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45 ANNUAL REPORT 2011
for the year ended 30 June 2011
Directors’ Report continued
Remuneration Report (Audited) continued
Other Benets
Non-cash Benets Non-cash benets, as disclosed in the remuneration tables, include travel entitlements while employed
and other benets.
Travel Travel concessions are provided to permanent Qantas employees, consistent with practice in the airline
industry. Travel at concessionary prices is on a sub-load basis, i.e. subject to considerable restrictions
and limits on availability. It includes specied direct family members or parties.
In addition to this and consistent with practice in the airline industry, Directors and Key Management
Personnel and their specied direct family members or parties are entitled to a number of trips for
personal purposes at no cost to the individual.
Post-employment travel concessions are also available to all permanent Qantas employees who qualify
through retirement or redundancy. The CEO and Key Management Personnel and their specied direct
family members or parties are entitled to a number of free trips for personal purposes. An estimated
present value of these entitlements is accrued over the service period of the individual and is disclosed
as a post-employment benet.
Superannuation Superannuation includes statutory and salary sacrice superannuation contributions and the expense
to the company of dened benet superannuation entitlements. Superannuation is disclosed as a
Post-employment Benet.
Other Long-term Benets The accrual of long service leave is captured as “Other long-term Benets”.
Performance Share Plan
– Discontinued
The Performance Share Plan (PSP) was discontinued in . It was a medium-term deferred share
incentive plan that operated as follows:
— At the start of Year , the Qantas Board set performance targets for each Balanced Scorecard measure
— At the conclusion of Year , the Board assessed performance against each target and awarded
deferred shares to Executives if targets were achieved
— Any deferred shares awarded are subject to a vesting period which expires at the end of Year 
in relation to one-half of the shares and the end of Year  in relation to the other half of the shares
— Generally, any unvested deferred shares would be forfeited if the relevant Executive ceases
employment with the Qantas Group
The grant date and number of deferred shares awarded to Key Management Personnel are outlined
in Note  to the Financial Statements. The accounting expense relating to share grants is disclosed
in the remuneration table on page .
Share-based Payments
The following table provides a more detailed breakdown of the accounting expense of share-based payments to disclosed Executives.
$’ STIP LTIP PSP RPTOTAL
Executive
Director
Alan Joyce  ,   –,
 –    
Key Management Personnel
Bruce Buchanan     –
 –   – 
Gareth Evans     –
 – –
Rob Gurney     –
 –   – 
Simon Hickey     –
 –    
Jayne Hrdlicka  –––––
 n/a n/a n/a n/a n/a
Lyell Strambi    –
 –   – 
Other
Disclosed
Executive
Rob Kella     – 
 –   
Total  ,   –,
 –  ,  ,
. The Retention Plan involved awards of deferred shares to individuals whose roles and contribution were identied as critical to the continued success of the Qantas Group. Awards
under the Retention Plan involved awards of deferred shares with a service period of up to three years. Satisfactory performance, which involved achievement of personal KPIs, was
a further requirement under this plan. The number of shares held by KMPs under the Retention Plan are outlined in Note  to the Financial Statements. No awards were made under
the Retention Plan in / or /.
. A sign-on award of , shares was made to Mr Strambi on  March . The award operates in a similar manner to the PSP awards. Awards are subject to a ten-year holding lock.
However Mr Strambi can call for the shares from  January .