more low-ball options to the ceo

From the option announcement :
"3,300,000 Options held by Dr Collier lapsed in Q1 2010"
...Those options lapsed for a reason.
Dr Greg Collier failed to meet previous targets !

"restore Dr Colliers option allowance"
The Board: "Greg, no worries not meeting previous targets.
We will get Shareholders to top up - no problems !
......and for good measure we will add an extra 1.2+mil options this time around.
That will make it 4.578mil lowly priced options.
Happy Greg?
OK, done deal - just a few formalities to put in place. Good as done.

"Will provide further incentive for Dr Greg Collier"
...Based on past performance, keeping his job should be sufficient incentive in itself.

"contribute to the creation of shareholder value"
...What !?!
Create shareholder value is his damn job, for which he received a nice fat package last year : ~$860K

"$0.475 is payable upon the exercise of each Option to acquire a Share"
...Oh boy, 47.5c, What a stretch that is !

...How about making it $1 even to see some real shareholder value?