Qantas 2002 Annual Report Download - page 33

Return (TSR) ranking amongst the top 100 listed Australian companies and also against the TSRs of a predetermined basket of
international airlines. The incentives which vest under this Plan are not included in remuneration until they become payable.
Entitlements over unissued ordinary shares in Qantas are also issued to Executive Directors and other senior executives under the
Qantas Long-Term Executive Incentive Plan introduced in the 1999/2000 financial year (refer “Share Entitlements” on page 32).
In addition, the service contracts of certain Executive Directors and senior executives provide for the payment of a bonus
on the completion of five years’ service. This bonus is payable when the Executive Director or senior executive ceases
employment with the Qantas Group and is included in remuneration at that time.
Non-Executive Directors do not receive any performance-related remuneration.
Details of the nature and amount of each major element of the emoluments of each Director of Qantas and each of the
five named current officers of Qantas and the Qantas Group receiving the highest emoluments are set out below. Details
of executives who departed during the year and whose remuneration fell in the top five highest paid executives have also
been disclosed.
Non-Cash Superannuation Retirement
Fees 1Benefits 2Contributions Benefits Total
Non-Executive Directors $ $ $ $ $
Margaret Jackson 280,000 73,684 8,803 – 362,487
Mike Codd 98,000 46,838 7,840 – 152,678
Trevor Eastwood 91,000 19,113 7,280 – 117,393
Rod Eddington327,821 – 2,226 – 30,047
Jim Kennedy 98,000 13,070 7,840 – 118,910
Trevor Kennedy 70,000 37,318 5,600 – 112,918
Roger Maynard380,500 539 6,440 – 87,479
John Rishton3–– –– –
John Schubert 80,500 10,894 6,440 – 97,834
Nick Tait391,000 5,598 7,280 – 103,878
Fixed Annual Performance Non-Cash Termination
Remuneration 4Bonus Benefit 2, 6 Payments Total
Executive Directors $ $ $ $ $
Geoff Dixon 1,426,500 1,000,000 30,405 – 2,456,905
Peter Gregg 720,000 672,000 28,778 – 1,420,778
Executive Officers (excluding Directors)
Qantas and Qantas Group
Current executives
Paul Edwards 546,014 431,000 47,206 – 1,024,220
John Borghetti 546,014 431,000 40,923 – 1,017,937
David Forsyth 575,000 431,000 6,143 – 1,012,143
Grant Fenn 477,452 398,000 46,565 – 922,017
Denis Adams 460,000 345,000 27,000 – 832,000
Former executives
James Strong5118,875 – 57,298 3,479,065 3,655,238
David Burden 191,666 – 64,092 1,630,379 1,886,137
Stephen Mann 248,008 188,000 67,823 842,102 1,345,933
George Elsey 116,068 – 32,134 1,024,217 1,172,419
1Fees comprise both Directors’ fees and Committee fees.
2Non-cash benefits include car parking, and travel and accommodation discounts obtained from time to time by Directors and executives, some of
which are through agreements entered into by the Qantas Group. Travel benefits are available on similar terms and conditions as those offered to
other senior executives and employees of the Qantas Group. The amount of non-cash benefits disclosed above has been determined on a “cost to
the company” basis.
3Directors’ fees for British Airways Directors of Qantas are paid directly to British Airways Plc except for Nick Tait, whose Director’s fees were paid
directly to him from 18 August 2001.
4Fixed annual remuneration includes base salary, motor vehicle allowance and salary sacrifice superannuation contributions.
5James Strong retired as a Director on 5 March 2001. As Mr Strong remained an employee of Qantas until 31 July 2001, the remuneration disclosed
above represents the total amount paid to Mr Strong for the full financial year ended 30 June 2002.
6The amounts disclosed above do not include bonus shares or share entitlements awarded to Qantas employees as described on page 32.
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