40 2022 ANNUAL REPORT 12. REMUNERATION REPORT (AUDITED) (cont.) 12.8 DETAILS OF REMUNERATION (cont.) The relative proportions of remuneration that are linked to performance and those that are fixed are as follows: Fixed At risk – short term incentives At risk – long term incentives 2022 2021 2022 2021 2022 2021 Executive Director Mark Williams 60% 72% - - 40% 28% Non-Executive Directors Kevin Dundo 100% 100% - - - - Ian Macpherson 100% 100% - - - - Colin Loosemore 100% 100% - - - - Steven Tombs 100% 100% - - - - Andrea Sutton 100% 100% - - - - Fiona Harris 100% - - - - - Executives Jason Greive 67% 64% - 30% 33% 6% John Tasovac 60% 70% 8% 4% 32% 26% Brendon Shadlow - 46% - 7% - 47% 12.9 ADDITIONAL REMUNERATION DISCLOSURES 12.9.1 Executive Service Contracts Remuneration and other terms of employment for executive KMP’s are formalised in service agreements. The service agreements specify the components of remuneration, benefits and notice periods. Participation in STI and LTI plans is subject to the Board’s discretion. Other major provisions of the agreements relating to remuneration are set out below: Executive KMP Position Terms of agreement TFR including superannuation effective July 2022 Notice period Termination benefit Mark Williams Managing Director No fixed term $725,000 3 months 12 months Jason Greive Chief Operating Officer No fixed term $578,000 3 months 3 months John Tasovac (a) Chief Financial Officer No fixed term $442,000 3 months 6 months Patrick Duffy (a) Chief Financial Officer No fixed term $450,000 3 months 3 months (a) Mr Duffy will be appointed the role of Chief Financial Officer effective from 1 September 2022 following the resignation of Mr Tasovac from the Company on 31 August 2022. 12.9.2 Options granted to key management personnel No options over ordinary shares were held or granted during the year to executive officers of Red 5 as part of their remuneration. No shares were issued during the year as a result of the exercise of options granted as part of remuneration. DIRECTORS’ Report (cont.)
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