he still has to pay the exercise price you all realise?
So $400k and $500k respectively per tranche.
Say he does some fine work and gets the share price to 10 or 12c, no one will be complaining about his exercise price. At 10c the options are worth $2m and will cost him $900k to exercise, $1.1m profit to be had.
You need to pay well to attract the right calibre of person. TRL has paid well, now let's see about the calibre of person.
CEO Appointment, page-9
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