Directors’ Report continued ANNUAL Report June 2022 Directors’ Report 15 (iii) Loans to Key Management Personnel No loans have been made to Key Management Personnel of the consolidated Group, including their personally-related entities. (iv) Other Transactions and Balances No other transactions were entered into with Key Management Personnel during the financial year other than those disclosed in Note 32 (d). (f) Options and Performance Rights Granted as Remuneration No Options nor Performance Rights were granted by the Company to the Directors and Executives of the Group during the financial year as part of their remuneration. (g) Equity Instruments Issued on Exercise of Remuneration Options or Rights No equity instruments were issued during the 2022 financial year to Directors or other Key Management Personnel as a result of options or rights exercised that had previously been granted as remuneration. (h) Service Agreements Remuneration and other terms of employment for the Directors and Executives are formalised in Service/Appointment Agreements. All contracts with Directors and executives may be terminated by either party with regards to the stipulated notice period, subject to any termination payments as detailed below. Directors O. Kleinhempel There is a written agreement with Mr Kleinhempel dated 12 August 2019 in his role as a Non-executive Director of the Company and subsequently as Non-Executive Chairman on 24 April 2020. Cash payments and benefits totalling $48,000 were paid to Mr Kleinhempel during the 2022 financial year. S. Layton There is a written agreement with Mr Layton dated 9 November 2017 in his role as a Non-executive Director of the Company. Cash payments and benefits totalling $48,000 were paid to Mr Layton during the 2022 financial year. The payments were made through Bodie Investments Pty Ltd, a company in which Mr Layton has a substantial interest. R.D. Morrow There is a written agreement with Mr Morrow dated 22 February 2021 in his role as a Non-executive Director of the Company. Payments and benefits totalling $48,000 were paid to Mr Morrow during the 2022 financial year. Z.P. Yeo There is a written agreement with Mr Yeo dated 12 August 2019 in his role as a Non-executive Director of the Company. Cash payments and benefits totalling $48,000 were paid to Mr Yeo during the 2022 financial year. Executives K.B. MacNeill There was a written agreement with Mr MacNeill dated 1 April 2021 in his role as Chief Executive Officer. The Company or Mr MacNeill may terminate the contract by giving three month’s written notice. Cash payments and non-monetary benefits totalling $405,004 were received by Mr MacNeill during the 2022 financial year. 46 EQ Resources Limited Annual Report 2022
RkJQdWJsaXNoZXIy MjE2NDg3