Ann: Annual Report, page-5

Service agreements Page 12/13

Mark Rowbottam, Executive Director The company had an agreement with Allegra Capital Pty Ltd for the provision of Mark Rowbottam’s services for an agreed annual fee of $250,000 plus superannuation between May 2013 and March 2014. From 1 April 2014 the Company has as agreement with Mr Rowbottam for the provision of services for an agreed annual fee of $180,000 plus superannuation.

Gennady Varitsky, Non-Executive Director From 1 December 2013 the company has a 12 month contract with Mr Varitsky for the provision of services for an agreed monthly fee of $3,000. From 1 April 2014 the Company has as agreement with Mr Varitsky for the provision of services at no cost to the Company.

Wal Muir, CEO From November 2012 to December 2013 the Company has as agreement with Mr Muir for the provision of services for an agreed annual fee of $200,000 plus superannuation plus performance bonuses. From January 2014 Mr Muir has as agreement with the company for the provision of services for an agreed daily rate of $1000 per day or part thereof plus superannuation.

Hamish Carnachan, CFO – resigned 22 August 2014 The company has an agreement with Mr Carnachan for the provision of services on normal commercial terms and conditions. His annual salary is $209,475 plus statutory superannuation. The company may terminate the contract by giving three months' notice; Mr Carnachan may terminate by giving one month notice.