Cue Energy Resources Limited Directors' report 30 June 2024 23 * Total remuneration $1,104,562 for FY 2023 includes the presentation of deemed compensation. The entire value of the $283,198 (i) solely arose from the technical application of disclosure requirements of the accounting standards, and (ii) the $283,198 is deemed only and neither the Company nor any member of the Consolidated Entity paid or in any way settled or has obligations to settle the aforementioned deemed remuneration of $283,198. The Consolidated Entity's actual obligations for the settlement of Directors' remuneration for FY 2023 was $821,364. ** Matthew Boyall's cash bonus consisted of $90,180 for achieving a 75% performance rating against 2022 key performance indicators (KPIs). The KPIs were measured against the actual results for the calendar year ending 31 December 2022. Mr Boyall is entitled to up to 30% of base salary in short term incentives. The proportion of remuneration linked to the Consolidated Entity's performance and the fixed proportion are as follows: Fixed remuneration Fixed remuneration At risk - STI At risk - LTI Name 30 June 2024 30 June 2023 30 June 2024 30 June 2023 30 June 2024 30 June 2023 Directors: Alastair McGregor* 100% 100% - - - - Andrew Jefferies* 100% 100% - - - - Peter Hood 100% 100% - - - - Marco Argentieri* 100% 100% - - - - Richard Malcolm 100% 100% - - - - Rod Ritchie 100% 100% - - - - Samuel Kellner* 100% 100% - - - - Other Key Management Personnel: Matthew Boyall 76% 85% 15% 15% 9% - * Alastair McGregor, Andrew Jefferies, Samuel Kellner and Marco Argentieri were not directly remunerated by the Company during the year ended 30 June 2024. (D) Equity based remuneration Overview of share options The Board in their meeting held on 24 June 2019 approved the Employee Share Option Plan ('ESOP'), which was subsequently approved by shareholders at 2019 Annual General Meeting. The ESOP has been developed to provide the greatest possible flexibility in choice to the Board in implementing the executive incentive schemes. The ESOP enables the Board to offer employees a number of Options. A summary of material terms of the ESOP is set out as follows: 37 Cue Energy Resources Limited Annual Report 2024
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