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Singapore Airlines Annual Report 2007-08
42
CORPORATE GOVERNANCE REPORT
For the period 1 April 2007 to 31 March 2008
The SIA Restricted Share Plan (RSP)
The RSP is targeted at a broader base of senior executives and enhances the Company’s ability to recruit and retain talented
senior executives as well as to reward for Company and individual performance. Consistent with the Company’s philosophy on
adopting a pay-for-performance principle, awards under the RSP are contingent on the achievement of performance targets like
EBITDAR margin and staff productivity over a two-year performance period. To encourage participants to continue serving the
Company beyond the performance period, an extended vesting period is imposed beyond the performance target completion
date.
The total number of Shares which may be issued pursuant to awards granted under the PSP and RSP, when added to the
number of new shares issued and issuable in respect of all awards granted under the RSP and PSP, and all options under the
ESOP, shall not exceed 13% of the total number of issued ordinary shares (excluding treasury shares) in the capital of the
Company from time to time.
Details of the Company’s ESOP, PSP and RSP can be found on pages 72 to 76 of the Report by the Board of Directors.
Proposed Directors’ Fees
The Directors’ fees proposed to be paid in financial year 2007-08 amount to S$1,497,220 [financial year 2006-07: S$1,319,304]
and is derived using the following rates:
Rates (S$)
Board Retainers Board Member 80,000
Chairman 160,000
Committee Retainers Chairman of Executive Committee and Audit Committee 50,000
Chairman of other Board Committees, Member of 35,000
Executive Committee and Audit Committee
Member of other Board Committees 20,000
Attendance Fees Home-city 5,000
In-region 10,000
Out-region 20,000
Teleconference – Normal hours 1,000
Teleconference – Odd hours 2,000