Icon Energy Annual Report 2025 13 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 No Short-Term Incentives (STI) were awarded or accrued for any Director or employee during the year ended 30 June 2025. 6. LONG-TERM INCENTIVES No Long-Term Incentives (LTI) were granted during the financial year ended 30 June 2025. The Company’s Performance Rights Plan expired in 2017, and no new plan has been proposed to shareholders since that time. 7. SERVICE AGREEMENTS The Company’s policy for Executive and Senior Managers service agreements 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 2025, there were no other Key Management Personnel. Consequently, there were no service agreements/contracts in force during the 2024/2025 financial year. 8. REMUNERATION OF EACH MEMBER OF KEY MANAGEMENT PERSONNEL AND DIRECTORS FOR THE CONSOLIDATED ENTITY As of 1 October 2023, the Board voluntary suspended Directors’ fees. Consequently, no remuneration was paid or accrued to Directors or any other KMP for the financial year ended 30 June 2025. Table 1: Directors and Key Management Personnel Remuneration for the year ended 30 June 2024 Short Term Post– employment Salaries & Fees (i) $ Other Benefits $ Super– annuation $ Long–term Employee Benefits $ Termination Benefits $ Total $ Non–executive Directors Stephen Barry(ii) 21,200 – 2,332 – – 23,532 Ray James 27,781 - 3,056 - - 30,837 Jeffrey Marvin(iii) 17,000 - 1,949 - - 18,949 Peter Wilson(iv) 3,898 - 429 - - 4,327 Total 69,879 - 7,766 - - 77,645 (i) As of 1 October 2023, the Board voluntary suspended Directors’ fees. Consequently, no Directors’ fees have been accrued or paid since 1 October 2023. (ii) This represents Mr Barry’s remuneration for the period to 8 September 2023. (iii) This represents Mr Marvin’s remuneration as a Non-Executive Director prior to his appointment as Managing Director. (iv) Mr Wilson was appointed as a Non-Executive Director on 8 September 2023.
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