EZA is not the kind of company i personally would buy shares in, due to it not being within my sphere of knowledge & comfort
but EZA certainly have some bullish goals based on the performance milestones for director remuneration
i suppose one must place a little trust in the judgment of Mark Jones here, who has made two excellent investments (RLM & KRM) since joining OKJ
1,000 ATMs is alot of ATMs, which would value EZA at $1.40 per share
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The Company is a party to executive service agreements with Messrs Todd and Chad Zani respectively. The material terms of the agreements are on the same terms, and are as
follows:
(a) The executives will each be paid a salary of $150,000 per annum (inclusive of superannuation) and be entitled to an increase in annual salary of $25,000 for each 250 ATMs installed by the Company which each generate at least 685 transactions per month and a net revenue (after site owner payments and switching costs) of at least $1.00 per transaction.
(b) The Company will upon being admitted to the Official List, grant each executive 2,000,000 Options, which will vest upon the occurrence of the following performance
based milestones:
(i) 500,000 Options vest if the Company installs 500 ATM‘s which each generate at least 685 transactions per month and a net revenue (after site owner payments and switching costs) of at least $1.00 per transaction.
(ii) 750,000 Options vest if the Company installs 750 ATM‘s which each generate at least 685 transactions per month and a net revenue (after site owner payments and switching costs) of at least $1.00 per transaction.
(iii) 750,000 Options vest if the Company installs 1,000 ATM‘s which each generate at least 685 transactions per month and a net revenue
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