Purpose and description Calculation Eligibility Guaranteed pay Salary Fixed remuneration with consideration given to speci c requirements of the role. We follow the local market practice of total cost to company (TCTC) remuneration, which comprises a basic salary plus cash and non-cash bene ts. Guaranteed pay is reviewed annually and any increases are typically effective from June each year. Market conditions, group performance, internal comparability, individual experience, performance and level of responsibility within the organisation are taken into consideration and reviewed annually. All employees. Bene ts Bene ts and allowances appropriate to the market and contributing to the wellbeing of employees. Comprises a suite of competitive employee bene ts that vary across countries as per market practice. Examples include: • Bursaries for employees and families • Wellness bene ts such as onsite healthcare and counselling, a gym and a concierge service • Work-life balance leave • A closed medical aid scheme and retirement scheme with competitive bene ts • An early childhood development allowance and an onsite crèche • Discounts on DStv subscriptions for employees and up to three family members • Discounts on DStv Internet Not applicable All employees. STI Bonus/short-term incentive Annual performance-related incentives motivate executives to achieve short-term strategic, nancial and non- nancial objectives over a one-year performance period. This ensures remuneration is aligned with the annual business performance and to drive long-term shareholder value creation. Targets are set at a MultiChoice Group level and at segment/business unit/country level and applied to employees within these respective areas. The individual performance measures for each executive director are tailored to their roles and responsibilities, which lter down to the employees in those reporting lines. The incentive plan is agreed annually in advance and based on targets that are veri able and aligned with the speci c business unit’s annual business plan. All executive directors have an on-target bonus percentage which is used to calculate the bonus. The on-target bonus percentage will differ for employees according to their roles and responsibilities. The calculation to determine the performance outcome is detailed below: TCTC/base salary On-target bonus % | 80% Individual performance % | 0% to 110% Company performance % | 0% to 120% All employees subject to performance criteria. * Weighted equally between South Africa, Rest of Africa, Showmax and Insurance. x x x 2 The remuneration policy continued Corporate governance review Phuthuma Nathi Investments (RF) Limited Integrated annual report 2023 106 Remuneration report continued
RkJQdWJsaXNoZXIy MTAwNDEy