VOLT RESOURCES LIMITED — Board/Management Information 2011

Jul 21, 2011

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MOZAMBI COAL LTD

(ASX: “MOZ”, “Company” or “Mozambi”)

ASX RELEASE

22 JULY 2011

AGREEMENT OF TERMS WITH MANAGING DIRECTOR / CEO

Mozambi Coal Limited announces that it has finalised the terms of a consultancy agreement with Mr Shiv Madan the Company’s Managing Director and CEO. Per ASX Listing Rule 3.1 and ASX Policy on Disclosure of CEO Remuneration, a summary of the key terms and conditions of the consultancy agreement governing Mr Madan’s appointment are set out below.

appointment are set out below.
ITEM	DESCRIPTION
Term	Initial 3 year term with effect from 1 March 2011. The Company and the Consultant may agree to extend the Term bymutual written agreement
Remuneration	Fixed Remuneration $24,000 per calendar month Signing Bonus The Company shall pay Mr Madan a signing bonus of $20,000 at the commencement of the Term, and an additional $20,000 after three months from commencement of the Term. Discretionary Bonus At the sole discretion of the Board, Mr Madan may be offered up to $120,000 as a cash bonus at the end of each calendar year in recognition of achievement of the Company’s objectives
Termination	The Board may terminate the consultancy agreement at any time by giving not less than three months notice in writing; or immediately in instances of misconduct. Mr Madan may terminate the agreement by giving not less than three months notice in writing
Entitlements upon termination	Nil

Ryan Broom

Company Secretary

Mozambi Coal Limited ACN 106 353 253 Level 2, 640 Murray Street, West Perth, Western Australia 6005 Tel: (+618) 9321 0774 Fax: (+618) 6314 1557