Ann: Appointment of Executive Director - Operations, page-3

It's great to have his experience but does anyone else think his package is a little too generous...?

- $480,0000 base salary ($2,000/day, assuming 8 hours a day, 5 days a week and 48 weeks a year) + super (=$525,600)

- 35% short term incentive (performance bonus potentially up to $168,000, annually?) 

- 9,000,000 options as a sign-on bonus (exercise price of ~30c per share) vesting in 3 tranches at 12, 24, 36 months. 

- 12 months salary in event of change of control of company (takeover)

- 12 months salary if we don't want him anymore. 

So if his performance indicators are met, it's costing us $693,600 per year in salary/super/bonus...plus the 9 million shares after 36 months... at least he will need to pay ~$2.5M to convert all the options should he elect to do so. 

Calderwood gets paid a lot less, and without all of the options? Let's see what Mr Turner can do...