remuneration packages, page-4

Maybe the management and board can take a leaf out of the book of Pacific Brands - that by the way is an operating entity - not a start up!

They have done this to avoid a 'strike 2' as they are in the same situation as NuSep!

Regards...........

"Pacific Brands is holding its annual general meeting in Melbourne, and executive pay is also on the agenda, given the company's poor performance over a number of years.

After getting a first strike against its remuneration report from shareholders last year, the company's board is clearly focussed on trying to avoid a second strike and resulting board spill.

Pacific Brands chairman Peter Bush says the company has reduced the base and committee fees for non-executive directors by 25 per cent, imposed a salary freeze on most senior management, and a introduced a 50 per cent reduction in short term incentives for executives.

Mr Bush says the cuts to pay and bonuses reflect the reduced size and market value of the company, as well as the difficult trading conditions."