last page of announcement as a annexure as alluded to in main...

last page of announcement as a annexure as alluded to in main body of announcement

Schedule A: Summary of Material Terms of CEO Employment Contract
Remuneration: Total fixed remuneration $275,000 per annum (plus superannuation)
Short Term Incentive: Up to $25,000 per annum
Long Term Incentive: Three million share options on commencement, with a further three million
options on the first anniversary of commencement.
First Tranche – issued on commencement,
- Exercise price of $0.138 per share being 150% of the 5-day
VWAP prior to the date of this announcement
Vesting period: - 1.5 million vest immediately upon issue
- 1.5 million vest after 18 months
Second Tranche – issued on first anniversary of commencement
- Exercise price of 150% of the 5-day VWAP on ASX on the
day prior to the grant
Vesting period - 1 million vest immediately upon issue
- 1 million vest after 12 months
- 1 million vest after 24 months
Term: 90 Days notice by Company or Employee