2010 agm

5. Approval of Non-Executive Directors Fees
To consider and, if thought fit, pass the following resolution as an ordinary resolution of the Company:
That, for the purpose of ASX Listing Rule 10.17, and for all other purposes, the maximum aggregate amount payable to Non-Executive Directors by way of Directors fees be ***increased by $500,000*** from $250,000 to $750,000 per annum.

AND

6. Approval of Icon Energy Limited Performance Rights Plan
To consider and, if thought fit, pass the following resolution as an ordinary resolution of the Company:
That, for the purpose of Exception 9 of ASX Listing Rule 7.2, and for all other purposes, approval is given for:
(a) the establishment of the Icon Energy Limited Performance Rights Plan (Plan) as described in the Explanatory Statement accompanying and forming part of this Notice of Meeting; and
(b) the grant of performance rights to ordinary fully paid shares and any subsequent issue of ordinary fully paid shares in the Company under the Plan.

PLUS!

7. Approval of Issue of Shares to Dr Ray McNamara
To consider and, if thought fit, pass the following resolution as an ordinary resolution of the Company:
That, for the purpose of ASX Listing Rules 10.11, and for all other purposes, approval is hereby given for the ***issue of 650,507 fully paid ordinary shares*** in the capital of the Company to a trustee who shall if:
* Icon Energy Limited achieves a market capitalisation of $300,000,000 or greater on or before 28 May 2011; and
* Dr Raymond McNamara is employed by the Company on the day that the market capitalisation achieves $300,000,000 or greater;

PLUS!

8. Approval of Issue of Shares to Mr Ray James
To consider and, if thought fit, pass the following resolution as an ordinary resolution of the Company:
That, for the purpose of ASX Listing Rules 10.11, and for all other purposes, approval is hereby given for the ***issue of 1,427,012 fully paid ordinary shares*** in the capital of the Company to a trustee who shall if:
* Icon Energy Limited achieves a market capitalisation of $300,000,000 or greater on or before 28 May 2011; and
* Mr Raymond James is employed by the Company on the day that the market capitalisation achieves $300,000,000 or greater;


Wow. Fingers deep enough in the pie already, thanks very much.