Sasol Integrated Report 2024 - Book - Page 144
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
BUSINESSES
ESG
DATA AND ASSURANCE / ADMINISTRATION
REMUNERATION REPORT
PART III: SECTION A – EXECUTIVE REMUNERATION POLICY (INCLUDING NEDs) continued
REMUNERATION – SECTION A continued
EXECUTIVE REMUNERATION
Clawback
and Malus
The Clawback and Malus policy applies to all awards made under the short-term and long-term incentive plans (award), to employees in Senior and Executive management positions (participants).
Company refers to the Sasol Group of Companies.
Clawback Policy
This policy refers to the recoupment, during a period of up to three years after the payment/
settlement of an award, from a current or former recipient of the award.
Trigger events for the Clawback policy include:
• the discovery of a Material misstatement resulting in an adjustment to the Company’s audited
accounts;
• the discovery that any information or the assessment of any performance condition(s) used to
determine an award was based on erroneous, inaccurate, or misleading information, and lead to
a Material error in the calculation of an award;
• any act of or omission by the participant which has directly or indirectly contributed to any
inaccuracy, error, or misleading information referred to in the paragraphs immediately above;
• the discovery of an event that occurred prior to award, vesting, or accrual that has led to the
censure of the Company by a regulatory authority or has had a Materially detrimental impact on
the reputation of the Company, which event was caused by or ought reasonably to have been
prevented by the participant;
• the discovery of an event that occurred prior to award, vesting, or accrual that amounted to a
Material failure of or error in risk management or financial management (which event was caused by
or ought reasonably to have been prevented by the participant); and/or
• the discovery of conduct that occurred prior to award, vesting, or accrual which, in the
reasonable opinion of the Committee, amounts to gross misconduct by the participant.
Malus Policy
This policy refers to the reduction and forfeiture in full or in part of an award before the relevant
vesting date or accrual date.
The Committee may exercise its discretion to determine that an award is subject to Malus as a result
of one or more of the following Trigger events, having been identified before the vesting or accrual
of an award:
• the Company financial statements having been Materially restated (other than a restatement
due to an appropriate change in accounting policy or to rectify a minor error);
• the discovery that any information or the assessment of any performance or other condition(s)
used to determine an award was based on erroneous, inaccurate, or misleading information,
and led to a Material error in the calculation of an award;
• the Company having suffered a Material downturn in its financial performance;
• the Company at any time suffered a Material failure or error in risk management or financial
management, (which failure or error was caused by or ought reasonably to have been prevented
by the participant);
• the Company having been censured by a regulatory authority, which censure was caused by or
ought reasonably to have been prevented by the participant;
• the Company suffered Material harm to its good name and reputation, which harm was caused
by or ought reasonably to have been prevented by the participant;
• the participant having deliberately misled the Company on the financial performance or position
of the Company;
• the participant’s actions having amounted to misconduct or poor work performance that did
not result in a termination of employment; and/or
• any other matter which, in the reasonable opinion of the Committee, is required to be
considered to comply with prevailing legal and/or regulatory requirements.
In addition, the Committee approved the Recovery of Erroneously Awarded Compensation Policy (Recovery Policy) which applies to Executive Directors and Prescribed Officers (Executive Officers). Where
the Company is required to prepare a Restatement due to material noncompliance with any financial reporting requirements, the provisions of the Recovery Policy will govern the recovery of erroneously
awarded compensation from Executive Officers. Where the provisions of the Recovery Policy are not triggered, the provisions of the Clawback and Malus Policy will apply.
The detailed policies are available on our website.
Employee
Wellbeing
Employee wellbeing services and programmes are available to all employees, executives and NEDs.
SASOL INTEGRATED REPORT 2024
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