Ann: Appendix 4E and Annual Report to shareholders-YBR.AX, page-29

OK, thanks. Let me offer this...

His "employment contract" as an executive does not remove him from his liabilities as a senior member of the management team and he is treated as an employee, he may get tax benefits for using the approach he does but that is no different from many other executives under employment contracts. For performing this role he gets paid as an employee.

His holding office of YBR as a company director is a different matter as that appointment has to be ratified by the shareholders and he is accountable and liable under the Corporations Act and ASX compliance under the rules and regulations and the ASIC rules and regulations as well. for performing this role he gets paid an equal amount to that of other directors and a chairman allowance.

The company D&O will cover him for both these roles. It can get a bit murky at times as the most senior executive the D&O insurance would cover him anyway under the O part of the insurance whilst the D part covers his Board role as chairman.