Page 79 - Sundance Resources Ltd Annual Report 2013

SUNDANCE RESOURCES LIMITED ANNUAL REPORT 2013 77
corporate government
statement (continued)
FOR THE YEAR ENDED 30 JUNE 2013
CORPORATE GOVERNANCE PRINCIPLES
AND RECOMMENDATIONS (continued)
PRINCIPLE 8: REMUNERATE FAIRLY AND RESPONSIBLY
The Board has established a Nomination and Remuneration Committee, with a Charter that sets out its roles,
responsibilities, composition, structure and membership requirements. A copy of the Charter is on the
Company’s website.
The Nomination & Remuneration Committee currently has three members, being:
Mr Barry Eldridge (Chairman of the Nomination & Remuneration Committee);
Ms Fiona Harris; and
Mr Andrew (Robin) Marshall.
All Committee members including the Chairman are independent non-executive directors.
The Remuneration Report outlines the director and executive remuneration arrangements of the Company in
accordance with the requirements of the Corporations Act 2001 and the Corporations Regulations. It also provides
the remuneration disclosure required by AASB124 Related Party Disclosures.
The Committee has established a Remuneration Policy for the Company. A copy of the Remuneration Policy is
available on the Company’s website. The Company’s Remuneration Policy clearly distinguishes the structure of
executive and non-executive remuneration, and contains a prohibition on directors and employees entering into
hedging arrangements to mitigate the risk of changes in value of unvested performance rights or options by the
use of financial instruments. Any such arrangements entered into in relation to vested entitlements are required to
be reported to the Board and must only occur within the trading periods allowed under the Securities Trading Policy.
There are no schemes for retirement benefits, other than superannuation, for non-executive directors.