IPO - UUV Aquabotix Ltd, page-235

Employment Agreements – Debra Tavares and Dawn Doraz Debra Tavares and Dawn Doraz, the wife and daughter respectively of Durval Tavares (a Director), have contracts of employment with Aquabotix for the respective roles of Vice President (Administration) and Vice President (Marketing). They have been employed by Aquabotix since its inception. Each of Mrs Tavares and Ms Doraz are paid an annual salary of US$50,000 (being approximately $68,493 assuming an exchange rate of AU$1.00:USD$0.73) for 20 hours of work per week. Each contract of employment can be terminated by either party without cause and without notice.

What are people's thoughts on this? 50K each for 2o hours of work when you are running Marketing and Admin respectively seems somewhat questionable. Am not not referring to the remuneration solely, but moreso the fact they only do 20 hours work a week. The company can now afford to have tem on board full time, so they can go after the opportunity ahead of them. So why the part time roles?

In addition, do we have any information as to their qualifications and whether they are the right people for the job? Alot of start ups involve family as they try to establish themselves which is great, however once you become a public company you should justify these situations in the interests of full transparency.

BTW i have no reason to believe they are not the right people for the roles and am merely asking if anyone has asked these questions prior and if so what answers were given.