Ann: Chairman/CEO - Remuneration and Shareholding Clarification, page-2

The following makes sense, the exact amounts could be debatable but the intent is nice:

in recognition of the reduced base remuneration and to further align Mr Peros interest with those of shareholders the Company proposes, subject to shareholder approval, to issue Mr Peros with four tranches of 5,000,000 performance rights each (Performance Rights).

Each tranche of Performance Rights has certain share price milestones, as follows:

Tranche Number Vesting Milestone – achievement of a 20 day Volume
Weighted Average Closing Price of:
Tranche One 3.3 cents per share
Tranche Two 10 cents per share
Tranche Three 15 cents per share
Tranche Four 20 cents per share

The Performance Rights will expire three years from the date of issue and each Performance Right will convert into one ordinary fully paid share in the Company if the relevant milestone for each tranche is achieved during the 3-year period.