SGX CEO package - variable only on positive side

Many people certainly envy and maybe even jealous of Mr Magnus Bocker's package. Well you need to pay well to attract talent ... and I guess the justification can only be answered by SGX shareholders ultimately.

What catch my attention is how SGX presented the information. First of all, SGX must be commended for the transparency, very detail description is given. However, something puzzles me. In describing the short-term incentive, SGX says 'Minimum varible bonus of S$933,000'. Literally, this means that Mr Magnus Bocker will get a minimum sum of S$933,000. Err ... if this is minimum sum, doesn't it mean that this S$933,000 is fix rather than variable? And if this is minimum, what is the maximum? Or at least what is the formula?

It is regrettable that SGX, as a role model to other listed companies, uses this type of confusing wordings.