Leyshon Resources Limited Managing Director's Terms of Employment (3255A)

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

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