Angela Hall, Leader-PostPublished: Tuesday, July 08, 2008
Some top executives at Saskatchewan's Crown corporations had bigger paydays in 2007 as a new compensation plan took effect.
While some benefited from base salary adjustments, many high-ranking officials also earned performance-based incentives that, in a handful of cases, topped $40,000.
SaskTel president and CEO Robert Watson was among those at the highest-paid end of the list, with 2007 remuneration of $295,051 -- about $61,000 more than in 2006, based on data released by the government Monday.
In addition, Watson received a $45,811 incentive in early 2008 -- the highest amount among the 48 executives who received such a bonus based on their work in 2007.
The numbers reflect an overhaul of the Crown executive compensation plan in December 2006, when the then-NDP government cited a need to retain and attract senior executives.
The new pay package for senior officials meant an average salary increase of 5.5 per cent. Also introduced were new "short-term incentives" that, at the top end, allows some CEOs to earn a bonus of up to 16 per cent of their salary annually.
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