Executive Director Contract Extension
Updated : 08:12
ASX-RNS Announcement
30 June 2020
ASX: OEX
AIM: OEX
Executive Director Contract Extension
Oilex Ltd (the Company) is pleased to announce that Mark Bolton's term as Executive Director and Company Secretary of the Company has been extended to 31 December 2020.
For and on behalf of Oilex Ltd
Joe Salomon
Managing Director
For further information, please contact:
Investor Enquires Oilex Ltd Joe Salomon Managing Director Email: oilex@oilex.com.au Tel: +61 8 9485 3200 Australia | AIM Broker Novum Securities Broker Colin Rowbury Email: crowbury@novumsecurities.com Tel: +44 20 7399 9427 UK | AIM Nominated Adviser Strand Hanson Limited Nominated Adviser Rory Murphy/Ritchie Balmer Email: oilex@strandhanson.co.uk Tel: +44 20 7409 3494 UK | Media Enquires (UK) Vigo Communications Public Relations Patrick d'Ancona/Chris McMahon Email: patrick.dancona@vigocomms.com chris.mcmahon@vigocomms.com Tel:+ 44 20 7390 0230 UK |
SUMMARY OF KEY TERMS OF EMPLOYMENT FOR MARK BOLTON
This summary below sets out the key terms and conditions of the executive employment agreement (Agreement) between Mr Mark Bolton and Oilex Ltd.
Commencement of employment and appointment
Mr Bolton's employment with Oilex is effective from 10 June 2016.
Position
Mr Bolton is an Executive Director, Chief Financial Officer and Company Secretary of the Company.
Term
The Agreement terminates on 31 December 2020 (Term). The Agreement may be extended by mutual agreement one month ahead of expiry of the Term.
Remuneration
Salary
On the basis of one day per week, Mr Bolton's Fixed Annual Remuneration (FAR) is A$47,500 per annum, plus of statutory superannuation contribution, and is to be reviewed annually.
Termination
Mr Bolton may resign by giving Oilex 1 months' written notice. The Company may terminate Mr Bolton's employment by giving 1 months' written notice.
Restraint Clauses
Mr Bolton is restrained from engaging in competitive business with the Company, or soliciting clients, employees or contractors from the Company, during his employment.
Confidentiality Provisions
Standard confidentiality provisions apply.
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