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0f5b0ee5-acec-4a1f-b07b-eb2e70f5fc3a.pdf
ANNOUNCEMENT
5 April 2016
TERMS OF APPOINTMENT OF CEO
On 21 March 2016, Medusa Mining Limited (Medusa or the Company) announced that Mr Boyd Timler had been appointed as the Company's Chief Executive Officer.
Medusa is pleased to announce that the terms of Mr Timler's appointment are now finalised and in compliance with ASX Listing Rule 3.16.4, a summary of the key terms of the Employment Contract between the Company and Mr Timler is attached.
For further information please contact:
Peter Alphonso, Chief Financial Officer / Company Secretary
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+61 8 9367 0601
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CHIEF EXECUTIVE OFFICER EMPLOYMENT CONTRACT - KEY TERMS
Name:
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Boyd Timler
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Position:
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Chief Executive Officer
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Term
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No fixed term. Commenced on 21 March 2016 and will continue until either party terminates the contract.
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Fixed remuneration:
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$550,000 per annum, inclusive of superannuation. Mr Timler's remuneration and benefits will be reviewed annually.
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Incentive arrangements:
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Medusa may (in its absolute discretion) grant to Mr Timler:
Mr Timler may be eligible for an annual bonus. Mr Timler's eligibility for, and the quantum of, any such bonus is at Medusa's absolute discretion.
Except as required by legislation, share options, performance rights and bonuses do not form part of Mr Timler's remuneration package for the purposes of calculating payment in lieu of notice or any other entitlement.
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Termination of employment or resignation with notice:
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Medusa may terminate Mr Timler's employment for any reason (or no reason) by giving to Mr Timler four months' written notice, payment in lieu of such notice or a combination of both.
Mr Timler may resign by giving Medusa three months' written notice.
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Medusa Mining Ltd
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EXPLORATION STAGE |
CODE : MML.AX |
ISIN : AU000000MML0 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Medusa Mining is a gold and copper producing company based in Australia. Medusa Mining holds various exploration projects in Philippines. Its main exploration properties are CO-O, CORPLEX, ABACUS, ANOLING and APICAL in Philippines. Medusa Mining is listed in Australia, in Canada, in Germany and in United Kingdom. Its market capitalisation is AU$ 125.7 millions as of today (US$ 90.7 millions, € 89.2 millions). Its stock quote reached its highest recent level on June 03, 2011 at AU$ 8.60, and its lowest recent point on June 27, 2017 at AU$ 0.27. Medusa Mining has 207 790 000 shares outstanding. |