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NANOSONICS LIMITED Board/Management Information 2011

Dec 18, 2011

65405_rns_2011-12-18_0945ee9f-328d-4369-80f5-77701f8bc168.pdf

Board/Management Information

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19 December 2011

Company Announcements Office Australian Securities Exchange

Appointment of Managing Director / Chief Executive Officer

In line with the ASX Corporate Governance Council recommendations Nanosonics Limited (ASX Code: NAN) sets out below the key terms and conditions of Dr Weinberger’s new contract.

Nanosonics formally announces the appointment of Dr Ronald Peter Weinberger as Managing Director and Chief Executive Officer (CEO) effective immediately. Dr Weinberger has been invited to take the permanent CEO role as a reflection of the strong contribution he has made to the Company’s development and focus since his appointment as interim CEO in May 2011.

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Dr Weinberger joined the Company in August 2004 and was appointed Executive Director in July 2008. Dr Weinberger’s remuneration comprises fixed and variable components. The fixed remuneration may be provided as a combination of cash and non-cash benefits and is inclusive of all normal and statutory entitlements, including superannuation. Consistent with Nanosonics’ senior executive employment contracts either party is required to give three months notice to terminate the employment contract.

The variable remuneration includes a performance bonus arrangement (STI) whereby an agreed percentage of the base salary (excluding superannuation) can apply on the achievement of certain defined KPI targets. Longer term incentives (LTI) will be provided through the Nanosonics share and share option plans (subject to the normal shareholder approvals).