I dont understand this variation to his remuneration. It states
"The entitlement to this Special Bonus was waived by Mr Hanoch in relation to the most recent capital raising, and
would have been paid on that raising and any future capital raisings, calculated as 1% of any
amount raised between A$3 million to A$8 million, and 1.5% of capital raised above
A$8 million."
So is that 50K for the 1% for 3 to 8 mil and 780K for the 1.5% above 8 mil making a total of 830K that he waived. So are the board just giving him back 800K of that to say thanks for the CR?
Ann: Variation to CEO's Employment Agreement, page-49
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