Consolidated Annual Financial Statements
NOTES TO THE CONSOLIDATED ANNUAL FINANCIAL STATEMENTS for the year ended 31 December 2010 (continued) 2010 R’000 19
REMUNERATION OF EXECUTIVE AND SENIOR MANAGEMENT (CONTINUED)
19.2
Exceptional Payments During the year, the following exceptional payments, i.e. in excess of R249 999, were made to members of the Executive and other senior management. Exceptional payments, as defined for this purpose in terms of the Higher Education Act, include the commutation of leave, special bonuses and exceptional amounts arising on termination of employment with the University. Unless they are recurrent in nature, exceptional payments do not constitute part of the annualised gross remuneration disclosed in 19.1 above.
20
Title and name
Nature of payment
Mr R H Clarkson
Commutation of leave in anticipation of retirement
588
Professor NM Mazibuko
Commutation of leave on retirement
295
Professor AW Sturm
Commutation of leave on retirement
521
Professor AW Sturm
Occupational Specific Dispensation – arrear salary adjustment
281
EXCEPTIONAL REMUNERATION-RELATED PAYMENTS During the year, the following exceptional payments, i.e. in excess of R249 999, were made to employees other than executive and senior management. Exceptional payments, as defined for this purpose in terms of the Higher Education Act, include the commutation of leave, special bonuses and exceptional amounts arising on termination of employment with the University. Unless they are recurrent in nature, exceptional payments do not constitute part of the annualised gross remuneration of the respective employees. Title and name
Nature of payment
Professor J Aboobaker
Commutation of leave on retirement
470
Professor N Adhikira
Commutation of leave on retirement
513
Mr R A Bailey
Severance package
823
Professor M J F Chapman
Commutation of leave on retirement
325
Professor D L Mkhize
Commutation of leave on retirement
342
Professor J Moori
Commutation of leave on retirement
302
Professor J G Mowatt
Commutation of leave on retirement
311
Mr N S Ragoobeer
Severance package
268
Professor B S Rigby
Additional earnings
320
Ms P N Sapepa
Severance package
709
Professor B S Stobie
Commutation of leave on retirement
280
University of KwaZulu-Natal Annual Report 2010
128