for the year ended 30 June 2024 FINANCIAL REPORT REMUNERATION REPORT (AUDITED) 50 Westgold Resources Limited Annual Report 2024 7. EXECUTIVE EMPLOYMENT ARRANGEMENTS A summary of the key terms of employment agreements for executives in place at 30 June 2024 is set out below. There is no fixed term for executive service agreements and all executives are entitled to participate in the Company’s STI and LTI plans. The Company may terminate employment agreements immediately for cause, in which the executive is not entitled to any payment other than the value of fixed remuneration and accrued leave entitlements up to the termination date. Name Base Salary $ Superannuation Notice Period Termination Payment1 WC Bramwell (Managing Director) 650,000 11% 6 months Per ESA SH Heng (Chief Financial Officer) 424,000 11% 3 months Per ESA PW Wilding (Chief Operating Officer) 488,000 11% 3 months Per ESA 1 ESA refers to Westgold’s Executive Service Agreement 8. NON-EXECUTIVE DIRECTOR (NED) REMUNERATION NED Fee Policy The NED fee policy is designed to attract and retain high calibre directors who can discharge the roles and responsibilities required in terms of good governance, strong oversight, independence and objectivity. The Company’s constitution and the ASX listing rules specify that the NED fee pool limit, shall be approved periodically by shareholders. The last determination was at the Annual General Meeting of shareholders on 26 November 2021 with an aggregate fee pool of $750,000 per year. The amount of the aggregate remuneration sought to be approved by shareholders and the manner in which it is paid to NEDs is reviewed annually against comparable companies. The Board also considers benchmarking data when undertaking the review. Non-executive directors are encouraged to hold shares in the Company and align their interests with the Company’s shareholders. The shares are purchased by the directors at the prevailing market share price. NED Remuneration Structure The remuneration of NEDs consists of director’s fees. There is no scheme to provide retirement benefits to NEDs other than statutory superannuation. NEDs do not participate in any performance-related incentive programs. Fees paid to NEDs cover all activities associated with their role on the Board and any sub-committees. NEDs are entitled to fees or other amounts as the Board determines where they perform special duties or otherwise perform extra services on behalf of the Company. They may also be reimbursed for out-of- pocket expenses incurred as a result of their directorships. POSITION FY241 FY231 Non-Executive Chair 180,000 175,000 Non-Executive Director 105,000 95,000 1 Base fees are exclusive of superannuation.
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