Meeting Summary

Human Resources Committee - August 15, 2017

2018 Real Estate Compensation Plan Design

The Mandate of the Human Resources Committee requires the Committee to approve all compensation plans affecting any executive-level employees. Management sought the HR Committee’s approval of the design of the new Real Estate Total Compensation Plan.

Following a question and discussion period, the Human Resources Committee approved the Real Estate Compensation Plan.

Enterprise Succession Management

The Mandate of the Human Resources Committee requires that the Committee review the Enterprise Succession Management report and approve the succession plans for the C-Suite to ensure such plans are established and adequately maintained. The Committee reviewed the proposed report and following a discussion approved the C-Suite succession approach.

Long-Term Incentive Plan Market Review - Termination Clauses

Management provided the Human Resources Committee with a comparison conducted of OMERS Long-Term Incentive Plan (LTIP) termination clauses and LTIP structure against peer pension plans/pension funds under three termination scenarios: retirement, termination without cause and termination with cause.

Management advised the Committee that OMERS LTIP treatment under the three termination scenarios generally aligned with peer organizations, except for how OMERS defines retirement. Management recommended a change to better align its plan with its peers.

Following a question/discussion period, the Human Resources Committee approved the recommended update.