Air New Zealand 2012 Annual Report Download - page 64

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Dr฀Jim฀Fox
BIOTA Holdings Limited Chairman
Genmark Diagnostics Inc (USA) Director
Multiple Sclerosis Research Australia Limited Director
TTP Group (UK) Plc Director
Warren฀Larsen
Accreditation Board – Institute of Directors Member
Alpine Energy Limited Director
Centreport Limited Chairman
Landcorp Farming Limited Deputy Chairman
Larsen Consultancy Services Limited Director / Shareholder
Netcon Limited Director
New Zealand Animal Evaluation Limited Chairman
Directors’ Remuneration
The directors’ remuneration is paid in the form of directors’ fees. Additional fees are paid to the Chairman and Deputy Chairman and
in respect of work carried out by individual directors on various Board Committees to reflect the additional responsibilities of these
positions. The total of fees to be paid to directors is subject to shareholder approval. Air New Zealand meets directors’ reasonable travel
and other costs associated with Air New Zealand business.
Directors received the following fees and remuneration from Air New Zealand Limited in the year to 30 June 20121:
NAME
DIRECTORS’
FEES
COMMITTEE
FEES
TOTAL
REMUNERATION
VALUE OF TRAVEL
ENTITLEMENT
2
John Palmer (Chairman) 249,948 - 249,948 26,594
Roger France (Deputy Chairman) 94,767 47,384 142,151 43,245
Paul Bingham 82,921 16,584 99,505 20,600
Tony Carter482,684 28,430 111,114 10,056
Jan Dawson 82,921 18,953 101,874 13,171
Jane Freeman3, 4 14,623 3,342 17,965 -
Jim Fox 81,974 40,276 122,250 -
Warren Larsen 82,447 33,168 115,615 50,924
Total 772,285 188,137฀ 960,422 164,590
1. No employee of the Group received or retains any remuneration or other benefits as a director of any subsidiary company.
2. Includes value of travel benefits for related parties and benefits accrued in prior years availed in current year.
3. Retired during the year.
4. GST exclusive.
Indemnities and Insurance
Pursuant to section 162 of the Companies Act 1993 and the Constitution, Air New Zealand has entered into deeds of access, insurance
and indemnity with the directors of the Group to indemnify them to the maximum extent permitted by law, against all liabilities which
they may incur in the performance of their duties as directors of any company within the Group. Insurance cover extends to directors
and officers for the costs and expenses of successfully defending legal proceedings. Specifically excluded are penalties and fines which
may be imposed for breaches of law and criminal actions. In accordance with commercial practice, the insurance contract prohibits
further disclosure of the terms of the policy. All directors who voted in favour of authorising the insurance certified that in their opinion,
the cost of the insurance is fair to the Company.
Directors’ Interests (Continued)
AIR NEW ZEALAND ANNUAL FINANCIAL RESULTS 2012
62