From the report in relation to ''related party transactions' pg16
In August 2016 the Directors (with Mr Ormerod abtstaining) have resolved that Robin Ormerod will become an employee of the Company from 1 September 2016 and receive a base salary of $300,000 plus superannuation of 9.5% up to the maximum superannuation contribution base published by the Australian Taxation Office annually.
In addition he will be eligible to receive a cash bonus that is based on the share price
appreciation over the financial year as follows:
20% of base salary for each 100% increase in the 30 day VWAP (Volume Weighted Average Price) as at 30 June each year and payable in the
following year.
June 30 we were at a VWAP of 9.02.
Ann: 2016 Financial Year Results-PEH.AX, page-6
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