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THE QANTAS GROUP 46
for the year ended 30 June 2011
Directors’ Report continued
Performance Related Remuneration
Performance Remuneration Affecting Future Periods
The fair value of share-based payments granted is amortised over the service period and therefore remuneration in respect of these awards
may be reported in future years. The following table summarises the maximum value of these awards in future years, assuming all performance
conditions are met. The minimum value of these awards is nil, should performance conditions not be satised.
Executives

$’

$’

$’
Alan Joyce , , 
Bruce Buchanan   
Gareth Evans   
Rob Gurney   
Simon Hickey   
Jayne Hrdlicka   
Lyell Strambi   
Rob Kella – – –
STIP Awards – Vesting and Forfeiture
/ STIP awards to participants are subject to a one-year restriction period for  per cent of any award, and a two-year restriction
period for the remaining  per cent of the award.
No awards under the STIP vested during /.
LTIP awards – Vesting and Forfeiture
Awards of Rights under the LTIP may vest and convert to Qantas shares subject to the achievement of long-term performance hurdles.
Any Rights that do not achieve the performance hurdles will lapse.
In / there was nil vesting and nil forfeiture under the  Performance Rights Plan (granted on  May ), the - LTIP
(granted on  September ) and - LTIP (granted on  August  and on  October ).
Number of Rights Awarded, Vested and Exercised in /

AwardedVested Exercised
Alan Joyce ,, – –
Bruce Buchanan , – –
Gareth Evans , – –
Rob Gurney , – –
Simon Hickey , – –
Jayne Hrdlicka – – –
Lyell Strambi , – –
Rob Kella , – –
. , Rights were granted on  August  and ,, Rights were granted on  October  with a nil exercise price. The weighted average fair value
of the Rights award was $..
. The number of Rights exercised represents the number of vested Rights called for by the Executive during the year.
Performance Share Plan (Discontinued) – Vesting and Forfeiture
PSP awards to participants are subject to a one-year minimum holding lock period for  per cent of any award and a two-year minimum
holding lock for the remaining  per cent of the award.
Awards to participants under the  Performance Share Plan (granted on  August ) had  per cent vesting during /
and nil forfeiture.
Awards to participants under the / Performance Share Plan (granted on  March ) had % vesting and nil forfeiture during
/.
Qantas Code of Conduct & Ethics – Employee Share Trading Policy
Qantas Code of Conduct & Ethics – Employee Share Trading Policy prohibits all employees from dealing in Qantas securities while
in possession of Material Non-Public Information.
The policy further prohibits Nominated Qantas Employees from dealing in securities of Qantas (or any Qantas Group listed entity)
during dened blackout periods and requires written approval to deal in Qantas securities at other times.
These Nominated Qantas Employees are also prohibited from hedging or entering into any margin lending arrangement, or entering
other encumbrances over the securities of Qantas (or any Qantas Group listed entity).
Remuneration Report (Audited) continued