alans new salary

Are they serious?

This is not supposed to be Alans personal little cash cow!

$360,000pa

Car Allowance

Other Employee Allowances

Annual bonus of 2.5% of Uni's INCOME above $10m - not profit, INCOME!!

2.5m Shares in recognition for prior service

2.5m Shares for prior bonus's not taken

7.5m Options exercisable at 33c

and the best of the lot...
12.5% of any license fee or exclusivity agreement signed in excess of $10m to be issued as shares at 33c!!!




So market value of this years salary, 1 day into the new year is:
$360,000 Cash
$40,000 Allowances (have a look at his car)
$187,500 for 2.5% income over $10m(est $16m from today and 1.5m existing)
$1,900,000 for 5m shares at 38c
$375,000 for 7.5m oppies (5c profit on 33c exercise)
$2,763,636 for todays license agreement (15% of $16m paid in shares at 33c - so 7,272,727 shares at 38c)

Total: $5,266,496

Thats this years salary. On a Company with a market cap 4 weeks back of about $40m. Thankyou very much for your services Alan, but I think we can find someone a little cheaper!

I understand that the 5m shares and 7.5m oppies are "one off's", but really? How can they see this as reasonable? The laws for expensing executive remuneration and share schemes mean this alone could make UNI have a tax loss this year even with the $16m Extra Income!!! And please dont post anoying crap about how the oppies arent exercisable unless the price hits certain levels - its the smallest part of the wage!

Why not see what it is worth at 45c or 50c?

Trying to sneek this one in after close and after a great announcement like todays IMHO!