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2. Remuneration – audited (continued)

2.5 SLT remuneration disclosures in detail (continued)

Remuneration of SLT members for the year ended 30 June 2010

SHARE-BASED PAYMENTS  8

$'000

PERFORMANCE RELATED %

2010

Executive director

Patrick Snowball (from 1 September 2009) 1,148 52.6

Senior Executives

Roger Bell 5 336 66.5

Dharma Chandran (from 20 April 2010) 6 – –

Anthony Day (from 21 October 2009) 7 58 56.2

David Foster 342 59.4

Mark Milliner 354 59.6

John Nesbitt (from 3 May 2010) 103 61.8

Jeff Smith 356 60.8

Robert Stribling (from 4 January 2010) – 48.5

Geoff Summerhayes 205 57.4

1 Non‑monetary benefts costs met by the Suncorp Group for airfares and insurances. 2 Other short‑term benefts represent annual leave accrued during the year.

3 The amount of deferred STI awarded to Mr Snowball is discounted and amortised over the vesting period. 4 Other long‑term benefts represent long service leave accrued during the year.

5 Mr Bell is remunerated in New Zealand dollars, amounts are disclosed in Australian dollars.

6 Mr Chandran was seconded from Ernst & Young. Remuneration disclosed refects the fees paid to Ernst & Young. 7 Mr Day became a member of the SLT on 21 October 2009. Remuneration disclosed relates only to his period in offce.

8 Equity‑settled performance rights issued as LTI to SLT members are expensed to the income statement based on their fair value at grant date over the period from grant date to vesting date. For cash‑settled performance rights, the fair value is remeasured at year end with changes in fair value recognised as an expense. The fair value was assessed using a Monte Carlo model and refects the fact that an individual’s entitlement to the shares is dependent on relative TSR performance. The assumptions underpinning these valuations are set out in note 12 to the fnancial statements.

Directors’ Report (continued)