14 Icon Energy Annual Report 2024 In November 2017, the Company’s Performance Rights Plan ("Plan") expired. The Plan provided for the granting of appropriately structured short and long-term incentives to employees (including Executive Directors) in addition to their fixed remuneration. Since the expiration of the Plan, the Board decided not to seek shareholder approval for any new plan. At the date of this report, no employees are considered to be other key management personnel. Furthermore, no remuneration consultants were used by the Company during the year ended 30 June 2024 or in the prior year. 4. FIXED REMUNERATION Fixed remuneration consists of the base remuneration calculated on a total cost basis and includes FBT charges on employee benefits, if relevant, as well as contributions to superannuation funds. Remuneration levels are reviewed annually to ensure they remain competitive. 5. SHORT-TERM INCENTIVES For the 2023-24 financial year, the Company did not issue Short-term Incentives (STI). 6. LONG-TERM INCENTIVES For the 2023-24 financial year, the Company did not issue Long-term Incentives (LTI). 7. SERVICE AGREEMENTS The Company’s policy for service agreements with Executive and Senior Managers stipulates that these agreements should be of a limited term and include termination clauses ranging from two to twelve months. In the event of termination, the Company may make a payment in lieu of notice equivalent to the base amount prescribed in the service agreement for a relevant notice period. For Executive Directors, such payments are subject to the limits prescribed by section 200G of the Corporations Act 2001, or as determined by the Board, subject to shareholder approval at the time. In addition to the payment in lieu of notice, accrued statutory benefits and superannuation benefits are payable. During the year ended 30 June 2024, there were no other Key Management Personnel. Consequently, there were no service agreements/contracts in force during the 2023/2024 financial year. Directors' Report for the year ended 30 June 2024
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