IOOF  | Annual Report 2012 4.5 Remuneration table (1) Directors fees includes any fees sacrificed into superannuation funds. (2) Shares represent Directors’ fees sacrificed into the Non-Executive Director Deferred Share Purchase Plan. (3) Shareholder Approved Remuneration amounted to $844,523 and was within the shareholder approved limit of $980,000 per annum. (4) Non-Executive Directors appointed after 13 April 2003 are not entitled to retirement benefits. Non-Executive Directors appointed prior to this date accrue retirement  benefits. Where entitled, the provision is based on the average emoluments of Non-Executive Directors over the previous three years’ of service. The benefit accrues  after three years of service and varies according to the number of years of service, reaching twice the average annual emoluments after ten years of service. Mr Blair  retired during the year and was paid his retirement benefit entitlement of $406,244. Refer to ‘retirement benefits’ above for further details. page 39 Key management  personnel Short-term benefits Post-  employment  benefits Total Share-holder  approved  remuneration (3) Post-  employment  benefits Total Directors  fees (1) Shares (2) Non- monetary Superannuation Retirement  benefits (4) $ $ $ $ $ $ $ Current Non-Executive Directors I Griffiths 2012 128,827   -  - 11,594  140,421   - 140,421  2011 125,055   -  - 9,945  135,000   - 135,000  J Harvey 2012 118,738  12,000  139  9,579  140,456   - 140,456  2011 112 , 852 12,000  153  10,148  135,153   - 135,153  R Sexton 2012 121,629  24,355  139  11,133  157,256  18,554  175,810  2011 103,381  22,320  153  9,299  135,153  492  135,6 45  G Venardos 2012 128,731   -  - 11,586  140,317   - 140,317  2011 123, 861   -  - 11,139 135,000   - 135,000  K White 2012 93,633   -  - 8,427  102,060   - 102,060  Former Non-Executive Directors I Blair 2012 129,172  23,077  139  11,625  164,013  11,436  175,449  2011 160,562  30,000  153  14,438  205,153  64,101  269,254  J Pfeiffer 2011 92,310  41,857  153  833  135,153   - 135,153  Total 2012 720,730  59,432  417  63,944  844,523  29,990  874,513  2011 718,021  106,177  612  55,802  880,612  64,593  945,205 