McPHERSON’S LIMITED
ANNUAL REPORT 2015
31
Performance based remuneration granted and forfeited during the year
The following table shows for each KMP how much of their 2015 STI cash bonus was awarded and how much was forfeited. The table also shows
the value of performance rights granted during the year.
NAME
STI CASH BONUS
1
LTI PERFORMANCE RIGHTS
TOTAL
OPPORTUNITY $
AWARDED %
FORFEITED %
VALUE
GRANTED $
VALUE
EXERCISED $
VALUE
FORFEITED $
Executive Director of McPherson’s
P.J. Maguire
295,000
-
100
217,952
-
-
Other key management personnel of the Group
S.K.S. Chan
232,644
-
100
-
-
-
G.P. Mitchell
149,223
-
100
-
-
-
C. J. Muir
141,050
-
100
43,368
-
-
P. Witheridge
177,500
-
100
52,264
-
-
1. The STI bonus amounts disclosed above relate only to the regular annual STI bonuses plan.
Separate to the above, during the year the following bonus payments were made to KMP in relation to the achievement of a number of
restructuring related objectives, including achieving the divestment of 51% of the Group’s Housewares business.
2015
$
Executive Director of McPherson’s
P.J. Maguire
275,000
Other key management personnel of the Group
C. J. Muir
1
27,389
P. Witheridge
1
165,000
1. Bonus amount received as a combination of cash payment and superannuation contribution.
Contractual arrangements for executive KMP
Remuneration and other terms of employment for the Managing Director and other key management personnel are formalised in employment
agreements. Each of these agreements set out details of the base package amount, usually inclusive of superannuation and motor vehicle benefits,
and provide for performance related cash bonuses and other benefits. The agreements also provide for participation, when eligible, in the
McPherson’s Limited Employee Share/Option Purchase Plan and Performance Rights Plan.
The agreements do not normally reflect a fixed term of employment or nominate a specified amount to be paid on termination of employment. The
agreements normally provide that the termination notice period may be paid out by the Company. Termination benefits are within the limits set by
the
Corporations Act 2001 such that they do not require shareholder approval.