I have just noticed in the 2017 BPH Annual Report that the redundancy payment provisions for Mr David Breeze’s contract have changed.
Refer to the table below:
Column 1 Column 2 Column 3 0 2017 BPH Annual Report (ref 1) 2016 BPH Annual Report (ref 2)1 Notice period for terminating employment 6 months (refer page 16) 6 months (refer page 21)2 Redundancy payment applicable on termination Up to 12 months fixed salary (refer page 16) 6 months fixed salary (refer page 21)3 David Breeze Employment services contract (via Trandcorp) – per annum $98,000 - refer to Notes 23d (refer page 54) $98,000 - refer to Notes 24d (refer page 61)4 Financial Benefit for David Breeze (on termination) $98,000 $49,0005 6 Increase in Financial Benefit to David Breeze on termination $49,000
Can the Directors of BPH (including Mr Tom Fontaine - he was a Director during this time) please confirm:
1) why this additional redundancy benefit (available on termination) has been provided to Mr David Breeze
2) if the Chairman/Managing Director/Company Secretary (Mr Breeze) was not party to the discussion and approval of this change
Links to reference documents used above:
Ref 1 (2017 BPH Annual Report) - https://www.asx.com.au/asxpdf/20171101/pdf/43nvhbdp4lktd2.pdf
Ref 2 (2016 BPH Annual Report) - https://www.asx.com.au/asxpdf/20161003/pdf/43bnzdlmv6n88j.pdf
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I have just noticed in the 2017 BPH Annual Report that the...
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