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A.
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Effective as of 15 August 2010 the following Schedule replaces the Schedule to the MD Employment Agreement of 21st day of December 2007, as amended on 1 May 2009.
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B.
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The conditions and salary package of the Managing Director will be further reviewed upon achievement of listing of the Company.
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Item 1
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Position (clause 1)
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Item 2
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Basis of Employment (clauses 1 and 22.1)
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Item 3
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Date of Commencement of Employment (clauses 1 and 22.1)
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Item 4
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State or Territory (clause 20.9)
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Item 5
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Duties (clause 2)
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Lead and manage Propanc’s development program;
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Develop and implement Propanc’s 3 – 5 year strategic plan;
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Manage key business areas including Research & Development, Legal, Finance and Corporate Development departments;
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Set up and lead regular board meetings;
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Establish reporting structure that will assist in the control and monitoring of key business performance indicators as agreed upon by the Board;
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Establish and maintain a filing system that contains all relevant records, reports, technical files and associated company information.
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Item 6
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NOT USED
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Item 7
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NOT USED
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Item 8
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Termination Notice & Conditons (clause 19.1)
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Item 9
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Gross Annual Package (clause 5.1)
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Item 10
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Bonus (clause 5.4)
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Item 11
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Communications Device (clauses 10 and 22.1)
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Item 12
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Instalments (clauses 5.2 and 22.1)
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Item 13
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Payment Dates (clauses 5 and 22.1)
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