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Directors’ ReportFor the year ended 30 June 2009postemploymentbenefitsLong Share-based ProportionSuper- Service payments: Termination of total Value ofannuation Leave (6) options (3) payments Total performance options as$ $ $ $ $ related % of total13,129 – – – 154,999 – –6,606 – – – 80,001 – –6,606 – – – 80,001 – –6,606 – – – 80,001 – –1,505 – – – 18,223 – –– – – – – – –34,452 – – – 413,22513,129 28,353 103,404 – 908,980 13.8% 11.4%13,129 – – – 412,222 2.4% –13,129 4,707 273,358 – 702,787 10.3% 38.9%12,072 7,465 – – 350,718 6.4% –13,129 9,421 – – 325,043 19.5% –13,129 5,835 – – 290,557 11.2% –77,717 55,781 376,762 – 2,990,307stbarbara.com.au – Annual Report 2009: 37
DIRECTORS’ REPORTFor the year ended 30 June 2009Remuneration report cont.B Details of remuneration cont.(ii) Cash bonuses included in remuneration (short term incentive)The table below provides the percentage of fixed remuneration which senior executives did earn under the short termincentive (STI), based on relevant performance measures having been met.% of % of% of maximum maximumActual STI maximum potential potentialincluded in “Target” STI total STI total STI2009 Maximum potential STI remuneration earned earned foregoneTarget Stretch $T J Lehany 133,333 (1) 266,667 (1) 120,000 90% 30% 70%E Eshuys 1,330,000 (2) – 480,000 36% 36% 64%M Reed 50,000 (1) 100,000 (1) 42,780 41% 29% 71%G Campbell-Cowan 154,000 308,000 154,000 50% 33% 67%A McArthur 100,000 200,000 85,000 60% 28% 72%R Kennedy 120,000 180,000 120,000 44% 40% 60%(1) Applied pro-rata for period of employment.(2) Amount of $1,330,000 covers both potential maximum Target and Stretch STIs in aggregate.Target performance represents challenging but achievable levels of performance. The performance measures are split 50/50between Company and individual executive performance measures, and comprise financial and non-financial measures. Theindividual performance measures vary depending on the individual executive’s position.Stretch performance requires significant performance above and beyond normal expectations and if achieved is anticipatedto result in a substantial improvement in key operational areas, financial results, and/or the financial position of the Company.The tier 2 performance measures are also split 50/50 between Company and individual executive performance measures.Amounts included in remuneration as actual cash STI for the financial year represent the amounts accrued in relation to the2009 financial year, based on achievement of the specified performance criteria. No additional amounts vest in future yearsin respect of the bonus schemes for the 2009 financial year.Short term incentives paid in respect of the 2009 financial year reflected achievement of some Company performancemeasures and some individual performance areas. Achieved Company measures comprised improved safety performance(classified Injury Frequency Rate decreased from 16 to 6) and the achievement of significant cost reductions.Individual performance measures achieved reflected value accretive and/or risk mitigation achievements for the benefitof the Company and Shareholders.(iii) Payments made to Mr E Eshuys on ceasing employment with the CompanyMr Eshuys, the former Managing Director & CEO, ceased employment with the Company on 2 March 2009. In accordancewith the terms of his employment contract, Mr Eshuys received a termination payment of 12 months fixed remunerationwhich equated to $825,000, and a payment for unpaid fixed remuneration for the balance of his contract to 31 December2009, amounting to $688,500. Mr Eshuys also received payments for other entitlements and accrued benefits as follows:• Pro-rata STI and related performance – $480,000 as detailed in the table under (ii) above.• Accrued leave – $154,294 representing all remaining annual leave and pro-rated long service leave due to Mr Eshuys atthe time his employment ceased, calculated at the fixed remuneration rate.No share-based compensation was granted to Mr Eshuys during the year.Applicable taxation was deducted from the above payments.Under the terms of a consultancy contract which commenced on 3 March 2009, Mr Eshuys is providing consulting servicesto the Company for a minimum fee of $10,000 per month. The agreement expires on 2 March 2010. Either party mayterminate the agreement by giving one month’s notice.38
Page 1 and 2: INSTRUCTIONSTURN PAGESby clicking t
Page 3 and 4: Vision statementTo be a successful
Page 5 and 6: Highlights for Fiscal YEAR 2009Prod
Page 7 and 8: CEO’s ReportThe 2010 fiscalyear w
Page 9 and 10: OperationsLEONORA• Gwalia mine co
Page 11 and 12: Operations continuedSouthern Cross
Page 13 and 14: ExplorationDrilling established hig
Page 15 and 16: Environment, Safety andSocial Respo
Page 17 and 18: Ore Reserves & Mineral ResourcesSta
Page 19 and 20: Finance• Revenue up 96%to $281 mi
Page 21 and 22: Finance continuedDuring the year th
Page 23 and 24: Corporate GovernanceCorporate Gover
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Directors’ DeclarationIn the Dire
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INDEPENDENT AUDIT REPORTFor the yea
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Shareholder InformationFor the year
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Corporate DirectoryBoard of Directo
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Studio Periscope 2009 All Rights Re
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