Executive compensation and contracts

  Explanation CEO Vice Presidents
Base Compensation

(A)

This is the base salary paid to the executive annually. $667,875 VP 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 – $266,000
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) – $722,875 VP 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) – $301,000

Additional information

  Explanation CEO Vice Presidents
Auto Allowance An annual allowance is provided to offset the costs of business related transportation. $14,000 annually No VPs have auto allowances.
Retirement Compensation Arrangement A 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 annually No VPs have retirement compensation arrangements
Severance Severance is only provided upon termination of employment without cause. There are no voluntary resignation allowances. 18 months VP 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
Parking Executives pay for parking consistent with staff rates. Parking is paid by executive at rates charged for all staff Parking 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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