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DREADNOUGHT RESOURCES LTD — Board/Management Information 2023
Apr 5, 2023
64785_rns_2023-04-05_2ab751f7-a7b4-4b89-ad35-5e1116550c0c.pdf
Board/Management Information
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6 April 2023
Managing Director Contract Amendments
Dreadnought Resources Limited (ACN 119 031 864) ( Company, ASX:DRE ) wishes to advise of changes to the employment contract of Managing Director, Mr Dean Tuck, effective from 6 April 2023.
The Board completed a review process of all employment contracts which included benchmarking of employment terms against available market data to ensure that they were consistent with prevailing market conditions. Mr Dean Tuck’s contract, dated 9 April 2019, was included in this review. The Company advises that Mr Tuck’s employment terms have been updated to bring these into line with market terms.
In accordance with ASX Listing Rule 3.16.4, a summary of the material terms of Mr Tuck’s contract are set out in the Annexure to this announcement.
For further information please contact:
Dean Tuck Jessamyn Lyons Managing Director Company Secretary Dreadnought Resources Limited Dreadnought Resources Limited E:[email protected] E:[email protected]
This announcement is authorised for release to the ASX by the Board of Dreadnought.
Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 712, Osborne Park DC WA 6916
www.dreadnoughtresources.com.au [email protected]
+61 (08) 9473 8345
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Annexure – Material terms of employment contract with Mr Dean Tuck
| Term | No fixed term |
|---|---|
| Ongoing until terminated in accordance with its terms | |
| Salary | $250,000 per annum |
| In addition, the Company will pay superannuation | |
| contributions at the prevailing statutory percentage | |
| Incentives | At the discretion of the Company, eligible to participate |
| in incentive plans approved by the board of directors | |
| from time to time | |
| Notice Period | The employment may be terminated by either party |
| and | giving not less than six months’ notice |
| Termination entitlements | |
| The Company may also terminate immediately for cause | |
| In the event of a Fundamental Change, Mr Tuck will be | |
| able to resign on one months’ written notice and be | |
| entitled to a payment equivalent to six months’ notice | |
| (or the entire amount may be paid in lieu at the election | |
| of the Company) |
The employment agreement is otherwise considered to be on standard terms for an agreement of this nature.
Ends
Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 712, Osborne Park DC, WA 6916
www.dreadnoughtresources.com.au [email protected]
+61 (08) 9473 8345