Per the Annual Report (10-K) that came out yesterday. I believe Mr. Nathanielsz can feed his family just fine. His car payments alone total over $40,000 a year along with a 9.5 percent contribution to a pension plan, a $400,000 AUD salary and a cash bonus of $300,000 AUD.
Under the Nathanielsz Employment Agreement (as defined below), Mr. Nathanielsz received a gross annual salary of $300,000 AUD per year through January 31, 2018. Effective February 1, 2018, the board approved an increase in Mr. Nathanielsz’ gross annual salary to $400,000 AUD. Mr. Nathanielsz has also accrued unused annual leave in the amounts of $20,383 and $17,415 for fiscal years 2018 and 2017, respectively, which are included in the total above.
(3) On March 16, 2018, the Board granted Mr. Nathanielsz a $300,000 AUD ($221,970 USD) cash bonus for accomplishments while servicing as our chief executive officer, of which $59,226 was paid in the year ended June 30, 2018.
(4) Under the Nathanielsz Employment Agreement, Mr. Nathanielsz receives a 9.5% contribution to a pension of which he is the beneficiary. In addition, pursuant to the Nathanielsz Employment Agreement, we may make a monthly payment to cover the costs relating to Mr. Nathanielsz use of a vehicle. For fiscal years 2018 and 2017, $41,481 and $40,562, respectively, was paid for use of a vehicle.
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