• Welcome to Guerdon Associates’ November 2006 newsletter.
• Stop Press - CEO 2006 Pay Increases
• How Risky Is CEO Pay?
• Top 10 Increases – Did They Earn It?
• Major Changes To ASX Good Governance Principles
• ASX Governance Council Requires Evaluation Of Directors And Senior Executives
• ASX Governance Council Removes Remuneration Disclosure Recommendation
• ASX Governance Council Recommendation Requires That Many Companies Change Their Remuneration Committee
• ASX Governance Council Changes Catch Hedging Of Executive Options
• ASX Governance Council Removes Guideline For Disclosure Of Non-Executive Director Retirement Benefits
• ASX Council Unsure On Senior Executive Equity Pay
• ASX Governance Council And ASX Not Sure Where To Go On Director Equity
• Judge Rules Against Grasso
• Healthy CEO Pay Inspires New Revelation Of Director Interest Conflict
• Latest GuerdonData® Updates
• Guerdon Associates In The News

• Welcome to Guerdon Associates’ October 2006 newsletter.
• Trimming the Hedges: Company Policies on LTI Hedging
• Deferring Bonus For Shares – Well Worth Considering
• Remuneration Committees With The CEO As A Member
• Chairman of the Remuneration Committee? Now What?
• Remuneration Committee Checklist
• National Accounts Data Indicates Employees Getting More Than Cash
• Super Not So Duper for Expats
• Tax on Termination Payments
• Simplified Superannuation Contribution Rules
• Latest GuerdonData® Updates
• Guerdon Associates In The News

• Welcome to Guerdon Associates’ September 2006 newsletter.
• Non-Executive Chairmen – Do They Have A Stake In Their Companies?
• Does Board Chairman Share Ownership Relate To Company Performance?
• Board Chairman Remuneration Trends – Take Care With Those Statistics
• Where’s the passion? Latest on remuneration disclosure changes
• Earnings results suggest a wild ride for executive pay
• Director Share Ownership – Is It Time For The Rules To Change?
• Remuneration abuse and whistleblowers
• Latest GuerdonData® Updates
• Guerdon Associates In The News

• Welcome to Guerdon Associates’ August 2006 newsletter.
• Remuneration Disclosure Changes - Hedging Your Bets, And More
• US Catching Up To Australia On Disclosures
• Here’s A Thought
• Searching Offshore For A CEO? Now The Near Impossible Is Only Just Hard Work
• Option Fair Market Value – This May Be An Alternative That Reduces The Impact On Your Bottom Line
• Option Expensing Errors A Big Deal
• Springloaded Options? We Thought You Would Never Ask
• Australian Companies’ Potential For Moving the Goal Posts With Executive Rewards – Directors Should Watch Out!
• Executive Loans For Oz Companies With US Ambitions – Forget It!
• Latest GuerdonData® Updates
• Guerdon Associates In The News

• Happy new financial year to most Australian subscribers, and welcome to Guerdon Associates’ July 2006 newsletter.
• Is There A Relationship Between CEO Share Ownership and Performance?
• Government Report Tells Investors to Amend Pay For Corporate Social Responsibility
• The Problems With Relative TSR Performance Measures – Directors Should Watch For Risk
• Remuneration Consultants – The Good, The Bad, And The Ugly
• Toward More Rational Executive Remuneration
• Update: Federal Budget proposed superannuation changes – transitional issues
• Latest GuerdonData® Updates
• Guerdon Associates in the News

• Welcome to Guerdon Associates’ June 2006 newsletter.
• Internationalising The Board? Pay Levels Not The Issue For Big Aussies
• Remuneration Reports and Disclosure – Government To Change Requirements (Again!)
• Federal Budget – Opportunity or Pandora’s Box?
• Disney, Ovitz, and Australian Board Governance
• Option Backdating – Australian Directors Should Keep An Eye Out For This One
• Australian Multinationals With Global Share Plans Could Be Ensnared By Eurocracy
• Director Time for Value Added?
• IFRS, Re-stating Results, and Bonuses
• Latest GuerdonData® Updates
• Guerdon Associates in the News

• Welcome to Guerdon Associates’ May 2006 newsletter.
• The Components of “Termism”
• Tenure
• Reward Focus - A Bird In The Hand Is A Bit Like A STI…
• Effort, Luck and Value
• Short Term Vs. Long Term Results
• Optimising Shareholder Returns Can Never Be An Outcome of Boilerplate Pay
• The Devil Made Me Do It
• Latest GuerdonData™ Updates
• Guerdon Associates in the News

• Welcome to Guerdon Associates’ April 2006 newsletter.
• Directors’ Fees – Larger Companies Skew Data
• But What Does The Average Director Earn From All Boards?
• Factors Still Driving NED Fee Increases
• The End of Good Ol’ Days Of Director Benefits
• When freezing of director retirement allowances put some companies on thin ice – how frozen is “frozen”?
• How much should fees be adjusted?
• Superannuation Now For NEDs
• The structure of NED remuneration (main board and committee fees)
• Participation on subsidiary boards
• Latest GuerdonData™ Updates
• Guerdon Associates in the News

• Non Executive Chairman Pay Increases On The Conservative Side
• Executives Taking a Stake. Private Equity Firms Will Be An Influence On Pay In Australia.
• Disclosure Compliance – Please Get The Numbers Right!
• Everything’s Relative – Just Why Does It Have To Be TSR!?
• Latest GuerdonData™ Updates
• Guerdon Associates in the News

• Global Remuneration Disclosure Standards – Australia Leads The World (For Now!)
• But Will Behaviour Change From Better Disclosure? Don’t Bet On It.
• Don’t Get Comfortable Just Yet – International Accounting Standards Now Require Australian Companies To Disclose Differently
• ASIC In A Rush On Remuneration Disclosures Too
• Relative Performance Comparisons
• CFO Remuneration – Or How Life Is Too Short!
• Latest GuerdonData™ Updates
• Guerdon Associates in the News