Singapore Airlines 2010 Annual Report Download - page 40

SINGAPORE AIRLINES
038
corporate governance report
For the period 1 April 2009 to 31 March 2010
No employee of the Group who is an immediate family member of a Director was paid a remuneration that exceeded
S$150,000 during the financial year ended 31 March 2010.
Performance and
Restricted Shares
granted during
Bonus the year2
Fee Salary Fixed Variable1 Benefits Total Number
Senior Management % % % % % %
Between $1,000,000 to $1,250,000
Bey Soo Khiang - 40 5 48 7 100 24,640 PSP
22,400 RSP
Between $750,000 to $1,000,000
Huang Cheng Eng - 43 4 45 8 100 16,800 PSP
19,040 RSP
Mak Swee Wah - 43 4 41 12 100 16,800 PSP
19,040 RSP
Between $250,000 to $500,000
Ng Chin Hwee - 69 7 8 16 100 16,800 PSP
19,040 RSP
Less than $250,000
Goh Choon Phong3 - 78 - 8 14 100 8,960 PSP
14,560 RSP
1 Includes Economic Value Added (EVA)-based incentive plan (EBIP) payment and profit-sharing bonus. The amount paid in the reporting year
under EBIP is for the executive’s performance in respect of the financial year ended 31 March 2009 because the performance rating was finalized
and payment was made during the financial year ended 31 March 2010. See below for additional information on the EBIP.
2 Shares awarded under the PSP and RSP are subject to performance targets and other terms and conditions being met under the respective share plans.
3 Mr Goh Choon Phong was appointed as an Executive Vice-President on 1 March 2010 and, other than the PSP/RSP awards, the data here on his
remuneration is for only the month of March 2010.
Additional information on Economic Value Added (EVA)-based incentive plan (EBIP):
A portion of the annual performance-related bonus of senior management is tied to the EVA produced by the Group in
the year. Under the plan, one-third of the accumulated EBIP bonus, comprising the EBIP bonus declared in the financial
year and the balance of such bonus brought forward from preceding years, is paid out in cash each year. The remaining
two-thirds are carried forward in the individual executive’s EBIP account. Amounts in the EBIP account are at risk because
negative EVA will result in a retraction of EBIP bonus earned in preceding years. This mechanism encourages Management
to work for sustainable profitability and to adopt strategies that are aligned with the long-term interests of the Company.
The rules of the EBIP are subject to review by the Board Compensation and Industrial Relations Committee, which has the
discretion, under authority of the Board, to amend the rules where appropriate and relevant to the business conditions.