But for consideration - from the financial statements.
Salary to Mr. Rigg $273,434 Velolet Pty Ltd, a company of which Mr. Rigg is a Director, was paid a consulting fee of $212,500 during the year (2009: $172,159).
The Managing Director/Chief Executive Officer, Mr A. Rigg is employed under a consulting services contract, which commenced on 18 February 2008. The contract may be terminated by the Company on three months written notice or by payment in lieu of the notice period (based upon the agreed consulting fee). Mr Rigg may terminate the contract upon twelve months written notice to the Company. The Company may terminate the contract at any time without notice in the case of serious misconduct, at which time Mr Rigg would be entitled to only that portion of remuneration arising up to the date of termination. No director?s fees were paid to Mr Rigg in addition to the fees paid under the consulting arrangement.
Compensation to Mr Strasser $66,953 Up for re-election at the next AGM
ELK Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
