Appendix F

REMUNERATION

Remuneration Committee Charter

Given the present size of the Company, the whole Board acts as the Remuneration Committee, if required. The Board believes no efficiencies or other benefits could be gained by establishing a separate Remuneration Committee.  To assist the Board to fulfil its function as the Remuneration Committee, the Board has adopted a Remuneration Committee Charter.

The primary role of the Remuneration Committee is to consider and review the Company’s remuneration arrangement of it Directors and senior executives.

The responsibilities of the Remuneration Committee include review of the Company’s Remuneration Policy, review of remuneration and incentives of Directors and senior executives, review of superannuation arrangements and review of incentive and benefits programs.

Remuneration Policy

The Company has a Remuneration Policy adopted by the Board.  Remuneration of directors and senior management is determined with regard to payments made by other companies of similar size and industry and in accordance with the skills and experience of the particular person.  Details of remuneration of directors and Key Management Personnel are disclosed in the Remuneration Report in the Company’s Annual Report.

Executives are prohibited from entering into transactions or arrangements which limit the economic risk of participating in unvested entitlements.

There are no termination or retirement benefits in place for non-executive directors (other than for superannuation).

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