Singapore Airlines 2015 Annual Report Download - page 70

risk outcomes and be sensitive to the time horizon of risks. The
BCIRC has reviewed the various compensation risks that may
arise and introduced mitigating policies to better manage risk
exposures identified. The BCIRC will also undertake periodic
reviews of the compensation-related risks in future.
Pay-for-Performance Alignment
In performing the duties as required under its BCIRC Charter,
the BCIRC ensures that remuneration paid to the CEO and
Relevant Key Management Personnel is strongly linked to the
achievement of business and individual performance targets.
The performance targets as determined by the BCIRC are set at
realistic yet stretched levels each year to motivate a high degree
of business performance with emphasis on both short- and
long-term quantifiable objectives.
A pay-for-performance alignment study was conducted by the
appointed external remuneration consultant and reviewed
by BCIRC. It was found that there was suicient evidence
indicating pay-for-performance alignment for the Group in both
absolute and relative terms, against a peer group of large listed
airline companies for the six-year period from FY2008/09 to
FY2013/14.
Directors’ Fees
The Directors’ fees paid in FY2014/15 amounted to $1,544,727 [FY2013/14: $1,531,863] and were based on the following rates:
Rates ($)
Board Retainers Board Member 90,000
Chairman 225,000
Committee Retainers Chairman of Executive Committee and Audit Committee 60,000
Chairman of Safety & Risk Committee and Compensation and Industrial
Relations Committee 45,000
Member of Executive Committee and Audit Committee and Chairman of
Nominating Committee 35,000
Member of Safety and Risk Committee and Compensation and Industrial
Relations Committee 25,000
Member of Nominating Committee 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
Corporate
Governance Report
68 GOVERNANCE | Corporate Governance Report |