Table:
|  | CHAIR |  | MEMBER |  |
| --- | --- | --- | --- | --- |
|  | F19 FEE | F20 FEE | F19 FEE | F20 FEE |
| BOARD AND COMMITTEE FEES ($) | INCL. SUPER | INCL. SUPER | INCL. SUPER | INCL. SUPER |
| Board | $790,531 | $790,531 | $254,990 | $254,990 |
| Audit, Risk Management and Compliance Committee | $65,000 | $65,000 | $32,500 | $32,500 |
| People Performance Committee | $54,525 | $65,000 | $27,265 | $32,500 |
| Sustainability Committee | $45,000 | $65,000 | $22,500 | $32,500 |
| Nomination Committee | Nil | Nil | Nil | Nil |
Paragraphs:
Non‐executive Director fees are paid from an aggregate annual fee pool of $4,000,000, as approved by shareholders at the AGM on 18 November 2010. Total board and committee fees paid during F19 were $2,859,903 (refer to section 5.1).
Non‐executive Directors do not receive variable pay and no Directors’ fees are paid to Executive Directors.
In recognition of the equal importance and workload of all of the Board’s Committees, the Board reviewed Non‐executive Director fees and determined to increase Chair and Member fees for the People Performance Committee and Sustainability Committee as detailed in the table below, effective 1 July 2019. The table below provides a summary of F19 and F20 Board and Committee fees:
Question:
What is the value of the aggregate annual fee pool used to pay non-executive Director fees?
Answer: $4,000,000