Name: Errol Johnstone Title: Chief Geoscientist Agreement commenced: 4 October 2010 Term of agreement: No fixed term Details: Mr Johnstone’s fixed remuneration is $325,000 per annum (exclusive of statutory superannuation). The LTI will issue once every three years equating to a total value of $292,500. The executive can terminate the agreement with 1 months’ notice. The Company can terminate the agreement with 1 months’ notice, or payment in lieu thereof. Name: Dean Johnstone Title: Senior Geoscientist Agreement commenced: 3 October 2011 Term of agreement: No fixed term Details: Mr Johnstone’s fixed remuneration is $325,000 per annum (exclusive of statutory superannuation). The LTI will issue once every three years equating to a total value of $292,500. The executive can terminate the agreement with 1 months’ notice. The Company can terminate the agreement with 1 months’ notice, or payment in lieu thereof. Key management personnel have no entitlement to termination payments in the event of removal for misconduct. Share-based compensation Issue of shares There were no shares issued to Directors and other key management personnel as part of compensation during the year ended 30 June 2023 (2022: Nil, other than 31,812,050 performance rights that vested and then converted into ordinary shares by the Executive Chairman). Options There were no options over ordinary shares issued to Directors and other key management personnel as part of compensation that were outstanding as at 30 June 2023. Remuneration Report (audited) continued 28 Melbana Energy Limited Annual Report 2023
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