118 Consolidated  Notes to the  Financial  Statements Note 47 – Key management personnel disclosures (continued)  Loans to key management personnel Other transactions with key management personnel and their personally related entities Note 48 – Defined benefit superannuation plans The consolidated entity also contributes to defined contribution superannuation plans for employees, which are also provided by these  plans. Contributions made to these defined contribution plans are expensed as incurred. On 29 June 2012, the consolidated entity acquired Loy Yang Power. A number of employees of this entity are members of a separate  defined benefit section of the Equipsuper Fund. The three plans are the SuperSolution Master Trust – AGL Division (SSMT), Equipsuper Fund (EF) and Electricity Industry Superannuation  Scheme (EISS).  The consolidated entity operates three superannuation plans that provide defined benefit amounts to employees or their dependants upon  retirement, resignation or death. The plans provide, in the majority of cases, benefits in the form of a lump sum based on the employee’s  years of service and final average salary. Contributions to the plans are predominantly based on a percentage of employees’ salaries and  wages. These defined benefit plans are all closed to new members. All new members receive accumulation benefits only. Transactions entered into during the year with key management personnel which are within normal employee, customer or supplier  relationships on terms and conditions no more favourable than dealings in the same circumstances on an arm’s length basis include: There are no loans between key management personnel and the consolidated entity. (a) Shares acquired under the AGL Share Purchase Plan in lieu of remuneration non-executive Directors and executives would have received. Beneficial interest held subject to the conditions of the Plan. (b) Shares issued as a result of participation in the AGL Dividend Reinvestment Plan. (c) Includes shares purchased and disposed in the ordinary course of trading on the ASX. (d) Mr Johnson retired as a Director on 21 October 2010 and the number of shares represent those held at the date of leaving office. (e) Mr Dimery resigned as an Executive on 27 September 2010 and the number of shares represent those held at the date of leaving office. > the receipt of dividends from AGL Energy Limited; > participation in the AGL Dividend Reinvestment Plan; > participation in the AGL Long-Term Incentive Plan and the AGL Share Purchase Plan; > reimbursement of expenses; and > purchase of goods and services. 2011  Ordinary shares Balance at 1 July  2010 AGL Share Purchase  Plan (a) Dividend Reinvestment  Plan (b) Received on vesting of  SPRs Net change other (c) Balance at 30 June  2011 Balance held  nominally Non-executive Directors Jeremy Maycock 45,620  303  –  –  9,702  55,625  –  Mark Johnson (d) 271,125  –  1,113  –  –  –  –  Les Hosking 2,000  –  –  –  –  2,000  –  Belinda Hutchinson –  –  –  –  6,540  6,540  –  Sandra McPhee 10,200  –  –  –  2,550  12,750  –  Max Ould 27,755  –  907  –  –  28,662  –  Bruce Phillips 29,000  –  –  –  –  29,000  –  John Stanhope –  –  –  –  –  –  –  Executive Directors Michael Fraser 370,474  –  –  149,391  –  519,865  –  Executives Jeff Dimery (e) 11,443  308  –  19,071  –  –  –  Anthony Fowler –  –  –  3,079  –  3,079  –  Ken Hodgson –  –  105  5,074  –  5,179  –  Paul McWilliams 3,751  –  –  7,282  –  11,033  –  Stephen Mikkelsen 18,240  –  –  24,750  (10,000) 32,990  –  Michael Moraza 12,972  –  –  10,948  –  23,920  – 