On the legalities, it's completely above board. The only requirement is for the payments to be disclosed, which, as we are all aware they exist, the company has done.
As to whether they should be paid that much. In my view, no, at least not on the performance of the company: no revenue, no hope of revenue. Now, if Bill Gates or someone of his ilk came in - even Michael Malone - and said "pay me $1m and I'll show you how it's done", no problem, he has the proven track record. These guys don't and don't deserve that sort of remuneration - whether salary or consultancy fee - until the runs are on the board.
SAS Price at posting:
1.6¢ Sentiment: None Disclosure: Held