ik negotiations

"Mr Kraemer will be paid a base salary of $242,000 (including Board Fees) plus statutory superannuation of 9%. Mr
Kraemer will also be entitled to performance related remuneration as follows; an 8% rise in base salary if the price of
Mantle shares trade above 20 cents per share on the ASX (on a 10 day VWAP basis) by 30 June 2013, 4 separate bonus
payments of up to $40,000 each should he meet a challenging set of KPI’s during calendar year 2013, an immediate
grant of 3 million options to acquire Mantle shares (ASX: MNMOA) subject to shareholder approval, and a further grant of
3 million options on or about January 2014 with a strike price and vesting criteria to be agreed in due course."ends...

IK sat down and negotiated a new salary package mainly all based on short term goals IMO.

"an 8% rise in base salary if the price of Mantle shares trade above 20 cents per share on the ASX (on a 10 day VWAP basis) by 30 June 2013"

Why bother if you don't think there is a very good chance of it happening.

"4 separate bonus payments of up to $40,000 each should he meet a challenging set of KPI’s during calendar year 2013"

I would love to know the 4 KPI's

"an immediate grant of 3 million options to acquire Mantle shares (ASX: MNMOA)"

He wants MNMOA's. Why?

"3 million options on or about January 2014 with a strike price and vesting criteria to be agreed in due course"

Why didn't the board just grant him these further oppies at the same strike as current MNMOA's? Is it because they have a fair idea that they can have a much higher strike price in 2014?

Just my thoughts but bullish IMO. Afterall IK is former Exergen & Theiss and knows well 2013 is Brown Coal Year in Vic. After successfully negotiating the JVA I'd think his relationship with Exergen would be pretty tight.

Does the above salary package look as if it's been negotiated by a managing director with doubts about Exergen's ability to deliver on the items contained in the Mantle announced RFC Ambrian flyer, or the prospects of our other projects? Not to me.

All IMO & DYOR

cheers
B Rubes