Ann: Initial Director's Interest Notice (S Linge), page-5

Long-Term Incentive (LTI): Offer of 36,500,000 Performance Rights pursuant to the
Company’s shareholder approved Securities Incentive Plan (Plan). The Performance
Rights are subject to the following:
 Performance Rights that have not been converted by 4th anniversary of
commencement of employment will expire.
 Performance Conditions required to be met by 3rd anniversary of commencement of
employment.
 Performance and vesting conditions are as follows:
o Hurdle 1 – 4,000,000 of the Performance Rights are subject to satisfaction of
Performance Condition 1, being the LIT share price being sustained at or above
$0.10 VWAP over a consecutive 20-day period (trading days) during the
Performance Period, and shall vest subject to the employee remaining in
employment for 12 continuous months of employment from the date of satisfaction
of Performance Condition 1;
o Hurdle 2 – 5,000,000 of the Performance Rights are subject to satisfaction of
Performance Condition 2, being the LIT share price being sustained at or above
$0.15 VWAP over a consecutive 20-day period (trading days) during the
Performance Period, and shall vest subject to the employee remaining in
employment for 12 continuous months of employment from the date of satisfaction
of Performance Condition 2;
o Hurdle 3 – 6,500,000 of the Performance Rights are subject to satisfaction of
Performance Condition 3, being the LIT share price being sustained at or above
$0.20 VWAP over a consecutive 20-day period (trading days) during the
Performance Period, and shall vest subject to the employee remaining in
employment for 12 continuous months of employment from the date of satisfaction
of Performance Condition 3;
o Hurdle 4 – 9,000,000 of the Performance Rights are subject to satisfaction of
Performance Condition 4, being the LIT share price being sustained at or above
$0.25 VWAP over a consecutive 20-day period (trading days) during the
Performance Period, and shall vest subject to the employee remaining in
employment for 12 continuous months of employment from the date of satisfaction
of Performance Condition 4;
o Hurdle 5 - 6,000,000 of the Performance Rights are subject to satisfaction of
Performance Condition 5, being Envirostream being operating cash flow positive for
a rolling 6 month period during the Performance Period, and shall vest subject to
the employee remaining in employment for 12 continuous months of employment
from the date of satisfaction of Performance Condition 5; and
o Hurdle 6 – 6,000,000 of the Performance Rights are subject to satisfaction of
Performance Condition 6, being Final Investment Decision at VSPC during the
Performance Period, and shall vest subject to the employee remaining in
employment for 12 continuous months of employment from the date of satisfaction
of Performance Condition 6.