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USCOM LIMITED — Remuneration Information 2011
Sep 19, 2011
65979_rns_2011-09-19_da1f78c3-ff40-4d91-b68a-f150dcd846d4.pdf
Remuneration Information
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ABN 35 091 028 090 Suite 1, Level 7, 10 Loftus Street Sydney NSW 2000 Australia T +612 9247 4144 F +612 9247 8157 www.uscom.com.au
Uscom Limited
M A R K E T A N N O U N C E M E N T
CEO remuneration
Tuesday 20th of September 2011: Uscom (ASX code: UCM).
Uscom (ASX code: UCM) today makes a statement regarding its Chief Executive Officer (CEO) remuneration package.
On 16th of September 2011, UCM announced the appointment of Mr Joe Trygar as the Company's new CEO.
The CEO will be remunerated with a base salary of US$160,000.
In addition, a variable component of US$90,000 per annum will be paid based on achievement of agreed sales targets in both unit sales and revenue.
The full on target earnings is US$250,000.
In addition to the salary, Mr. Trygar will receive medical benefits up to US$30,000, 15 days annual paid leave and 8 days annual paid sick leave.
Mr. Trygar will be granted 500,000 options under the Uscom Executive Share Option Plan on the following terms.
| Vesting | Exercise price | |
|---|---|---|
| Year 1 | 125,000 | A$0.75 |
| Year 2 | 125,000 | A$1.00 |
| Year3 | 125,000 | A$2.00 |
| Year 4 | 125,000 | A$3.00 |
All options are subject to attainment of agreed targets.
The term of the contract is 12 months with one months notice period provided by either party.
About Uscom
Uscom Limited is an Australian medical device company which was first listed on the Australian Stock Exchange in December 2003. Uscom has developed a Non Invasive Cardiac Output Monitor. The USCOM is a simple, cost-effective and non-invasive device that measures heart function, detects irregularities and guides treatment. The USCOM device has major applications in Paediatrics, Emergency Medicine, Intensive Care Units and Anesthesia, and is a tool of choice for management of adult and paediatric sepsis, and for the guidance of all fluid administration. USCOM has global regulatory approval and the technology is currently marketed in North America, South America, Europe, the Middle East, India, Australia & New Zealand. China and SE Asia.
Uscom Contacts Phil Kiely Executive Chairman [email protected]
Daniel Fah Company Secretary [email protected]