Remuneration

Stockland's remuneration approach is designed to attract, motivate, reward and retain the best people. Employee remuneration is linked to performance and aligns annual incentive payments to securityholder interests via business outcomes such as total securityholder returns, profit growth and stakeholder engagement.

Setting executive remuneration policies is viewed by the Board as one of its most important responsibilities. The Board has thoroughly reviewed Stockland's remuneration framework for FY10 and found it to be robust across the business cycle. For the second year in a row Board fees and senior executive salaries have been frozen.

Non-Executive Directors Remuneration	Board and committee fees	Superannuation	Total remuneration
Non - Executive Directors
Mr GRAHAM BRADLEY
2009	365,250	32,873	398,123
2008	365,250	32,873	398,123
Mr NICHOLAS GREINER
2009	232,500	20,925	253,425
2008	232,500	20,925	253,425
Mr DUNCAN BOYLE
2009	166,351	14,972	181,323
2008	143,599	12,924	156,523
Mr BRUCE CORLETT (retired October 2008)
2009	55,512	4,546	60,058
2008	166,350	14,972	181,322
Ms LYN GEARING (resigned December 2008)
2009	95,450	8,591	104,041
2008	235,900	21,231	257,131
Ms CAROLYN HEWSON (appointed March 2009)
2009	57,300	5,157	62,457
2008	–	–	–
Mr BARRY NEIL
2009	150,500	13,545	164,045
2008	131,832	11,865	143,697
Mr PETER SCOTT
2009	188,119	16,931	205,050
2008	200,000	18,000	218,000
Mr TERRY WILLIAMSON
2009	209,700	18,873	228,573
2008	207,150	18,644	225,794

Executive Remuneration	Fixed Pay	Short-term incentives Superannuation	Share-based payments and other long-term benefits	Termination benefits	Total remuneration
Executive Directors
Mr MATTHEW QUINN
2009	1,808,073	1,235,000	13,745	324,861	–	3,381,679
2008	1,914,824	1,700,000	13,129	1,519,966	–	5,147,919
Mr HUGH THORBURN
2009	1,022,635	550,000	13,795	115,605	–	1,702,035
2008	1,005,316	825,000	13,078	642,669	–	2,486,063
Senior Executives
Mr DENIS HICKEY (left July 2009)
2009	1,104,529	470,000	13,745	202,373	1,070,000	2,860,647
2008	1,157,766	875,000	13,129	507,121	–	2,553,016
Mr JOHN SCHRODER
2009	1,034,531	536,000	13,745	91,522	–	1,675,798
2008	1,006,574	875,000	13,129	417,578	–	2,312,281
Mr KEN LINDSAY
2009	681,052	325,146	129,842	117,248	–	1,253,288
2008	570,837	572,242	100,603	257,627	–	1,501,310
Ms RILLA MOORE
2009	433,503	220,000	13,745	102,100	–	769,348
2008	461,100	350,000	13,129	206,388	–	1,030,617
Mr DAVID PITMAN
2009	454,138	183,000	13,745	86,187	–	737,070
2008	489,880	300,000	13,129	98,513	–	901,522
Ms KARYN MUNSIE (commenced September 2008)
2009	296,155	110,000	11,102	–	–	417,257
2008	–	–	–	–	–	–
Ms JOHANNA KEATING (left December 2008)
2009	173,317	–	6,495	54,684	380,000	614,496
2008	396,600	210,000	13,129	157,592	–	777,321

This is an excerpt from the Remuneration Report contained in the FY09 Financial Report available online at www.stockland.com.au.

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Stockland

Shareholder Review 2009

Remuneration

Non-Executive Directors Remuneration

Board and committee fees

Superannuation

Total remuneration

Executive Remuneration

Fixed Pay

Short-term incentives Superannuation

Share-based payments and other long-term benefits

Termination benefits

Total remuneration