Weebit - 2025 and beyond, page-268

"with the Onsemi agreement already in the bag, there will be 5 more commercial agreements to be announced this year ... or Coby loses his performance bonus. He didn't have to tie his bonus to 6 agreements so must be damn sure the remaining 5 will be executed or he stands to lose a shed load of money."

Thanks blue, just for clarity for those that may not be familiar it is not an all or nothing.

Vesting conditions

The Board proposes that Mr Hanoch is granted 750,000 Performance Rights, equivalent to 220% of Mr Hanoch’s total fixed remuneration. The number of Performance Rights to be granted to Mr Hanoch was calculated by dividing the FY2025 LTI opportunity (which comes to a value of A$1,500,000) by the VWAP of the Company’s ordinary shares over the three (3) trading days prior to Board approval of the grant. The Performance Rights will be granted with a Performance Period commencing on 8 October 2024 (subject to shareholder approval of this resolution) to 31 December 2025. Further details are set out below. The actual number of Performance Rights that will vest will depend on Weebit’s performance as set out below. These performance conditions have been selected due to their alignment with Weebit’s long term strategic goals. The details of the performance conditions are as follows:
(a) (b) (c) (d)

• 40% of the Performance Rights will be subject to a performance condition related to signing revenue-generating license agreements with 2 new top-tier integrated device manufacturers or foundries;
• 20% of the Performance Rights will be subject to a performance condition related to signing revenue-generating license agreements with an additional new integrated device manufacturer or foundry (which need not be a top-tier manufacturer);
• 30% of the Performance Rights will be subject to a performance condition related to signing a revenue-generating agreement with respect to licensing of or commencing development of at least 3 products using Weebit ReRAM technology;
• and 10% of the Performance Rights will be subject to a performance condition related to qualification based on the JEDEC definition. Performance Rights will vest and become exercisable when the performance condition has been satisfied and will be subject to a further time-based vesting condition as set out below.

looking forward to 4c tomorrow.