Telstra 2003 Annual Report Download - page 38

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P.36
directors’ report
Emoluments for board members and senior executives
Non-executive directors’remuneration
Telstra directors are remunerated in accordance with the
company’s constitution which provides for the aggregate limit
for directors’ fees to be set and varied by approval of a resolution
at the annual general meeting of shareholders. The constitution
of the company provides that the board shall determine the
allocation of fees among the directors within the pool limit.
The current pool approved by shareholders is $1,150,000. Directors
are required to take at least 20% of their fees in shares which
are purchased on market.
Directors receive reimbursement for reasonable travelling,
accommodation and other expenses incurred in travelling to or
from meetings of the board or committees or when otherwise
engaged on the business of the company in accordance with board
policy. Telstra also provides directors with telecommunications and
other services and equipment to assist directors in performing their
duties. From time to time, Telstra also makes products and services
available to directors without charge to allow directors to familiarise
themselves with the company’s products and services and recent
technological developments. To the extent the company considers
that this provides a personal benefit to a director, this is included in
the “other benefits” column in the table below.
Other
Base fee DirectShare benefits(1) Total
Name Position $$$$
Robert C Mansfield Chairman 197,374 53,333 24,000 274,707
John T Ralph Deputy Chairman 106,667 26,667 6,340 139,674
Samuel H Chisholm(2) Director ––––
Anthony J Clark Director 65,252 17,667 11,481 94,400
John E Fletcher Director 55,440 10,600 11,150 77,190
Belinda J Hutchinson Director 60,905 15,949 11,582 88,436
Catherine B Livingstone Director 56,221 15,000 11,133 82,354
Charles Macek Director 65,252 17,667 10,696 93,615
Donald G McGauchie(3) Director 49,976 22,000 63,518 135,494
William A Owens(4) Director 66,000 24,000 50,691 140,691
John W Stocker Director 55,203 48,531 8,540 112,274
(1) Other benefits include superannuation, the value of the personal use of products and services, and fees for services other than as a director.
(2) Fee declined by director.
(3) Other benefits include $50,000 for chairing the Telstra Country Wide Advisory Board. This fee is for services other than as a director.
(4) Mr Owens, a US based director, received management consultancy fees (paid in US dollars). This fee is for services other than as a director.