Remuneration Report – Audited (continued) iv. Employment Details of Key Management Personnel Brian Rodan – Managing Director From 1 July 2020 the Company entered into an Executive Agreement withMr Rodan, comprising an initial annual salary of $170,000 on an indefinite term. Either Party can terminate the agreement subject to a one-month notice period (with reason) or a six-month notice period (without reason). Mr Rodan is not entitled to any termination payments other than for services rendered at time of termination and accrued leave entitlements. Under the terms of his appointment as Managing Director of the CompanyMr Rodan was entitled to director’s fees of $40,000 per annum. Commencing 1 September 2022, the annual salary component increased to $200,00 and his director’s fees to $50,000 per annum. Paul Angus – Technical Director Under the terms of his appointment as Mr Angus was entitled to a director’s fee of $40,000 per annum. Commencing 1 September 2022, his director’s fee increased to $50,000 per annum. In addition to his director’s fees, Mr Angus provides technical consulting services to the Company pursuant to the Consultancy Agreement summarised in Note 21 at a rate of NZ$220 per hour to a maximum of NZ$1,760 per day. Keith Murray – Non-Executive Director Under the terms of his appointment as a Non-Executive Director Mr Murray was entitled to a director’s fees of $35,000 per annum. Commencing 1 September 2022, his director’s fee increased to $50,000 per annum. Consequences of performance in shareholder wealth In considering the Group’s performance and benefits of shareholders’ wealth, the Board have regard to the following indices in respect of the current financial year and the previous four financial years. 2022 2021 2020 2019 2018 Total comprehensive loss for the year (1,645,546) (1,421,901) (1,460,182) (240,931) (801,333) Earnings per share (cents per share) (1.638) (1.574) (3.464) (1.307) (6.345) Share Price 0.18 0.28 0.70 N/A N/A v. Key Management Personnel (KMP) Remuneration Details of the nature and amount of each major element of the remuneration of each Director of the Company and other KMP of the Group are: Year Ended 31 December 2022 Primary Postemployment Equity Compensation Proportion of remuneration performance related Value of options and rights as proportion of Director’s remuneration Directors Salary & Fees $ Consulting Fees $ Termination Payments $ Superannuation Benefits $ Options & Rights $ Total $ % % Executive Brian Rodan 238,718 - - 24,540 - 263,258 - - NonExecutive Paul Angus 43,333 339,490 - - - 382,823 - - Keith Murray 40,000 - - 4,113 - 44,113 - - Total - KMP 322,051 339,490 - 28,653 - 690,194 - - Directors’ Report for the year ended 31 December 2022 Siren Gold Limited 42
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