Annual Financial Statements for the year ended 30 June 2021 0 - Book - Page 38
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2
3
4
SASOL LIMITED GROUP
Report of the Remuneration Committee continued
Annual NED fees: actual vs approved vs proposed:
Non-SA-domiciled fees
Actual fees2, 6, 7
Board
Audit Committee
Remuneration
Committee
Capital Investment
Committee
Nomination and
Governance Committee
Safety, Social and Ethics
Committee
Other Committees14
Lead Independent
Director
Travel allowance – Less
than 10 hours travel4
Travel allowance –
Between 10 and 15 hours
travel⁴
Travel allowance – More
than 15 hours travel⁴
Special purpose
ad hoc Committees –
per meeting⁵
SA-domiciled fees
Actual fees2, 6
Proposed Chairman fees
202212, 13
UK, Europe, North
Proposed Board
America
member fees 202212, 13
Member
Domiciled
in UK,
Europe,
North
America
Domiciled
outside
UK,
Europe,
North
America
Domiciled
in UK,
Europe,
North
America
Domiciled
outside
UK,
Europe,
North
America
$112 00010
$20 000
$12 000
$345 000
$35 000
$24 000
$285 000
$30 000
$20 000
$120 000
$24 000
$14 500
$100 000
$20 000
$12 000
Chairman
Approved
fees1, 2
Board
member
Approved
fees2, 3
Chair
Member
Chair
$445 000
$25 000
$20 000
$150 000
$20 000
$12 000
–
–
–
$138 000
$31 050
$23 575
$351 805
$25 000
$20 000
$16 000
$11 000
$42 550
$21 275
–
$11 000
$24 000
$20 000
$14 500
$12 000
$16 000
$11 000
–
$21 275
–
$11 000
$24 000
$20 000
$14 500
$12 000
$16 000
$11 000
$42 550
$21 275
–
$11 000
$24 000
$20 000
$14 500
$12 000
$16 000
–
$11 000
$40 000
–
–
$21 275
$60 375
–
–
$11 000
–
$24 000
–
$20 000
–
$14 500
$48 000
$12 000
$40 000
–
$5 000
–
–
–
–
–
n/a
–
n/a
–
$10 000
–
–
–
–
–
n/a
–
n/a
–
$15 000
–
–
–
–
–
n/a
–
n/a
$2 000
$2 000
$2 000
$2 000
$2 000
$2 000
–
–
–
–
8, 11
9
1.
Chairman of the board fee, inclusive of all fees payable for attendance or membership of board Committees and directorship of the company.
2.
Fees including VAT were intended for a phased implementation over the period 2018 – 2021.
3.
For the fee structure applicable from 16 November 2018 for non-SA-resident NEDs, the following rules apply: where the total prior year fees inclusive of
VAT (on a like-for-like basis) are higher than the new structure, the previous fee will be retained to ensure that the NED is not financially worse off with the
implementation of the new fee structure. Therefore, these fees are still higher than the fees paid to SA domiciled NEDs.
4.
Travel allowance was intended for implementation when international travel is required but never implemented.
5.
Special ad hoc committees approved by the Board to provide oversight over strategic matters of a temporary nature.
6.
Fee sacrifice agreed on board fees as per 18 November 2020 SENS announcement.
7.
VAT is not applicable. NEDs who were appointed on the 2016 approved fee structure, whose fees would be negatively impacted by the 2018 fees, were
grandfathered.
8.
Fee sacrifice applied. Approved fee incl VAT is $172,500.
9.
Fee sacrifice applied. Approved fee incl VAT is $445,000.
10. Fee sacrifice applied. Approved fee incl VAT is $140,000.
11.
Board fee for non-SA-domiciled members who joined the Board from 1 April 2020 is $142,500 incl VAT with the 20% sacrifice applied.
12. Fees to be tabled for approval by shareholders at the November 2021 AGM and effective from 1 January 2022. Fees stated exclusive of VAT for consistent
reporting purposes. A COL factor applied to the NED fees for directors domiciled outside of Europe, UK and North America. A fixed exchange rate will be
applied when converted for payment to the relevant currency. An annual inflationary linked increase to be applied after 12 months.
13. Where NEDs are required to travel to a meeting location, associated travel and accommodation costs are covered by Sasol.
14. Other Committees will be paid on a quarterly basis for any Committee meetings approved by the Board but not specified in this table.
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Sasol Annual Financial Statements 2021