CSL Ltd Annual Report 2019

8.2 NED fees in 2019 The following table provides details of current Board and Committee fees from 1 July 2018 and those fees that take effect 1 July 2019 following an external review of fees paid by ASX Top 12 companies. To ensure market competitive fees, the Board approved an average increase to NED fees of 1.9%. Adjustments to fees were within the existing aggregate fee pool approved by shareholders in 2016. The Board considers that sufficient headroom remains within the existing fee pool. Committee fees are not payable to the Chairman or to members of the Securities & Market Disclosure Committee. Table 15: NED Fees 2019 and 2020 2019 Fees 2020 Fees Total Adjustment % Board Chairman Fee A$782,500 A$798,000 2.0% Board NED Base Fee A$227,500 A$232,050 2.0% Committee Fees Committee Chair Committee Member Committee Chair Committee Member Committee Chair Committee Member Audit & Risk Management A$64,550 A$31,750 A$65,800 A$32,400 1.9% 2.0% Corporate Governance & Nomination A$28,000 A$14,000 A$28,500 A$14,300 1.8% 2.1% Human Resources & Remuneration A$54,000 A$28,000 A$55,000 A$28,500 1.9% 1.8% Innovation & Development A$54,000 A$28,000 A$55,000 A$28,500 1.9% 1.8% Effective 1 July 2019, a travel allowance of A$15,000 per annum has been introduced for those NEDs who reside outside of Australia and travel to and from Australia to attend Board and Committee meetings. 8.3 Other Transactions No loans were made to NEDs during 2019. NEDs and their related entities conducted the following transactions with CSL, as part of a normal supplier relationship on ‘arm’s length’ terms: • CSL has entered into a number of contracts, including collaborative research agreements, with Monash University, of which Dr Megan Clark AC is a member of Council; • Financial services provided by Bank of America Merrill Lynch of which Dr Megan Clark AC is a member of the Australian Advisory Board; • CSL has entered into a research collaboration with the Centre of Eye Research Australia, of which Dr Andrew Cuthbertson AO is a director; • CSL has entered into a number of contracts, including collaborative research agreements, with the Walter and Eliza Hall Institute for Medical Research (WEHI), of which Ms Marie McDonald is a director; • CSL has entered into a research collaboration with the Baker Heart and Diabetes Institute, of which Ms Christine O’Reilly is a Director; • CSL has a corporate account with Medibank Private Limited, of which Christine O’Reilly is a director; • CSL has entered into a research collaboration with Frazier Healthcare, of which Dr Tadataka Yamada KBE is a partner; and • CSL has a commercial relationship to acquire laboratory supplies from Agilent Technologies, of which Dr Tadataka Yamada KBE is a Director. During 2019, CSL completed two on-market purchases of shares for the purposes of the NED Share Plan and NED Rights Plan. A total of 1,245 shares were purchased during the reporting period and the average price paid per share was A$193.63. CSL Limited Annual Report 2019 84 Directors' Report