text: *Claw Back Provisions*
  The Board, in its sole discretion, shall reserve the right to claw back any incentive awards issued if any of the following conditions 
  apply: 
  • 
  
  The Company’s financial statements are required to be restated due to material non-compliance with any financial 
  reporting requirements under the federal securities laws (other than a restatement due to a change in accounting rules); 
  and 
  
  o As a result of such restatement, a performance measure which was a material factor in determining the award 
  
  is restated, and 
  In the discretion of the Board, a lower payment would have been made to the executive officer based upon the 
  restated financial results; 
  o 
  
  • 
  • 
  
  Should it subsequently be found that the information or assumptions are materially erroneous; 
  In the event that there is evidence of fraud by any employee resulting in material adverse change in the Company’s 
  financial statements; 
  In the event that there is a material adverse change in the circumstances of the Company.  • 
  
  **E. Remuneration Policy and Framework**
  
  *The Remuneration and Nominations Committee*
  The Remuneration and Nominations Committee makes recommendations to our board of directors in relation to total 
  remuneration of directors and executives and reviews their remuneration annually. The Committee members are all independent 
  directors, and independent external advice is sought when required. 
  
  *Remuneration Consultant*
  Given the unique structure of being traded on the ASX but having a U.S.-based management team and operations, the 
  Remuneration and Nominations Committee retained Meridian Compensation Partners, LLC (Meridian) as its independent 
  remuneration consultant for the 2014 fiscal year. Meridian was retained to provide executive and director remuneration 
  consulting services to the Committee, including advice regarding the design and implementation of remuneration programs that 
  are competitive and common among the U.S. oil and gas exploration and production industry, competitive market information, 
  comparison advice with Australian companies and practice, regulatory updates and analyses and trends on executive base salary, 
  
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