GuerdonNews® Special Edition

21 February 2012

Dear [FIRSTNAME],

Welcome to this special news alert from GuerdonNews®

Australian government to legislate again on executive pay

Exactly eight months after the Australian government last legislated on executive pay, it has announced further legislative changes.

The Parliamentary Secretary to the Treasurer, David Bradbury, announced the government changes this afternoon. Mr Bradbury will be the keynote speaker at the Remuneration Forum to be held in Sydney on the afternoon of March 5.

Additional disclosures will be required on:

• Clawback;
• Remuneration governance;
• Termination and post termination payments and entitlements;
• Dividends received on unvested shares; and
• For each key management personnel, crystallised past pay, present pay and future pay

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The information, analysis and opinion in this e-mail and attachments are intended to be for informational purposes only. Analyses are based on information taken from public documents or private surveys, and we do not represent to its accuracy. Guerdon Associates assumes no liability for the use or interpretation of information contained herein. This publication is provided 'as is' without warranty of any kind, either expressed or implied, including, but not limited to, the implied warranties of marketability, fitness for a particular purpose, or non-infringement of third party rights.

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