Executive compensation and contracts

 ExplanationCEOVice Presidents
Base Compensation

(A)

This is the base salary paid to the executive annually.$667,875VP Medical Services & Chief of Staff – $390,000
VP Research & Chair – $365,000
VP Education & Director, Centre for Education – $309,750
EVP Clinical Programs & Chief Nursing Executive – $290,000
EVP Corporate Services and Chief Human Resources Officer – $277,640
VP Innovation & Chief Technology Officer and Interim Director CC-ABHI – $266,000
VP Finance and Chief Financial Officer – $242,000
Compensation At Risk (8% to 15%)

(B)

Each year 8% to 15% of the executive’s compensation is considered to be at risk and is held and measured against achievement of goals and objectives.8% ($55,000)VP Medical Services & Chief of Staff – $35,000 (9%)
VP Research & Chair – $35,000 (9%)
VP Education & Director, Centre for Education – $35,000 (11%)
EVP Clinical Programs & Chief Nursing Executive – $35,000 (12%)
EVP Corporate Services and Chief Human Resources Officer – $35,000 (13%)
VP Innovation & Chief Technology Officer and Interim Director CC-ABHI – $35,000 (13%)
VP Finance and Chief Financial Officer – $35,000 (14%)
Total Maximal Compensation

(A) + (B) = (C)

Compensation is determined in accordance with the Executive Compensation Strategy. This amount includes base compensation plus the compensation at risk.President & CEO (Dr. William Reichman) – $722,875VP Medical Services & Chief of Staff (Dr. Gary Naglie) – $425,000
VP Research & Chair (Dr. Allison Sekuler) – $400,000
VP Education & Director, Centre for Education (Dr. David Conn)- $344,000
EVP Clinical Programs & Chief Nursing Executive (Carol Anderson)- $325,000
EVP Corporate Services and Chief Human Resources Officer (Joni Kent) – $312,640
VP Innovation & Chief Technology Officer and Interim Director CC-ABHI (Ronald Riesenbach) $301,000
VP Finance and Chief Financial Officer (Brian Mackie) – $277,000

Additional information

 ExplanationCEOVice Presidents
Auto AllowanceAn annual allowance is provided to offset the costs of business related transportation.$14,000 annuallyNo VPs have auto allowances.
Retirement Compensation ArrangementA Retirement Compensation Arrangement is a useful recruitment tool when someone is recruited from outside the jurisdiction and has not accumulated Ontario Healthcare service.$30,000 annuallyNo VPs have retirement compensation arrangements
SeveranceSeverance is only provided upon termination of employment without cause. There are no voluntary resignation allowances.18 monthsVP Medical Services & Chief of Staff – 18 months
VP Research & Chair – 18 months
VP Education & Director, Centre for Education – 18 months
EVP Clinical Programs & Chief Nursing Executive – 18 months
EVP Corporate Services and Chief Human Resources Officer – 18 months
VP Innovation & Chief Technology Officer and Interim Director CC-ABHI – 12 months
VP Finance and Chief Financial Officer – 12 months
ParkingExecutives pay for parking consistent with staff rates.Parking is paid by executive at rates charged for all staffParking is paid by executive at rates charged for all staff

Notes:

The compensation figures provided in this compensation overview may not align with figures provided each year through the Ministry of Finance salary disclosure. These amounts differ as a result of a number of factors:

  1. Annual salary disclosure is based on a January 1 to December 31 calendar year. Baycrest’s compensation program is based an April 1 to March 31 fiscal year.
  2. In some fiscal years, there may be one additional pay period, depending on the overall payroll cycle.
  3. The amount of the at-risk compensation is based on performance and may not be the same from year to year.

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