content_image/176982.jpg
## Note 47 – Key management personnel disclosures (continued) 

<img src='content_image/176982.jpg'>

(a) Shares acquired under the AGL Share Purchase Plan in lieu of remuneration non-executive Directors and executives would have received. Beneficial interest held subject to the conditions of the Plan. 

(b) Shares issued as a result of participation in the AGL Dividend Reinvestment Plan. 

(c) Includes shares purchased and disposed in the ordinary course of trading on the ASX. 

(d) Mr Johnson retired as a Director on 21 October 2010 and the number of shares represent those held at the date of leaving office. 

(e) Mr Dimery resigned as an Executive on 27 September 2010 and the number of shares represent those held at the date of leaving office. 

## Loans to key management personnel 

There are no loans between key management personnel and the consolidated entity. 

## Other transactions with key management personnel and their personally related entities 

Transactions entered into during the year with key management personnel which are within normal employee, customer or supplier relationships on terms and conditions no more favourable than dealings in the same circumstances on an arm’s length basis include: 

> the receipt of dividends from AGL Energy Limited; 

> participation in the AGL Dividend Reinvestment Plan; 

> participation in the AGL Long-Term Incentive Plan and the AGL Share Purchase Plan; 

> reimbursement of expenses; and 

> purchase of goods and services. 

## Note 48 – Defined benefit superannuation plans 

The consolidated entity operates three superannuation plans that provide defined benefit amounts to employees or their dependants upon retirement, resignation or death. The plans provide, in the majority of cases, benefits in the form of a lump sum based on the employee’s years of service and final average salary. Contributions to the plans are predominantly based on a percentage of employees’ salaries and wages. These defined benefit plans are all closed to new members. All new members receive accumulation benefits only. 

The three plans are the SuperSolution Master Trust – AGL Division (SSMT), Equipsuper Fund (EF) and Electricity Industry Superannuation Scheme (EISS). 

On 29 June 2012, the consolidated entity acquired Loy Yang Power. A number of employees of this entity are members of a separate defined benefit section of the Equipsuper Fund. 

The consolidated entity also contributes to defined contribution superannuation plans for employees, which are also provided by these plans. Contributions made to these defined contribution plans are expensed as incurred. 

