Leyshon Resources Limited Managing Director's Terms of Employment (3255A)
February 18 2014 - 4:21AM
UK Regulatory
TIDMLRL
RNS Number : 3255A
Leyshon Resources Limited
18 February 2014
L E Y S H O N R E S O U R C E S
18 February 2014
MANAGING DIRECTOR'S TERMS OF EMPLOYMENT
The Board of Leyshon Resources Limited (AIM/ASX: LRL) ("Leyshon"
or the "Company") announces the material terms of the employment
agreement with Mr Corey Nolan who was appointed to the position of
Managing Director on 14 February 2014:
-- An annual base salary of A$200,000 plus employer superannuation contributions
-- The agreement is for no fixed term
-- An annual Short Term Incentive (STI) bonus scheme of up to
50% of base salary to be based on achievement of specific
performance targets to be agreed between the Company and Mr
Nolan.
-- An annual Long Term Incentive (LTI) entitlement to be based
on achievement of specific performance targets to be agreed between
the Company and Mr Nolan.
-- If Mr Nolan's contract is terminated, other than for neglect
of duty or gross misconduct, then the Company shall pay to Mr Nolan
a Termination Payment of six months of base salary. In the event
that the Termination Payment exceeds the amount calculated in
accordance with section 200F of the Corporations Act or Chapter
10.19 of the ASX Listing Rules, then the Termination Payment will
be reduced by such amount as is necessary so as to not exceed the
amount permitted.
For further information please contact:
Leyshon Resources Limited
Murray Wylie - Company Secretary
Tel: +61 8 9321 0077
admin@leyshonresources.com
Cantor Fitzgerald Europe
David Porter/Rick Thompson (Nominated Adviser)
Richard Redmayne (Corporate Broking)
Tel: +44 (0)207 894 7000
http://www.leyshonresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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