Ann: Investor Presentation-TV2.AX, page-34

also from prospectus, might be performance related?


"14.7 Consultancy Agreement – Mr Nick Fitzgerald The Company has reached an in-principle agreement to engage Nick Fitzgerald as Chief Executive Officer of the Company. The terms of the in-principle agreement are as follows:

(a) Position and Term: Nick Fitzgerald will be engaged as Chief Executive Officer of the Company with effect from completion of the TV2U Acquisition for a term of three years;
(b) Annual fee: $350,000 per annum subject to annual review;
(c) Other fees: sign-on bonus of $150,000 and a performance bonus of $150,000 for each deal signed by TV2U Singapore during the term of the engagement where the forecast revenue in the 12 months after commercial launch of the deal is not less than $5,000,000;
(d) Restraint of trade: Nick Fitzgerald will be subject to a restraint of trade period of up to one year from termination of the engagement; and
(e) Termination: the engagement may be terminated by the Company or Nick Fitzgerald giving to the other party the requisite notice."

What do i think ?

Its way too generous on early start up.

But i think that Nick is hard at work, making my investment a good one.