Ann: Key Organisational Changes showcasing Alexium's Growth., page-19

Hi mak,

NC didn't take the pay increases from last year so even though the salary has been reduced we don't know the difference between what he didn't except from last year and what the new role will be, but he is one that certainly deserves his entitlements for his excellent work thus far in the company (apart from being a little over optimistic here and there on timing), the "stepping back" IMO probably won't change much at all in the near future as he spends much of his time not in SC as it is, I think the move to put a CEO who is at SC more or less full time is a smart move, it'd be hard to oversee this type of current growth in the company from Washington, having a finger on the pulse is crucial when having to make snap decisions. I don't see a big change in NC's current role for the short term, IMO he will just keep up his current mentoring, lobbying and NASDAQ work.

Cheers.