“It is the Board’s policy that employment agreements are entered into with all executive directors, executives and employees. No current employment contracts contain early termination clauses. All non-executive directors have contracts of employment.
Stephen Bizzell is engaged as Executive Chairman. His agreement is a consultancy style agreement for the provision of services. Services are invoiced at a weekly rate of $2,320.
Paul Marshall is engaged as Company Secretary and CFO. His agreement is a consultancy style agreement for the provision of services. Services are invoiced at a weekly rate of $2,500.”
Do the math, there’s a lot of weeks of pay going on here for little or no result. Furthermore, when the wet seasons hit, the consultants don’t get paid to sit around.
LNY Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
