9. REMUNERATION POLICY
This Boardshall review and reassess this policy at least annually.
General director remuneration
Shareholder approval must be obtained in relation to the overall limit set for non executive directors&rsquo fees. The maximum aggregate remuneration approved for directors is currently $200,000. The directors shall set individual Board fees within the limit approved by shareholders.
Shareholders must also approve the framework for any equity based compensation schemes and if a recommendation is made for a non executive director to participate in an equity scheme, that participation must be approved by the shareholders.
The Company&rsquo s remuneration policy for executive directors and senior management is designed to promote superior performance and long term commitment to the Company. Executives receive a base remuneration which is market related, together with performance based remuneration which is met out of a profit sharing pool on a calendar year basis.
Overall remuneration policies are subject to the discretion of the Board and can be changed to reflect competitive market and business conditions where it is in the interests of the Company and shareholders to do so.
Executive remuneration and other terms of employment are reviewed annually by the Remuneration Committee having regard to performance, relevant comparative information and expert advice.
The Committee&rsquo s reward policy reflects its obligation to align executive&rsquo s remuneration with shareholders&rsquo interests and to retain appropriately qualified executive talent for the benefit of the Company. The main principles of the policy are:
(a) reward reflects the competitive market in which the Company operates
(b) individual reward should be linked to performance criteria and
(c) executives should be rewarded for both financial and non-financial performance.
The total remuneration of executives and other senior managers consists of the following:
(a) salary - senior executive receives a fixed sum payable monthly in cash
(b) bonus - each executive is eligible to participate in an annual   incentive plan if deemed appropriate
(c) long term incentives - each senior executive may participate in share option schemes & equity based remuneration schemes which have been approved by shareholders and
(d) other benefits &ndash senior executive are eligible to participate in superannuation schemes.
The Board reviews executive packages annually by reference to the consolidated entity&rsquo s performance, executive performance and comparable information from industry sectors and other listed companies in similar industries as required.
The company at its expense will put in place an insurance policy to indemnify all directors and Officers of   the Company.