** In the event that there are more meetings held per year than initially planned, directors’ fees will be paid only up to the cap.
On behalf of the Remuneration Committee:
NN Lazarus SC
Chairman
22 October 2014
REMUNERATION
REPORT
CONTINUED