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## 4.5 Remuneration table 

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(1) Directors fees includes any fees sacrificed into superannuation funds. 

(2) Shares represent Directors’ fees sacrificed into the Non-Executive Director Deferred Share Purchase Plan. 

(3) Shareholder Approved Remuneration amounted to $844,523 and was within the shareholder approved limit of $980,000 per annum. 

(4) Non-Executive Directors appointed after 13 April 2003 are not entitled to retirement benefits. Non-Executive Directors appointed prior to this date accrue retirement benefits. Where entitled, the provision is based on the average emoluments of Non-Executive Directors over the previous three years’ of service. The benefit accrues after three years of service and varies according to the number of years of service, reaching twice the average annual emoluments after ten years of service. Mr Blair retired during the year and was paid his retirement benefit entitlement of $406,244. Refer to ‘retirement benefits’ above for further details. 

