2015-16 SaskEnergy Annual Report

Most Board members sit on two Committees. There were 13 Board meetings and 34 Committee meetings this reporting period. The total remuneration paid to Directors (annual retainers, pro-rated for the portion of the reporting period each Director was a member of or chaired a Committee, plus Committee per diems) was $479,922 + compared to $404,644** in 2014. The total business travel and meeting expenses ++ paid to members of the Board were $21,621 + compared to $29,519** in 2014. +  This amount was for the 15-month reporting period of January 1, 2015 to March 31, 2016, to coincide with the fiscal year-end change. The fiscal year-end was changed to March 31. ++  The Corporation implemented fiscal restraint measures in 2015. ** The 2014 amount was for a 12-month period from January 1, 2014 to December 31, 2014.

Board and Director Performance Assessment To ensure adequate Board renewal, the Governance Committee conducts annual performance reviews for the Board, Committees, Chairs and individual Directors. It surveys the Directors to obtain feedback on the effectiveness and contribution of the Board, Committees, Chairs and individual Directors on a rotational, biannual basis. Assessments by the Committee include a skills matrix to ensure the Board possesses the requisite experience, expertise and business and operational insight for effective stewardship of the Corporation. Assessments also consider diversity and representation of women on the Board and its Committees, and proactively identifying potential female candidates. These results are summarized and reported to the Board as well as to the CIC Board. The Governance Committee may utilize the assistance of an external consultant to conduct the survey task. This year, the process consisted of a Directors survey on the performance and effectiveness of Committee Chairs and peers. Director Remuneration Compensation received by Directors is fixed by CIC under the Crown Corporations Act, 1993 . The Governance Committee has authority to recommend to the Board (and the Board to CIC) adjustments to such compensation. The Audit and Finance Committee receives quarterly reports respecting the remuneration of Directors and reports any anomalies to the Board. The Committee reviews the annual payee disclosure report that includes total remuneration paid to Directors. Directors are paid an annual retainer for their services on SaskEnergy’s Board, as well as a set per diem fee for travel time and attendance at Committee and Board meetings as follows:

• Chair of the Board: annual retainer of $40,000;

• Other Directors: annual retainer of $25,000;

• Chair of Audit and Finance Committee: annual retainer of $3,500;

• Chairs of other Committees: annual retainer of $2,500;

• Committee members: $750 per day meeting fee; and

• Directors also receive reimbursement for their reasonable out-of-pocket expenses including travel, meals and accommodations while performing their duties.


Corporate Governance

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