Wellcom_FY11-Financial-Report

Year ended 30 june 2011 key management personnel all

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Unformatted text preview: the board for key management personnel for the years ended 30 June 2011 and 30 June 2010 are included below The management incentive scheme represents the only portion of KMP remuneration which relates to performance. Year ended 30 June 2011 Key management personnel All key management personnel, other than Executive Directors, shall be entitled to the following: • • • An amount not exceeding 50% of their total remuneration package. This is calculated on the achievement of several performance criteria including: (1) the overall financial performance of the Group; (2) the financial performance of individual responsibility centres; and (3) performance based on quantative and qualitative measures not connected to individual profit centres. The incentive shall be paid by way of either cash or shares, the method of payment is at the entire discretion of the board. Any incentive payments due shall only be paid following the release of the full year’s results for the Group to the ASX in relation to that financial year. The following management incentives were approved by the board in relation to the year ended 30 June 2011: Year ended 30 June 2011 Remuneration package Performance 1 September criteria 1 2010 Performance criteria 2 Pe...
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