Ann: Dr Ron Weinberger appointed Executive Chairman - Updated, page-5

Very sweet terms of his contract, for him that is...

I think this clause needs clarification..

"Base salary of A$250,000 per annum exclusive of superannuation. In case that during the term of this Agreement, if the Company completes a capital raise of greater than AUD$2,500,000 on or before today, the Executive will be entitled to AUD $50,000. Subject always to the Company having obtained any necessary shareholder approval and/or regulatory approval under the ASX Listing Rules and/or Corporations Act, if required) (Required Approvals), the Company will issue the following Incentive Options to the Executive for NIL consideration on the terms set out in the table below:"

What's with this on or before today line?  He's organising a $2.5 mill cap raise today, or he's already organised it, and scoops $50k for it? Or is it a written mistake?

And then another 5 tranches of 1.5 million options available at no cost if he meets certain conditions, some seem quite lame,  like, 1.5 mill oppies if  only  5000 users are on Hera Care at the same time.  Those 5000 users will just cover Dr Rons wage and will leave nothing for shareholders.  

As usual, things aren't quite clear, except for the $250,000 p.a. for  a 4 day week, working from home, and the very generous options structure.

Dr Ron has done very well out of this deal, lets hope he's worth it.

Just another opinion.

TCG