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Whitehaven Coal Limited : Annual Report 2012
Whitehaven Coal Limited -- Annual Report 2012 61 7.6.2 Current fee levels and fee pool Shareholders approved an increase to the total aggregate maximum amount of Non-executive Directors' remuneration to $2,500,000 per annum at Whitehaven's Extraordinary General Meeting held on 16 April 2012. The significant increase to the fee pool was sought to accommodate increases to Non-executive Director fees to align with the Company's increased size and scope of operations, and the increase in the number of Non-executive Directors on the Board. As described in section 7.3 above, Egan Associates were engaged in FY2012 to provide guidance and recommendations on the appropriate remuneration arrangements for the merged entity. An increase to the Non-executive Directors' fees, based on the recommendation of Egan Associates, came into effect on 1 May 2012. The table below sets out the Board and committee fees in Australian dollars as at 30 June 2012. Chairman Deputy Chairman Member Board $350,000* $262,500* $140,000 Audit & Risk Management Committee $40,000 -- $20,000 Remuneration Committee $25,000 -- $12,500 Governance & Nominations Committee No fee -- No fee Health, Safety, Environment & Community Committee $25,000 -- $12,500 * This is a composite fee. The Chairman and Deputy Chairman of the Board receive no standing committee fees in addition to their Board fees. The fees set out above are exclusive of mandatory statutory superannuation contributions made on behalf of the Non-executive Directors.
Annual Report 2011
Annual Report 2013