directors’ report on the Financial Report of Transurban City Link Limited and Controlled Entity. The remuneration packages of executives include a base salary,  superannuation and annual performance related incentives. The package is reviewed annually by the Nomination and Remuneration Committee. The base salary reflects the size of the job and level of skill and experience of the individual. The annual incentive is based on performance goals set at the start of the year. The following table shows remuneration details for the most highly remunerated executive officers of the Company: Base Salary Bonus Superannuation Options Total Name and Position $ $ $ $ $  B Bourke  - General Manager, Customer Services & Marketing 178,622 90,000 21,378 229,783 519,783 K Daley -Executive General Manager, Operations 216,667 45,000 17,333 229,783 508,783 P O’Shea - General Counsel 195,062 38,000 13,249 196,957 443,268 K Reynolds -General Manager, Construction 167,556 34,000 12,449 196,957 410,962 C Tizi - Chief Information Officer 184,184 - 14,735 196,957 395,876 The amounts disclosed above for remuneration relating to options is the assessed fair values of options at the date they were granted to executive officers during the year ended 30 June 2001. A methodology to precisely value an option which is both subject to an exercise condition and capable of exercise on multiple dates is not available. A value for the options has been inferred from the values of similar options for which explicit valuation methodologies are available. Factors taken into account include the exercise price, the term of the option, the current price and expected price volatility of the underlying Stapled Security and the expected dividend yield.  In addition to the above amounts, the following table sets out amounts which have been accrued in respect of payments to which the executive officers are entitled as a consequence of the completion of construction. 32