Cue Energy Resources Limited Directors' report 30 June 2024 20 (B) Remuneration policy (C) Details of remuneration (D) Equity based remuneration (E) Relationship between remuneration policy and company performance (A) Director and executive details The following persons acted as Directors of the company during or since the end of the financial year: ● Alastair McGregor (Non-Executive Chairman) ● Andrew Jefferies (Non-Executive Director) ● Peter Hood (Non-Executive Director) ● Richard Malcolm (Non-Executive Director) ● Rod Ritchie (Non-Executive Director) ● Samuel Kellner (Non-Executive Director) ● Marco Argentieri (Non-Executive Director) The persons named above held their current position for the whole of the financial year and since the end of the financial year. The term “Executive” is used in this Remuneration Report to refer to Matthew Boyall, Chief Executive Officer. (B) Remuneration policy The Board’s policy for remuneration of Executives and Directors is detailed below. Remuneration packages are set at levels that are intended to attract and retain high calibre directors and employees and align the interest of the Directors and Executives with those of the company’s shareholders. The remuneration policy is established and implemented solely by the Board. Remuneration and other terms and conditions of employment are reviewed annually by the Board having regard to performance and relevant employment market information. As well as a base salary, remuneration packages include superannuation, termination entitlements and fringe benefits. The Board is conscious of its responsibilities in relation to the performance of the Company. Directors and Executives are encouraged to hold shares in the Company to align their interests with those of shareholders. No remuneration or other benefits are paid to Directors or Executives by any subsidiary companies. (C) Details of remuneration The structure of Non-Executive Director and Executive remuneration is separate and distinct. Non-Executive Directors Remuneration of Non-Executive Directors is determined by the Board within the maximum amount approved by the shareholders from time to time. The amount currently approved is $700,000, which was approved at the Annual General Meeting held on 24 November 2011. The Company’s policy is to remunerate Non-Executive Directors at a fixed fee based on their time involvement, commitment and responsibilities. Remuneration for Non-Executive Directors is not linked to individual or company performance, however, to align Directors’ interests with shareholders’ interests, Non-Executive Directors are encouraged to hold shares in the Company. The Board retains the discretion to award options or performance rights to NonExecutive Directors based on the recommendation of the Board, which is always subject to shareholder approval. Executives Executives receive a mixture of fixed and variable pay and a blend of short- and long-term incentives as appropriate. Remuneration packages contain the following key elements: 34 Cue Energy Resources Limited Annual Report 2024
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