short-term incentives, long-term incentives, benefits and perquisites. Amounts paid to Meridian for these services during fiscal  year 2014 was di minimis. Meridian did not provide any other services to the Company.  In order to ensure that any remuneration recommendations made by Meridian were free from undue influence by management,  the Remuneration and Nominations Committee engaged Meridian and any advice, work or recommendations made by Meridian  were provided to the committee chairman. Base salaries for executives recognize their qualifications, experience and responsibilities as well as their unique value and  historical contributions to Sundance. In addition to being important to attracting and retaining executives, setting base salaries  at appropriate levels motivates employees to aspire to and accept enlarged opportunities. We do not consider base salaries to  be part of performance-based remuneration. In setting the amount, the individuals' performance is considered as well as the  length of time in their current position without a salary increase.  Elements of Remuneration Base Salary  Component  Description  Cash  Remuneration  Base Salary (Fixed)  Competitive pay to attract and retain talented executives.  Short-Term Incentives  (Performance Based)  Annual incentive plan designed to provide executives with an  opportunity to earn an annual cash incentive based on Company  financial and operational performance.  Equity  Remuneration  Long-Term Incentives  (Performance Based)  Restricted share awards that are tied to achievement of specific  performance metrics, intended to reward strong, sustained underlying  share value, and reward increasing shareholder value. Equity awards  further align the interests of our executives with those of our  shareholders.  Other Benefits  Health and Welfare  Benefit Plans (Other)  Executives are eligible to participate in health and welfare benefit plans  generally available to other employees.  Name  Title  2014 Salary  2013 Salary  % Change  Rationale  E. McCrady  MD/CEO  $370,000  $275,000  35 %  Mr. McCrady’s salary was  increased effective January 2014  reflecting his significant  contribution to our performance  and to bring his pay closer to the  25 th  percentile of the Company’s  U.S. and Australian market peer  group. This is Mr. McCrady’s first  base pay increase since 2011.  C. Anderson  CFO  $295,000  $225,000  31 %  Ms. Anderson’s salary was  increased effective January 2014  to bring her closer to the 50 th percentile of the Company’s U.S.  market peer group. This is Ms.  Anderson’s first base pay increase  since 2011.  G. Ford  VP of Exploration  and Development  $295,000  $230,000  28%  Ms. Ford’s salary was increased  effective January 2014 to bring her  closer to the 50 th  percentile of the  Company’s U.S. market peer  group. This is Ms. Ford’s first base  pay increase since 2011.  2013 Base Salaries and 2014 Salary Adjustments  - 33 - 