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              [html]<thead><tr><td>2014 Remuneration</td><td>Action</td><td>Rationale</td></tr></thead><tbody><tr><td>Non - executive Director Compensation</td><td>Increased total director base compensation during 2014 by approximately AS55.000 per Director.</td><td>Based on market review of director compensation at peer group companies and to reflect the companies. Company ’ s operations and therefore the related time commitment and performance expectations of the directors.</td></tr><tr><td>Key Changes for 2015</td><td>Action</td><td></td></tr><tr><td>Fixed Remuneration</td><td>No increases to Managing Director ' s or KMP ' s base salary.</td><td></td></tr><tr><td>Cash Short - Term Incentive</td><td>Short - Term Incentive payments earned for 2014 will be paid out in Restricted Stock Units during 2015 instead of cash to reflect the current low commodity price environment and preserve liquidity.</td><td></td></tr><tr><td>Equity Long - Term Incentive</td><td>Long - Term Incentive RSUs to KMPs earned for 2014 will be paid out in 2015 with 50 % time based vesting and 50 % vesting tied to Total Shareholder Return compared to the peer group over a three year period.</td><td></td></tr><tr><td>Non - executive Director Compensation</td><td>No increases to NED fees</td><td></td></tr></tbody>
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