05-23-2014, 01:11 AM
On Home page have a link to this dated today:
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Annual Meeting info posted today on website
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05-23-2014, 01:16 AM
Summary Compensation table from Page 14-15: SUMMARY COMPENSATION TABLE The following table sets out information concerning the total compensation earned during the financial years ended December 31, 2013, 2012 and 2011, by: (i) each Chief Executive Officer holding that position during 2013; (ii) the Chief Financial Officer during 2013; (iii) the three other most highly compensated executive officers at December 31, 2013 whose total compensation was, individually, more than CDN$150,000 for the financial year ended December 31, 2013, and (iv) any person who was an executive officer during 2013 but who at December 31, 2013 had ceased to hold that position and whose total compensation was more than CDN$150,000 in that fiscal year. (collectively being the Named Executive Officers). All amounts were paid in U.S. dollars unless otherwise disclosed. Name and principal position Year Salary ($) Option based Awards(1) ($) Share-based Awards(2) ($) Non-equity incentive plan compensation(3) ($) All other compensation ($) Total compensation ($) Annual incentive plans PHIL E. MULACEK (4) Chief Executive Officer until April 30, 2013 2013 2012 2011 390,087 1,488,462 587,776 − − − 819,974 − − − − − 7,462,517(5) 190,911(5) 107,670(5) 8,672,578 1,679,373 695,446 MICHAEL HESSION Chief Executive Officer appointed July 11, 2013 2013 2012 2011 614,877 − − − − − 300,016 − − 284,565(19) − − 24,195 − − 1,223,653 − − - 15 - Name and principal position Year Salary ($) Option based Awards(1) ($) Share-based Awards(2) ($) Non-equity incentive plan compensation(3) ($) All other compensation ($) Total compensation ($) GAYLEN BYKER (7) Interim Chief Executive Officer from May 1, 2013 to July 10, 2013 2013 2012 2011 − − − − − − 205,917 195,240 200,021 − − − 297,250(8) 186,000(8) 76,5008) 503,167 381,240 276,521 COLLIN F. VISAGGIO (9)(10)(11) (18) (20) Former Chief Financial Officer 2013 2012 2011 674,072 658,311 466,464 − − − 584,520 − 240,023 126,008 124,272 92,869(11) 19,426(12)(13) 66,493 92,743 1,404,026 849,076 892,099 CHRISTIAN VINSON (14) Director & Executive Vice President until June 24, 2013 2013 2012 2011 589,714 1,155,744 375,122 − − − 437,309 − − − 300,000 150,000 1,509,867(15) 30,537 − 2,536,890 1,486,281 525,122 ISIKELI (KELI) TAUREKA (9)(18) Executive Vice President Corporate Development & Government Relations 2013 2012 2011 327,641 − − 2,391,622 − − − − − 120,309(19) − − 290,340(16) − − 3,129,912 − − WILLIAM JASPER III(17) (20) Former President & Chief Operating Officer 2013 2012 2011 510,178 511,246 276,875 − − − 313,563 − 210,020 299,640 266,500(17) 192,500(17) 20,000(6)(13) 115,082 13,651 1,143,381 892,828 693,046 GEOFFREY APPLEGATE (9) (18) General Counsel & Corporate Secretary 2013 2012 2011 621,188 55,296 − − − − 199,961 200,000 − 155,809(19) − − − 1,701 − 976,958 256,997
05-23-2014, 01:23 AM
For closing the deal with Total Hession gets: "With respect to Dr. Michael Hession, the applicable Milestones are as follows: (1) SPA Completion; (2) date of the owners’ decision in respect of the SPA Completion to proceed to prepare a basis of design for any LNG project with a capacity of at least two trains in which InterOil holds an equity
interest (or is in receipt of a royalty in lieu of an equity interest) (a “Series 1 LNG Project&rdquo date of the completion of the basis of design in respect of a Series 1 LNG Project; (4) the date the owners decide to commence front end engineering and design in respect of a Series 1 LNG Project; (5) the date of the taking of a final investment decision by the owners in respect of a Series 1 LNG project; and (6) the date on which the first cargo is loaded on to a vessel in respect of a Series 1 LNG Project for delivery to a customer. In addition, in certain circumstances six additional Milestones will apply to Dr. Hession as follows: (1) the completion and approval by all relevant parties of a concept select for any LNG project (other than a Series 1 LNG Project) with a capacity of at least one train in which InterOil holds an equity interests (or is in receipt of a royalty in lieu of an equity interest)
(a “Series 2 LNG Project&rdquo design for a Series 2 LNG Project; (3) the date of the completion of the basis of design in respect of a Series 2 LNG Project; (4) the date the owners decide to commence front end engineering and design in respect of a Series 2 LNG Project; (5) the date of the taking of a final investment decision by the owners in respect of a Series 2 LNG project; and (6) the date on which the first cargo is loaded on to a vessel in respect of a Series 2 LNG Project for delivery to a customer Each Milestone Bonus is to be satisfied by a cash award and a grant of RSUs. No Milestone Bonuses were earned by Dr. Hession in 2013. Subsequent to 2013, Dr. Hession became provisionally entitled to receive a Milestone Bonus of $2,760,000 in cash and $1,840,000 in RSUs in respect of the SPA Completion. If all Milestones that are expected to be achieved in 2014 are achieved, Dr. Hession would receive Milestone Bonuses equal to $1,035,000 in cash and $690,000 in RSUs. In addition, on any discovery by InterOil (jointly or in combination with other parties) of hydrocarbons within any exploration licence, which is estimated to contain at least 1 trillion cubic feet of hydrocarbon gas equivalent or oil equivalent, Dr. Hession would become entitled to an “exploration bonus” of $500,000 in RSUs." |
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