Axiom Mining 2015 Annual Report

GROUP FINANCIAL REPORT

Directors’ report continued

32

Remuneration report (continued)

d. Service agreements (continued) Key management personnel employed during the current financial year but not at the date of this report:

Hans Vulker, Human Resources Manager (until 5 October 2015) – Terms of agreement: Appointed with no fixed term commencing 4 August 2014. – Total Remuneration Package of $160,000 plus superannuation per annum. – Bonus scheme at the Board’s discretion. Invitation to earn in 25,000 Performance Rights under the Employee

Performance Rights Scheme. – No bonus was issued in 2015. – Notice period of one month.

John Donald Macansh, Manager Exploration – Oceania (until 18 February 2015) – Terms of agreement: Appointed with no fixed term commencing 8 August 2014. – Total Remuneration Package of $205,000 plus superannuation per annum. – Bonus scheme at the Board’s discretion includes invitation to participate in the Employee Performance Rights Scheme.

– No bonus was issued in 2015. – Notice period three months.

e. Remuneration of specified Directors and specified executives

Post-employment benefits

Share-based Payment

S300A(1) (e)(i)

S300A(1) (e)(vi) Value of share rights as proportion of remuneration %

Short-term benefits

Proportion of remuneration performance related %

Non- monetary benefits $

Twelve months to 30 September

Directors’ Fees $

Super- annuation $

Retirement benefits $

Performance Rights* $

Total $

AXIOM MINING LIMITED ANNUAL REPORT 2015

Non-executive Directors: Stephen Ray Williams 2015

50,000**

– 4,750 – 4,656

– –

27,205 81,955 39,205 93,681

– –

33 42

2014

50,000

Jeremy Robin Gray 2015

10,806

– –

– –

– –

– 10,806

– –

– –

2014

–

–

–

Total Remuneration 2015

60,806 50,000

– 4,750 – 4,656

– –

27,205 92,761 39,205 93,861

– –

29 42

2014

* Performance rights were granted in April 2013 following approval by shareholders at the Annual General Meeting held on 22 April 2013. The performance rights are charged to expense over the life of the rights. The expense in relation to the performance rights is calculated as fair value using the Black-Scholes model. For further disclosure in respect of the share-based payment see part (c) Performance Rights Plan of the remuneration report. Performance rights issued will vest into fully paid ordinary shares upon speci c conditions being achieved. The performance condition is a market hurdle as disclosed in part (c) Performance Rights Plan of the remuneration report. The amounts that appear are amounts required under Australian Accounting Standards to be expensed by the Company in respect of the allocation of long term incentives. Whether or not these performance rights are received will depend on achieving appropriate vesting conditions as discussed above. No performance rights were exercised during the year. ** Fees were set at $80,000 effective from 1 March 2015, and paid subsequent to the year-end.