financial position, page-2

good money working for conti in SA if you can get it

Executive Director and Chief Executive Officer – Mr Don Turvey
• Term of Agreement – The agreement commenced on 10 May 2010 for an unspecified term or until either party gives 6
month’s written notice of termination or otherwise terminated in accordance with the consultancy agreement.
• Remuneration Rand 3,400,000 (AU$468,860) per annum payable monthly and reviewed annually, payable to Mr Don
Turvey or nominee and incentive payment of 1m shares and 10m options exercisable at $0.50, 31/12/2013 (post
consolidation).
• Payment of termination of Agreement without cause – the balance of any part of the notice period.
• Agreement establishes right to receive additional short term incentives in accordance with annually reviewed
R&NC policy.


Non-Executive Director – Mr Andrew Macaulay
• Term of Agreement – The agreement was effective 1 April 2008 for an unspecified term or until either party gives 1
month’s written notice of termination or otherwise terminated in accordance with the consultancy agreement.
• Remuneration Rand 2,595,432 (AU$357,910) per annum payable monthly and reviewed annually, payable to Mr Andrew
Macaulay or nominee.
• Payment of termination of Agreement without cause – the balance of any part of the notice period.
• Effective 1 July 2012, Mr Andrew Macaulay transitioned to a non-executive Director of the Group. Mr Macaulay
remains engaged with the Group under his executive agreement however his salary has been reduced to $40,000
per annum.

Group Chief Financial Officer – Mr Maritz Smith
• Term of Agreement – The agreement commenced on 1 June 2012 for an unspecified term or until either party gives
one month’s written notice of termination or otherwise terminated in accordance with the agreement.
• Remuneration Rand 3,000,0000 (AU$356,222) per annum payable monthly in arrears, payable to Mr Smith or nominee.
• Payment of termination of Agreement without cause – the balance of any part of the notice period.
Remuneration Report (Audited) (continued)
Directors’ Report

Subsidiary Chief Financial Officer – Ms Rachel Hebron
• Term of Agreement – The agreement transferred from Mashala upon acquisition on 1 November 2010 for an unspecified
term or until either party gives 3 month’s written notice of termination or otherwise terminated in accordance with the
consultancy agreement.
• Remuneration Rand 1,754,500 (AU$202,279) per annum payable monthly and reviewed annually, payable to Ms Hebron
or nominee.
• Payment of termination of Agreement without cause – the balance of any part of the notice period.
• Agreement establishes right to receive additional short term incentives in accordance with annually reviewed
R&NC policy.

Chief Operating Officer – Mr Johan Heystek
• Term of Agreement – The agreement transferred from Mashala upon acquisition on 1 November 2010 for an unspecified
term or until either party gives 3 month’s written notice of termination or otherwise terminated in accordance with the
consultancy agreement.
• Remuneration Rand 2,975,000 (AU$342,912) per annum payable monthly and reviewed annually, payable to Mr Heystek
or nominee.
• Payment of termination of Agreement without cause – the balance of any part of the notice period.
• Agreement esta