VERBREC LIMITED — Board/Management Information 2019

Jun 18, 2019

ASX Announcement 19 June 2019

Variation to Chief Executive Officer’s Terms of Employment

LogiCamms Limited (ASX: LCM ) announces that the employment contract of its Chief Executive Officer, Mr Chris O’Neill, has been materially varied as follows:

Effective Date and Term

The changes to Mr O’Neill’s employment contract are effective from today and the contract continues on an ongoing basis with no fixed term.

Incentive

The incentives under Mr O’Neill’s previous employment contract remain as previously announced on 22 November 2018, save and except that the specified financial targets for the Long Term Incentive are subject to adjustment by agreement between Mr O’Neill and the Board following formal approval of the Company’s FY2020 budget (which will occur subsequent to the Company’s Extraordinary General Meeting on 24 June 2019 to approve the proposed merger with the OSD Group).

The proposed merger with OSD Pty Ltd does not trigger a partial award of Mr O’Neill’s incentives. However, in the event of any change of control of the Company on or after 27 November 2019, and subject to the Board’s absolute discretion, Mr O’Neill may be entitled to a payment calculated on a partial award of his incentives.

Termination

Mr O’Neill’s notice period for termination by either party, other than for summary termination, has been adjusted to 12 months’ notice, with this notice period reducing by 1 month every 2 months following execution of the new employment contract, until such time as the notice period is 6 months, following which the notice period will remain 6 months.

In the event that Mr O’Neill’s employment is terminated by the Company prior to 26 November 2019, other than for summary termination, Mr O’Neill will be entitled to payment calculated on a partial award of his incentives.

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Further information

Charles Rottier Director +61 7 3058 7000

David Shaw Company Secretary +61 7 3058 7000

About LogiCamms

LogiCamms is an agile, flexible engineering and related services company which draws upon our wealth of experience to deliver innovative tailored solutions to our clients, including leading owners and operators of minerals and metals, hydrocarbons and infrastructure assets. The Company works to reduce costs, increase efficiencies, and enhance the value of our customers’ operations. LogiCamms is also an Australian leader in the provision of automation and control systems. LogiCamms is an Australian Securities Exchange listed Company (ASX: LCM ) with offices across Australia, New Zealand and Papua New Guinea. LogiCamms’ Vision is to be a market leader delivering outstanding customer solutions.

LogiCamms Limited ASX:LCM ACN 127 897 689 www.logicamms.com.au

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