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clock Created with Sketch. 18/01/19
17:20
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Originally posted by divvv10:
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They have taken a pay cut, good to see."With the transition of responsibilities completed during the December quarter and the resulting change to executive responsibility at the board level, the roles and remuneration structure for MXC’s Executive Directors has been materially revised to reflect a transition of key responsibilities to the new management team, effective 1 January 2019. Details of this are reflected below. Roby Zomer - Managing Director Annual remuneration of $300,000 with additional performance shares (equating to 30% of annual salary) based on share performance and operational milestones. As Managing Director, Roby remains responsible for the execution of the Board’s strategy and operations across the Company’s entire operations. 4 - 6 Brett Mitchell - Executive Chairman Annual remuneration of $240,000 with additional performance shares (equating to 30% of annual salary) based on share performance and operational milestones. As Executive Chairman, Brett will continue to be responsible for the Company’s financing, corporate strategy and development. Nativ Segev - Director and Business Strategy Manager Annual remuneration of $240,000 with additional performance shares (equating to 30% of annual salary) based on share performance and operational milestones.
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The question of the performance shares is what are the milestones? To be valued at 30% of their salaries they are either getting a hell of a lot of shares for an x performance, or less shares for almost no performance.
