The directors have imposed a freeze on their board fees for 2009-10 in response to PaperlinX’s performance, which left shareholders without a final dividend after making an annual net loss of $798.2m in the year to June 30, compared to a net profit of $72.2m the previous year, the Sydney Morning Herald reports.

However during 2008-09 fees for non-executive directors rose by between three and 17 per cent, with Barry Jackson the only one taking a cut, with his fees dropping seven per cent to $114,583.

James Hall was the top paid non-executive director, collecting $140,000 in fees, up 12 per cent on the previous year.

Chairman David Meiklejohn pocketed a 4.8 per cent salary and fee rise to $330,000 while chief executive Tom Park’s salary and fees lifted five per cent to $1.75m.

Park received no performance-based short-term incentive payments over the year, compared to the $919,020 he collected the previous year. After receiving a 45 per cent rise in non-cash benefits, his total remuneration fell by $950,000 to $2.257m in 2008-09.

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