text: **SENIOR EXECUTIVES**
  **(a) Remuneration Objectives**
  
  STI is represented as a percentage 
  of base remuneration which is “at 
  risk”. The STI consists of an 
  annual cash bonus paid to reward 
  performance based on a mix of 
  Company performance and 
  individual performance measured 
  against annual scorecards with 
  target and stretch performance 
  criteria determined in advance 
  each year. 
  
  **and Principles**
  
  The objectives of the Company’s 
  remuneration policy are to attract, 
  retain and motivate appropriately 
  qualified and experienced 
  executives capable of discharging 
  their respective responsibilities to 
  enable the Company to achieve its 
  business strategy. 
  
  Mr J C Ellice-Flint has an 
  executive service agreement with 
  the Company which continues 
  until terminated by either party in 
  accordance with the agreement. 
  Termination arrangements relating 
  to the Managing Director were 
  agreed in advance of his 
  appointment, and those relating 
  to the equity component of his 
  remuneration were notified at the 
  time of the appointment. 
  
  LTI: in relation to executive 
  remuneration includes a long term 
  performance based component in 
  the form of equity participation 
  through the Santos Executive 
  Share Option Plan (SESOP) and 
  the Santos Employee Share 
  Purchase Plan (SESPP). 
  Participation is determined by the 
  Board, on recommendation of the 
  Remuneration Committee, and 
  only applies to executives who are 