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1. Executive remuneration
1.1 CEO and nominated executives
The remuneration for the following executives is covered in this report:

CEO and direct reports

Name
Position

Andrew Mohl
Chief Executive Officer (left AMP on 31 December 2007)

Craig Dunn
Managing Director, AMP Financial Services (prior to 15 October 2007)
Chief Operating Officer (15 October 2007 – 31 December 2007)
(Chief Executive Officer from 1 January 2008)

Stephen Dunne Managing Director, AMP Capital Investors
Paul Leaming Chief Financial Offi cer
Peter Hodgett General Manager, Human Resources and Strategy (left AMP on 31 December 2007)
David Cohen General Counsel
Craig Meller Director, Product Manufacturing (prior to 15 October 2007)

Managing Director, AMP Financial Services (appointed 15 October 2007)
Lee Barnett Chief Information Offi cer
Matthew Percival General Manager, Public Affairs

Other executives

Philip Garling Global Head of Infrastructure, AMP Capital Investors
(reports to Stephen Dunne, Managing Director, AMP Capital Investors)

1.2 Philosophy
The AMP Board’s approach to executive remuneration is to align remuneration with the creation of value for AMP shareholders.
AMP’s remuneration is market competitive and aims to attract, retain and motivate high calibre employees who contribute to the
success of AMP’s business.

AMP pays for performance. All executives have a significant component of their remuneration at risk. Specific details about these
components are listed below.

1.3 Remuneration structure
During 2007, executive remuneration comprised four key components:

Fixed 1. Base salary, including salary sacrifi ce benefits and applicable Fringe Benefi ts Tax
2. Superannuation on base salary
At risk 3. Short-term incentives (STI) and superannuation on STI
4. Long-term incentives (LTI)

Base salary

An executive’s salary is determined according to their level of responsibility, importance to the business and market competitiveness.
Base salaries are fixed payments and are reviewed (but not necessarily increased) each year taking into account the appropriate
market-based salary for the role and individual.

The base salary is targeted around the median market rate. This means that AMP is ranked broadly in the middle of comparable
companies for executive base salaries. Total remuneration above the market median can be achieved through AMP’s short- and
long-term incentives, which reward high levels of performance.

Superannuation

Executives, with the exception of Andrew Mohl and Craig Meller, received superannuation entitlements equal to 10.5 per cent of
their base salary and their short-term incentive payment. Andrew Mohl received superannuation contributions equal to nine per cent
of the superannuation maximum contribution base.

Similarly, Craig Meller, on appointment to his new role as Managing Director, AMP Financial Services, received entitlements equal to
nine per cent of the superannuation maximum entitlements base. Prior to this he received superannuation entitlements equal to

10.5 per cent of his base salary and short-term incentive payment.
Executives may choose to increase the proportion of their remuneration taken as superannuation, subject to legislative guidelines.