text: **G. Remuneration of Non-Executive Directors**
  
  The Non-executive directors receive a basic annual fee for board membership and annual fees for committee service and 
  chairmanships. For the Australian non-executive directors this is inclusive of the superannuation guarantee contribution required 
  by the Australian government, which changed to 9.50% at 1 July 2014 (previously 9.25%). In accordance with ASX corporate 
  governance principles, they do not receive any other retirement benefits or any performance-related incentive payments by 
  means of cash or equity. Some individuals, however, have chosen to contribute part of their salary to superannuation in order to 
  access the available favourable tax advantage of doing so (“Salary sacrifice”). 
  
  To align directors' interests with shareholder interests, the directors are required to hold our ordinary shares equal to three times 
  their base board fees. Each Non-Executive Director has five years from their appointment to achieve this shareholding 
  requirement. All remuneration paid to directors and executives is valued in accordance with applicable IFRS accounting rules. 
  
  A review by Meridian was commissioned by the Remuneration and Nominations Committee in November 2014. The 
  Remuneration and Nominations Committee found that the NED fee structure was within competitive range of its Australian 
  peer companies, and that the remuneration per NED is near the median (46th percentile). 