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6. Contractual arrangements for executive KMP
Term of agreement
and notice period
1
Base remuneration
including
Superannuation
2
Termination
Payments
3
Parent Company
T J Barlow
No fixed term
6 months notice period
$1,000,000
6 months base
remuneration
M R Roderick
No fixed term
3 months notice period
$675,000
3 months base
remuneration
I D Bloodworth
No fixed term
3 months notice period
$350,000
3 months base
remuneration
New Hope
Corporation Limited
S O Stephan
No fixed term
6 months notice period
$1,300,000
6 months base
remuneration
A L Boyd
No fixed term
3 months notice period
$650,000
3 months base
remuneration
M J Busch
No fixed term
3 months notice period
$600,000
3 months base
remuneration
1. This notice applies equally to either party.
2. Base remuneration including Superannuation as at 31 July 2016.
3. Base salary payable if the company terminates employees with notice, and without cause (e.g. for reasons other than unsatisfactory
performance).
7. Share-based Compensation
Parent Company
Rights to deferred shares are granted under the WHSP Long Term Incentive Plan. Rights are granted for nil
consideration. Rights are granted in accordance with the plan at the sole discretion of the WHSP Board. They vest
and automatically convert to ordinary shares in WHSP following the satisfaction of the relevant performance and
service conditions. Performance and service conditions applicable to each issue of Rights are determined by the
Board at the time of grant. Rights granted under the plan carry no dividend or voting rights.
The assessed fair value of the Rights at grant date is allocated equally over the period from grant date to vesting
date and these amounts are included in the remuneration of the executive. The fair value of the rights was
independently determined by valuation specialists Lonergan Edwards & Associates Limited based on the market
price of WHSP’s shares at the grant date, with an adjustment made to take into account the vesting period,
expected dividends during that period that will not be received by the participants and the probability that the
market performance conditions will be met.