Origin Energy 2015 AGM - termination benefits scheme resolution
Aside from the shareholder requisitioned resolution on the AGM agenda, there is also a resolution asking shareholders to approve a termination benefits scheme to apply to persons who hold a managerial or executive office currently or in the future. Approving this type of resolution means the Corporations Act 2001 (Cth) limit on termination benefits won't apply to a number of remuneration items, including the deferred STI awards, payments in lieu of notice and unvested LTI awards which are not forfeited when employment ceases. I explain these resolutions in this general note (VIEW LINK) As always the timing of these resolutions - when they appear on the agenda - is important...not only as to why include it on this year's AGM agenda rather than wait to next year, but also how shareholders might react to it in light of the FY15 results
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With a background in human resources, executive search and corporate law, Kym Sheehan brings unique perspectives on corporate governance and meeting resolutions to her work for The Executive Remuneration Reporter. The Executive Remuneration...
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