Iggy's base ($395k) is 20% less than Paul's and he received a...

Iggy's base ($395k) is 20% less than Paul's and he received a $158k cash bonus which I assume is for securing the senior financing.

Iggy has been granted 10m performance rights and those rights must carry an accounting value which forms part of the $1.7m rem you speak to. That $1.13m in value (of the $1.7m) is really intangible and not cash. If the rights don't vest, Iggy receives nothing.

If you go back though TNG AGM NOMs, Paul will receive an additional 2m TNG shares upon senior financing and I'm sure the board will consider a cash bonus at that time.