text: **26. Specified Director and Specified Executive Disclosures (continued)**
  
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              [html]<thead><tr><td>26. Specified Director and Specified Executive Disclosures ( continued )</td></tr></thead><tbody><tr><td>( c ) Remuneration of Specified Directors and Specified Executives ( continued )</td></tr><tr><td>Senior Executives</td></tr><tr><td>Remuneration Objectives and Principles</td></tr><tr><td>The objectives of the Company ’ s remonenstion policy are to attract, retain and motivate appropriately qualified and experienced executives capable of discharging their respective responsibilities to enable the Company to achieve i</td></tr><tr><td>The principles anderlying the remarestion policy are : to realistically effect : the responsibilities of executives and other employees ; to be induction, ompertifies and resonable ; that a significant prifers of researchers be at thin</td></tr><tr><td>Remuneration Structure</td></tr><tr><td>The Company ' s remuneration structure for 1b non - ward employees is based upon Target Total Remuneration (“ TRT ”), the components of which comprise :</td></tr><tr><td>• a fixed component called Fixed Annual Remuneration (“ FAR ”); and</td></tr><tr><td>two variable components, called :</td></tr><tr><td>• the Short Term Incentive (“ STI ”) and</td></tr><tr><td>• the Long Term Incentive (“ LTT ”).</td></tr><tr><td>FAR comprises salary, superanuation and benefits ; is quantified by reference to role and experience ; and is industry benchnaried.</td></tr><tr><td>STE is represented as a percentage of lase remorestion which Is “ it risk ”, consists of an amoal cash banus paid to reward performance based on a mix of : Company performance and Individual performance measured against amound aspirint amoa</td></tr><tr><td>LTI in elation to executive remareation includes a long - term performance based component in the form of equity participation through the Sartiss Grecutive Strare ( Strion Pare (“ 2007 ”) and the Sartiss Ensplayer Share Parchose Plan (“ P</td></tr><tr><td>Options and rights to shares ‘ suaed under these Plans to serior executives are linked to the longer term performance of the Gompany and areanly exercisable following the satisfaction of performance hardles that are designed to maximish</td></tr><tr><td>The ansunt of the award, and comespondingly the proportion of remuneration at risk, varies between executives according to their respective levels of serionity and responsibility.</td></tr><tr><td>The rules of the SESPP and SESOP were both approved by shareholders in 1997 and again in 2000.</td></tr><tr><td>Roving repard to contenporary best practice, the LT3 program is designed to drive superior executive performance and to reward only superior Company performance, ( rinked to an appropriate performance benchmank. The benchmank assese</td></tr><tr><td>Company performance is researcher a free year period based in the Company. Teal Standide Research *[ TR ] incline to one or comparator groups as determined by the Band at the commercement of the performance period including, whichout limb</td></tr><tr><td>St relation to the current financial yes, awards may be balen only in the form of share parsuant to SESPP or, at the election of an executive, options possuant to SESRP, details of which are decribed in rates 30 ( 3 ) and 30 ( 3 ) of the financial st</td></tr><tr><td>Rigitis to shares and options are ported at no cost to the executives with the number of shares awarded being determined by dividing the amount of the award by the volume weighted average price of the Company ’ s shores over the five bushess da</td></tr><tr><td>The exercise price of the options is the volume weighted average price of the Company ' s shares over the five business days up to and including the award date.</td></tr><tr><td>The Board riterods that LOT awards be made on an annual backs using a three year measurement period for the applicable performance hurdles. Alwaver, the Board reserves the right to susperal or modify the DT, program in fight of circumstand</td></tr><tr><td>The maintean number of shares that may be load under all. of the Company ’ s executive and employee share and option plans cannot exceed the Timit of 5 % of the issued captul, as approved by shareholders at the 2000 Amoad General Meeting.</td></tr></tbody>
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