Replies to post #378882 on Innovation Pharmaceuticals Inc (IPIX)

[zandant]

Performance from Laser Focused Leo has been missing for years. The Compensation Committee and Board of Directors are really the One Man Band voting to compensate himself and his 3 pals if these vague objectives are met:

["The employment agreement continues Mr. Ehrlich’s current base salary of $475,000 per year and provides for (i) performance share awards under the Company’s 2016 Equity Incentive Plan, as amended (the “Plan”) with a maximum value of up to $35.0 million, contingent upon the achievement of certain market capitalization, licensing revenue and clinical trial performance goals, and (ii) cash awards with a maximum value of up to $14.0 million, contingent upon the achievement of certain market capitalization and licensing revenue goals."]

What are the "certain market capitalization, licensing revenue and clinical trial performance goals" that need to be achieved for the $35 million in share awards and the $14 million cash for the achievement of "certain market capitalization and licensing revenue goals."? Knowing how Ehrlich operates, the threshold can be extremely low.

And the 225 million shares of common stock. Are those new shares being issued or if not, where are they coming from? Are those shares in addition to the 600 million already authorized?

["Amendments to the 2016 Equity Incentive Plan — The Compensation Committee approved, and the Board of Directors ratified, amendments to the Plan to increase the number of shares of common stock available for issuance thereunder to 225 million shares, among other amendments. The foregoing description of the amendments does not purport to be complete and is qualified in its entirety by the text of the amendments, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference."]

Finally, with the underserved stock option awards, is there a predetermined price to buy the shares and if so, what is that price, and is there an expiration date?

["Annual Stock Option Awards — The Compensation Committee approved stock option awards under the Plan relating to one million shares of common stock to each independent director and 500,000 shares of common stock to each of the non-independent director and the Company's Senior Vice President, Clinical Sciences and Portfolio Management.'}