REMUNERATION COMMITTEE REPORT www.bordersandsouthern.com  19 Borders & Southern Petroleum plc Annual Report & Accounts 2014 STRATEGIC  REPORT DIRECTORS’  REPORT F INANCIAL  S T ATEMENTS On 18 May 2005 all of the Company’s Directors entered into a service agreement with the Company. The strategies the Remuneration Committee uses to set the remuneration of Directors and senior management are outlined on  page 16. The remuneration of the Directors for the year ended 31 December 2014 was as follows: The share-based payments are the amortisation over the vesting period of the fair value of options issued to Directors in  previous years. See note 7 for more details. The Group does not operate a pension scheme for its Directors or employees. From 1 January 2015, the Non-Executive Directors have elected not to receive a salary until further notice. Basic salary $ Share-based  payment  $ Total  2014  $ Total 2013  $ Harry Dobson – – – – Stephen Posford 49,661 49,661 46,960 Howard Obee 413,840 61,617 475,457 524,707 Nigel Hurst-Brown 66,214 – 66,214 62,613 Peter Fleming 331,072 61,617 392,689 446,441 860,787 123,234 984,021 1,080,721