SSN 0.00% 1.5¢ samson oil & gas limited

stdp

  1. 116 Posts.
    I hardly ever post but have been a long term holder and have quite a few.
    Fellow shareholders may I present to you the Samson STDP
    (STDP) Short Term Disincentive Program (Plain English Version)
    Preamble – In order to balance risk and reward I introduce the STDP which will now be mandatory for all those wishing to also participate in the LTIP.
    Methodology – The STDP may result in deductions to participant’s salaries and therefore to ensure recovery, salaries will be paid 6 monthly in arrears. Performance measures will be determined by shareholders but will only be revealed at the end of each 6 months so as to not negatively prejudice their negotiations or plans with other companies in which they may also be shareholders.
    Performance Measures – This program will encompass both qualitative and quantitative performance measures and targets which may generally be describes as follows.
    Qualitative – general stuff ups, waste, extravagance, poor decision making etc. E.g, losing tools down hole, employing spin doctors, flying other than economy class, choosing the wrong pump more than once. Subjective decisions will be made by a committee elected by shareholders and chaired by “Sandys”
    Quantitative – ratios will include
    1. Admin expenses/revenue
    2. Admin expenses/profit
    3. Current production/previous production
    4. Current 2P reserves/previous 2P reserves
    5. Current share price/ previous share price
    If the STDP results in a participant losing more than 100% of their salary they shall be instantly dismissed with no zero benefits or entitlements.
 
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Currently unlisted public company.

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