No base salary but a lot of LTI’s on, in my opinion, very generous terms. He gets 5 million shares for free upon appointment, another 5 million for completing a capital raise above $10m (presumably will happen on Monday), another 5 million for appointing a CEO (could do this tomorrow if desired, not a challenging hurdle), another 5 million for a 10 cent vwap hurdle (we hit 10c this week, not exactly a stretch) and then the only real long term incentive is the scoping study and mining license.
So will basically get $800k equivalent in shares after Monday for a couple days work.
I think we are paying for quality here, but these hurdles do seem very generous in my opinion.
WIA Price at posting:
8.5¢ Sentiment: None Disclosure: Held
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