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ANNUAL REPORT 2010

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Note 24. Auditors’ Remuneration

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note 23. key management personnel

(a) Details of Key Management Personnel

(i) Directors

Mr Rick Crabb - Chairman (Non-executive)

Mr John Borshoff - Managing Director/CEO

Mr Sean Llewelyn - Director (Non-executive)

Mr Ian Noble - Director (Non-executive)

Mr Donald Shumka - Director (Non-executive)

(ii) Executives

Ms Gillian Swaby - Company Secretary

Mr Mark Bolton - Acting Chief Financial Officer (Appointed 1 November 2008; Resigned 13 November 2009)

Mr Garry Korte - Chief Financial Officer (Appointed 16 November 2009)

Mr Wyatt Buck - Executive General Manager – Production

Mr Dustin Garrow - Executive General Manager – Marketing

Mr Simon Solomons - Executive General Manager – Operations Development

(b) Compensation of Key Management Personnel: compensation by category

	CONSOLIDATED
	2010 US$’000	2009 US$’000
Short-term	4,672	4,156
Post employment	624	108
Share-based payment	4,185	3,948
	9,481	8,212

Average exchange rate used for year to 30 June 2010, US$1 = AU$1.13652 (2009 US$1 = AU$1.36035).

(c) Option Holdings of Key Management Personnel (Consolidated and Parent Entity)

30-Jun-10	1-Jul-09	Granted as renumeration	Options exercised	Net change other	30-Jun-10	Vested/ exercisable	Not vested/ not exercisable
Directors
Mr John Borshoff	2,750,000	-	-	-	2,750,000	-	2,750,000
Executives
Ms Gillian Swaby	333,785	-	-	-	333,785	-	333,785
Mr Wyatt Buck	351,533	-	-	-	351,533	-	351,533
Mr Dustin Garrow	344,769	-	-	-	344,769	-	344,769
Mr Simon Solomons	600,000	-	-	-	600,000	-	600,000
Total	4,380,087	-	-	-	4,380,087	-	4,380,087

No other Key Management Personnel held options during the year ended 30 June 2010.

30-Jun-09	1-Jul-08	Granted as renumeration	Options exercised	Net change other	30-Jun-10	Vested/ exercisable	Not vested/ not exercisable
Directors
Mr John Borshoff	2,750,000	-	-	-	2,750,000	-	2,750,000
Executives
Ms Gillian Swaby	333,785	-	-	-	333,785	-	333,785
Mr Ron Chamberlain	136,245	-	-	(136,245)#	-	-	-
Mr Wyatt Buck	1,351,533	-	(310,000)	(690,000)	351,533	-	351,533
Mr Dustin Garrow	944,769	-	(600,000)	-	344,769	-	344,769
Mr Simon Solomons	600,000	-	-	-	600,000	-	600,000
Mr Ross Glossop	450,000	-	-	(450,000)#	-	-	-
Total	6,566,332	-	(910,000)	(1,276,245)	4,380,087	-	4,380,087

# Forfeited on resignation of employee

No other Key Management Personnel held options during the year ended 30 June 2009.

(d) Share Rights Holdings of Key Management Personnel (Consolidated and Parent Entity)

30-Jun-10	1-Jul-09	Granted as renumeration	Vested as Shares	30-Jun-10
Directors
Mr John Borshoff	-	300,000	-	300,000
Executives
Ms Gillian Swaby	-	180,000	-	180,000
Mr Garry Korte	-	90,000	-	90,000
Mr Dustin Garrow	-	200,000	-	200,000
Mr Wyatt Buck	-	160,000	-	160,000
Mr Simon Solomons	-	120,000	-	120,000
Total	-	1,050,000	-	1,050,000

No other Key Management Personnel held share rights during the year ended 30 June 2010.

(e) Shareholdings of Key Management Personnel (Consolidated and Parent Entity)

Shares held in Paladin Energy Ltd (number)

30-Jun-10	Balance 1 July 2009	On Exercise of Options	Net Change Other	Balance 30 June 2010
Directors
Mr Rick Crabb	4,581,528	-	300,000	4,881,528
Mr John Borshoff	21,591,394	-	286,000	21,877,394
Mr Ian Noble	21,000	-	-	21,000
Mr Sean Llewelyn	100,000	-	-	100,000
Mr Donald Shumka	50,000	-	-	50,000
Executives
Ms Gillian Swaby	5,036,655	-		5,036,655
Mr Wyatt Buck	96,350	-	13,650	110,000
Mr Simon Solomons	3,000	-	-	3,000
Total	31,479,927	-	599,650	32,079,577

No other Key Management Personnel held shares during the year ended 30 June 2010.

30-Jun-09	Balance 1 July 2008	On Exercise of Options	Net Change Other	Balance 30 June 2009
Directors
Mr Rick Crabb	5,581,528	-	(1,000,000)	4,581,528
Mr John Borshoff	21,591,394	-	-	21,591,394
Mr Ian Noble	21,000	-	-	21,000
Mr Sean Llewelyn	-	-	100,000	100,000
Mr Donald Shumka		-	50,000	50,000
Executives
Ms Gillian Swaby	5,091,140	-	(54,485)	5,036,655
Mr Ron Chamberlain	600,000	-	(600,000)#	-
Mr Wyatt Buck	16,350	310,000	(230,000)	96,350
Mr Simon Solomons	1,000	-	2000	3,000
Mr Dustin Garrow	-	600,000	(600,000)	-
Total	32,902,412	910,000	(2,332,485)	31,479,927

# No longer employed by Paladin so not required to disclose shareholdings.

No other Key Management Personnel held shares during the year ended 30 June 2009.

All equity transactions with Key Management Personnel other than those arising from the exercise of remuneration options have been entered into under terms and conditions no more favourable than those the Consolidated Entity would have adopted if dealing at arm’s length.

(f) Other Transactions and Balances with Key Management Personnel

Fees paid in the normal course of business in 2010 for company secretarial services totalling US$421,078 (2009: US$380,454) were paid/payable (balance outstanding at 30 June 2010 and included in trade creditors US$Nil (2009: US$Nil)) to a company of which Ms Gillian Swaby is a director and shareholder. All amounts are excluding GST.