REMUNERATION STRUCTURE
The remuneration structure comprises of guaranteed pay, short-
term incentives and long-term incentives, at the discretion of the
Board.
An appropriate remuneration mix is maintained between fixed
and variable performance-based remuneration, as well as between
short-term and long-term performance-based remuneration.
Guaranteed remuneration is reviewed annually against relevant
benchmarks.
REMUNERATION COMPOSITION
PERFORMANCE
AGAINST
STRETCHED
TARGETS
GUARANTEED
REMUNERATION
TARGET
BONUS PROFIT
SHARE
0 25 50 75 100 125 0 25 50 75 100 125
LONG-
TERM
INCENTIVE
STRATEGIC PERFORMERS
KEY PERFORMERS
PERFORMERS
AVERAGE PERFORMERS
%
0 25 50 75 100 125
0 0 25
25 50
50 75
75 100
100 125
125
SHORT-TERM INCENTIVES LONG-TERM INCENTIVES
Short-term incentives are paid in cash and are based on the
achievement of annual targets. The STI comprises of an on-
target bonus and profit share bonus where targets have been
met. It is designed to focus behaviour on important strategic
and business objectives. The criteria for short-term incentives
are based on the achievement of risk adjusted return targets. The purpose of long-term incentives is to reward employees who
have influence on the strategic performance of the business and
to align their interests with the interests of the shareholders. The
Remuneration Committee, at its discretion and based on the
recommendation of the Managing Director, selects participants
and determines the allocation of shares on an annual basis. The
shares are forfeitable and will vest after three years, subject to
certain retention and performance conditions.
Senwes INTEGRATED REPORT 2015
35