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## Remuneration of directors and executives 

## Directors pay 

Currently, remuneration is based on industry standards and set to attract quali fi  ed and experienced directors. The Board takes advice on industry remuneration standards through consultation with external agents. Non-executive directors’ fees are determined within an aggregate directors’ fee pool limit approved by shareholders, which currently stands at $215,000. Remuneration of directors is not linked to the Company’s performance. All fees paid are inclusive of Board committee fees. 

## Executive Pay 

Executive remuneration is based on industry standards and set to attract quali fi  ed and experienced executives. The Board takes advice on industry remuneration standards through consultation with external agents The executive pay has three components: 

• Base pay and bene fi  ts 

• Short and long term performance incentives through participation in the St Barbara Employee Option plan 

• Other remuneration such as superannuation 

The incentive component of speci fi  ed executive’s remuneration is linked to the Company’s performance. 

The Remuneration Committee meets annually to review directors’ fees, senior executive salary packages and salary ranges for the organisation 

Details of the nature and amount of each element of the emoluments of each director of St Barbara and the executive of fi  cers of the Company and of the consolidated entity receiving them are set out in the following tables: 

## Non-Executive Directors of St Barbara Mines Limited 

<img src='content_image/100068.jpg'>

Mr Dundo is also a director of subsidiary company NuStar Mining Corporation Limited and his remuneration includes $50,000 fees and $4,500 superannuation recovered from NuStar. Mr Dundo resigned as a director of St Barbara Mines Limited on 18 July 2004. 

(ii) Mr Tuten has declined to receive directors’ fees or other remuneration. 

(iii) Mr Wheatley was appointed on 28 November 2003. 

In accordance with the Company’s constitution, Mr Wheatley is due for re-election at the 2004 Annual General Meeting. There is no agreement with individual non-executive directors specifying a term on engagement. 

There were no loans to directors of entities in the consolidated entity during the year to 30 June 2004. 

## Executive Directors of St Barbara Mines Limited 

<img src='content_image/100067.jpg'>

