IGO Interactive Annual Report 2018

DIRECTORS’ REPORT—REMUNERATION REPORT 30 JUNE 2018 SECTION 4. NON-EXECUTIVE DIRECTOR REMUNERATION The remuneration of Non-executive Directors is determined by the Board within the maximum amount approved by shareholders in general meeting. Non-executive Directors are not entitled to retirement benefits other than statutory superannuation or other statutory required benefits. Non-executive Directors do not participate in share or bonus schemes designed for Executive Directors or employees. TOTAL REALISED EARNINGS Name Year Cash fees $ Superannuation $ Total $ Debra Bakker 1 2018 115,297 10,953 126,250 2017 59,776 5,679 65,455 Peter Bilbe 2018 215,373 20,460 235,833 2017 219,178 20,822 240,000 Peter Buck 2018 123,288 11,712 135,000 2017 123,288 11,712 135,000 Geoffrey Clifford 2018 121,385 11,532 132,917 2017 123,288 11,712 135,000 Keith Spence 2018 123,288 11,712 135,000 2017 123,288 11,712 135,000 Neil Warburton 2018 109,589 10,411 120,000 2017 109,589 10,411 120,000 Total non-executive director remuneration 2018 808,220 76,780 885,000 2017 758,407 72,048 830,455 1. Ms. Bakker was appointed a Non-executive Director effective 14 December 2016. The remuneration of Non-executive Directors is fixed to encourage impartiality, high ethical standards and independence on the Board. The available Non-executive Directors’ fees pool is $1,500,000 which was approved by shareholders at the Annual General Meeting on 16 December 2015, of which $885,000 was being utilised at 30 June 2018 (2017: $885,000). Non-executive Directors may provide additional consulting services to the Group, at a rate approved by the Board. No such amounts were paid to Directors during the current year. The Board resolved, for a third consecutive year, not to increase Non-executive Directors’ fees. There was market evidence to support an increase to the remuneration for the Chairman for FY19, however the Board resolved not to make any adjustment to the Chairman’s remuneration for FY19 Details of Non-executive Director fees are as follows: Approved 2019 30 June 2018 30 June 2017 Non Executive Director base fees Board Chairman 230,000 230,000 230,000 Board Member 120,000 120,000 120,000 Board Member Committee Fees Chair Audit Committee 15,000 15,000 15,000 Chair Remuneration Committee 15,000 15,000 15,000 Chair Sustainability and Risk Committee 15,000 15,000 15,000 Chair Nomination Committee 10,000 10,000 10,000 Committee Members Nil Nil Nil IGO ANNUAL REPORT 2018— 55