This is more of the agreement, read the last line again,...

This is more of the agreement, read the last line again, apologies if I have this wrong, but to me it's only applicable if we vote YES to the agreement, otherwise we don't get the $10 million.

highlights 11 May 2015 Flinders signs option agreement with Todd Corporation for $65m+ PIOP sale The agreement is subject to satisfaction of conditions precedent (described below) by 31 October 2015. The terms include the following: • An option payment of A$10m, which amount will be secured by a bank guarantee until shareholder approval is received and the other customary conditions are satisfied. • An exercise period from satisfaction of the conditions, up to and including 31 December 2016, during which time Todd will have exclusive access to the PIOP, the right to undertake exploration and feasibility works on the PIOP, and may elect to acquire the project for A$55 million and payment of a production royalty. • Todd may extend the option for a further two (2) periods each of two (2) years subsequent to the initial option period upon payment of an additional A$10m for each 2 year period. • The production royalty ranges from A$0.60 to A$1.40 per tonne on a straight line basis between iron ore prices of US$60 and US$80 per tonne (62% CFR price), with a minimum royalty of A$0.60 per tonne below this range and a maximum royalty of A$1.40 per tonne above this range. • If Todd has not commenced construction of the project within 2 years of the date the sale completes (following exercise of the option), it must pay Flinders a further A$20m. The future royalties are not affected by this further payment. • Todd will pay Flinders A$10m to purchase an option over PIOP • Exercise price to acquire the project is A$55m plus ongoing royalty • Extensions of the option period would realise further A$10m payments to Flinders • Todd will pay Flinders an ongoing royalty of up to A$1.40 per tonne linked to the iron ore price • Agreement is subject to Flinders shareholder approval process and relevant consents