AWB Limited - 2004 Annual Report

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2004
24. DIRECTOR AND EXECUTIVE DISCLOSURES (continued)
(a) Remuneration of specified directors and specified executives by the consolidated entity (continued)
The following tables provides the details of all directors of the company (specified directors) and the five or more executives of the consolidated
entity with the greatest authority (specified executives) and the nature and amount of the elements of their remuneration for the year ended 30
September 2004:
PRIMARY
POST EMPLOYMENT
Long–term
Superannuation
Salary and fees incentive 1 Other 2 benefits Total
$ $ $ $ $
Specified directors
Non–Executive
Brendan Stewart (Chairman) 186,507 – – 16,786 203,293
Robert Barry (Deputy Chairman) 96,639 – – 7,693 104,332
Steve Chamarette 40,065 – – 10,016 50,081
(appointed 11 March 2004)
Brendan Fitzgerald 50,145 – – 29,120 79,265
Laurie Marshall 30,000 – – 2,700 32,700
(resigned 11 March 2004)
Xavier Martin 72,720 – – 6,545 79,265
Warrick McClelland 31,706 – – 47,559 79,265
Christopher Moffet 72,720 – – 6,545 79,265
Peter Polson 91,854 – – 8,267 100,121
Kerry Sanderson 72,720 – – 6,545 79,265
John Simpson 72,720 – – 6,545 79,265
John Thame 72,720 – – 6,545 79,265
Executive
Andrew Lindberg (Managing Director) 783,293 402,167 304,566 105,159 1,595,185
Total, all specified directors 1,673,809 402,167 304,566 260,025 2,640,567
1 A long-term incentive plan for the Managing Director was established in the 2002 financial year, whereby the Managing Director was given the
opportunity to receive cash incentives by participating in the plan. Under the plan, notional performance rights are issued to the Managing
Director. The terms and conditions of the plan are consistent with the Performance Rights Plan except that the benefit is delivered in cash. The fair
value of the notional performance rights is calculated at each reporting date using a Black–Scholes model and allocated to each reporting period
evenly over the period from grant date to vesting date. The value disclosed above is the portion of the fair value of all the notional performance
rights that have been granted.
On 30 May 2002, a total of 107,692 notional performance rights were issued. The performance period for these rights commenced on 1 October
2004 and ends on 1 October 2006.
On 1 October 2002, a further 125,641 notional performance rights were issued. The performance period for these rights commences on 1
October 2005 and ends on 1 October 2007.
On 1 October 2003, a further 142,450 notional performance rights were issued. The performance period for these rights commences on 1
October 2006 and ends on 1 October 2008.
2 “Other” remuneration includes an amount paid on renewal of Mr Lindberg's contract and an amount paid as part of sign–on fee from his previous
contract. It also includes motor vehicle allowances subject to fringe benefits tax.
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