Ann: CEO Termination, page-20

From Annual report it looks like the required notice period is 12 months, so could be costly for shareholders if they need to pay the notice period out.

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1. Dr Frank Houllis - Chief Executive O cer
   
   
   • › No agreement expiry date;
     
     
   • › Remuneration is $300,000 per annum plus statutory superannuation guarantee;
     
     
   • › The agreement and the employment created by it may be terminated by either Magnis Energy Technologies Limited or Dr Houllis giving the other party 12 months’ notice. The agreement also includes a 6 month ‘non-compete’ clause for Dr Houllis; and
     
     
   • › The agreement is subject to annual review.