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APN
annual report
2011
remuneration report
APN News & Media Limited and Controlled Entities
F: Non-executive Director Remuneration
Approach to determining NED fees
Fees and payments to non-executive Directors reflect the demands which are made on, and the responsibilities of, the Directors. The
Remuneration Committee has responsibility for reviewing and recommending the level of remuneration for non-executive Directors in
relation to Board and Committee duties.
Approved fee pool
The maximum amount approved by shareholders is $750,000 per annum.
Retirement benefits
Non-executive Directors may receive retirement benefits in accordance with the Company’s Constitution and the
Corporations Act 2001
.
Fees paid to non-executive Directors of APN News and Media Limited during 2011 (and comparatives)
Short term benefits
Post employment
benefits
Total
Cash salary
and fees
$
STI
$
Non-monetary
benefits
$
Superannuation
$
$
Amounts paid by APN News & Media Limited
AE Harris
2011
150,000
–
–
–
150,000
2010
150,000
–
–
–
150,000
PP Cody
2011
68,808
–
–
6,192
75,000
2010
68,807
–
–
6,193
75,000
PM Cosgrove
2011
17,234
–
–
49,766
67,000
2010
61,468
–
–
5,532
67,000
EJ Harvey
2011
70,337
–
–
6,330
76,667
2010
–
–
–
–
–
KJ Luscombe
2011
90,000
–
–
–
90,000
2010
90,000
–
–
–
90,000
JH Maasland
2011
87,156
–
–
7,844
95,000
2010
87,156
–
–
7,844
95,000
AC O’Reilly
2011
–
–
–
–
–
2010
68,807
–
–
6,193
75,000
Total 2011
483,535
–
–
70,132
553,667
Total 2010
526,238
–
–
25,762
552,000
Amounts paid by subsidiaries of APN News & Media Limited
PM Cosgrove – Chairman’s fee Buspak Hong Kong
2011
7,462
–
–
–
7,462
2010
8,402
–
–
–
8,402
Total 2011
490,997
–
–
70,132
561,129
Total 2010
534,640
–
–
25,762
560,402
Directors not specified in the above table received no remuneration.
Consistent with previous years, certain Directors affiliated with Independent News and Media PLC do not receive Directors’ fees from
the Company.
Refer note 27 to the financial statements for details of related party transactions.