Tim's Golden Parachute- 12 months Pay. Last year received...

Tim's Golden Parachute- 12 months Pay.
Last year received $899,330 in salary not including the STI payment of $341,719, Supa $16,470, Long Service leave of $44,238 and Share based payments of $273,040 - I have only included the main items here.

Tim will walk away with 12 months salary here - all up that's probably between $1.2 to $1.5 million.






Extract from 2013 Annual Report

T J Lehany – Managing Director and CEO
1. Term of agreement – permanent employee, commencement 2 March 2009.
2. Payment of a termination benefit or early termination by the Company, other than for serious
misconduct or serious breach of duty:
a) Where 6 months notice of termination is given; an additional 6 months base salary and
superannuation payment, and (at the discretion of the Board), any entitlement to a ‘stretch performance’ payment plus an amount equivalent to six months of notional ‘target performance’ payment, or
b) Where notice of immediate termination is given, 12 months base salary and superannuation,
plus (at the discretion of the Board) an amount equivalent to 12 months of a notional ‘target
performance’ payment.