Employment contracts of directors and executives The terms and conditions under which key management personnel and executives are engaged by the Company are formalised in contracts between the Company and those individuals. The Company has entered into an executive services agreement with Mr John Prineas whereby Mr Prineas receives remuneration of $350,000 per annum plus statutory superannuation. Mr Prineas or the Company may terminate the agreement by giving 12 months’ notice. The executive services agreement has no fixed period and continues until terminated. The Company has entered into a services agreement with Mr John Dawson, whereby Mr Dawson receives remuneration of $62,460 per annuum plus statutory superannuation. Mr Dawson or the Company may terminate the agreement by giving notice. The services agreement has no fixed period and continues until terminated. The Company has entered into service agreements with Ms Sarah Shipway whereby Ms Shipway receives remuneration of $62,460 per annum plus statutory superannuation and $80,000 plus statutory superannuation for the roles of Non-Executive Director and Company Secretary respectively. Ms Shipway may terminate the agreements by giving 3 months’ notice. The services agreements have no fixed period and continue until terminated. The Company has entered into a services agreement with Mr Kecheng Cai, whereby Mr Cai receives remuneration of $62,460 per annuum plus statutory superannuation. Mr Cai or the Company may terminate the agreement by giving notice. The services agreement has no fixed period and continues until terminated. The Company also agreed to pay a consulting fee of $20,000 per month from April 2024 to June 2024. INDEMNIFICATION AND INSURANCE OF DIRECTORS AND OFFICERS in accordance with the constitution, except as may be prohibited by the Corporations Act 2001, every Officer or agent of the Company shall be indemnified out of the property of the entity against any liability incurred by him/her in his/her capacity as Officer or agent of the Company or any related corporation in respect of any act or omission whatsoever and howsoever occurring or in defending any proceedings, whether civil or criminal. Shareholdings of key management personnel Directors Balance at 1 July 2023 Granted as remuneration Net other change Balance at 30 June 2024 J Prineas 17,011,255 – – 17,011,255 J Dawson 14,985,242 – – 14,985,242 S Shipway 1,226,402 – – 1,226,402 K Cai – – – – Total 33,222,899 – – 33,222,899 Performance Options holdings of key management personnel Directors Balance at 1 July 2023 Granted as remuneration Net other change Balance at 30 June 2024 Unvested Value of unvested Rights ($) J Prineas 8,000,000 – – 8,000,000 8,000,000 J Dawson 2,000,000 – – 2,000,000 2,000,000 S Shipway 2,000,000 – – 2,000,000 2,000,000 K Cai – – – – – – Total 12,000,000 – – 12,000,000 12,000,000 Each performance option converts to fully paid ordinary shares on achievement of certain milestones. Performance Rights Plan The Group operates a Performance Rights and Options Plan, approved at the Company’s Annual General Meeting held 9 November 2022. During the year ended 30 June 2023 the Company issued 22,500,000 performance options. At the date of this report there were 21,500,000 performance options on issue. There were no ordinary shares issued during the financial year from the exercise of the performance options. END OF REMUNERATION REPORT Directors’ Report continued 20 St George Mining Limited Annual Report 2024
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