re: Ann: New Executive Contracts provide cost... Bill,I am...

re: Ann: New Executive Contracts provide cost... Bill,

I am confused with your post about the salaries:

"The RAI 3 directors outstanding deal of $350,000 has just got even better with $225,000 and $250,000"

The announcement says:

"Salary component of $225,000 per annum, increasing to $250,000 per annum upon settlement of the dispute with Blade Petroleum Limited, compared to previous salaries of $325,000 for Mr Steketee and $300,000 for Mr Durrant."

So deal didn't just get better for Steketee and Durant as their salaries just got cut by 44% & 33% respectively?

Outstanding/unpaid salaries will be paid via 5c options which are exercisable at double the current share price...or they won't get paid/be worth anything if the share price doesn't get to 5c.

In relation to your comparison of RAI Executive Directors' remuneration compared to "Albers other companies have directors on $60,000 - $100,000 plus options" according to your contacts, I find that a bit hard to believe, unless you are comparing apples with oranges?

If the amounts from your contacts are correct then it is very likely that they are Non-Executive Directors who meet a few times a year to check the progress of the company and set strategic goals..not Executive Directors like Steketee and Durant who manage the day-to-day running of the company...unless the options part on top of the $60-$100k is $100k+?

Listed company Managing Directors/CEO's don't work for $60k a year...that's more like Maccas or KFC shift manager wages???