Axiom 2014 Annual Report - page 40

Directors’ Report
38
Axiom Mining Limited
continued
e. Remuneration of specified Directors and specified executives
Short-term benefits
Post-employment
benefits
Share-based
Payment
S300A(1)
(e)(i)
Proportion of
remuneration
performance
related
%
S300A(1)
(e)(vi)
Value of share
rights as
proportion of
remuneration
%
Twelve
months to
30 September
Directors’
Fees
$
Non-
monetary
benefits
$
Super-
annuation
$
Retirement
benefits
$
Performance*
Rights
$
Total
$
Non-executive
directors:
Stephen Ray
Williams
2014
50,000
–
4,656
–
39,205 93,861
–
42%
2013
50,000
–
4,531
–
– 54,531
–
–
Neil Francis Stuart
2014
–
–
–
–
–
–
–
–
2013
8,750
–
–
–
– 8,750
–
–
Anthony Faillace
2014
–
–
–
–
–
–
–
–
2013
–
–
–
–
–
–
–
–
Total Remuneration
2014
50,000
–
4,656
–
39,205 93,861
42%
2013
58,750
–
4,531
–
– 63,281
* Performance rights were granted in April 2013 following approval by shareholders at the Annual General Meeting held on 22 April 2013.
The performance rights are charged to expense over the life of the rights. The expense in relation to the performance rights is calculated
as fair value using the Black-Scholes model. For further disclosure in respect of the share-based payment see part (c) Performance Rights
Plan of the remuneration report.
Performance rights issued will automatically vest into fully paid ordinary shares upon specific conditions being achieved. The
performance condition is a market hurdle as disclosed in part (c) Performance Rights Plan of the remuneration report. The amounts that
appear are amounts required under Australian Accounting Standards to be expensed by the Company in respect of the allocation of
long term incentives. Whether or not these performance rights are received will depend on achieving appropriate vesting conditions as
discussed above. No performance rights were exercised during the year.
GROUP FINANCIAL REPORT
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