TSX:LSG.DB - Post by User
Post by
ub40ehon Feb 11, 2016 1:01pm
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Post# 24548560
Golden hand shake....
Golden hand shake....Found this on The IKN Blog about Mr. Makuch and his Golden handshake.....that's on heck of an incentive to take a deal... LSG Payola: Here's the thing about the "Change of Control" payments for the CEO of Lake Shore Gold (LSG) (LSG.to), Tony Makuch, as per the latest Management Information Circular: "...the CEO would be entitled to a payment equal to 30 months' salary plus an amount equal to 2.5 times the average of his previous two years bonus payments, and benefits coverage for two years (or payment of an amount sufficient to obtain comparable benefits coverage)" As Makuch is on $55,000/month, that's $1.65m for the salary element. As for the bonus payment element, I don't think that includes the options and shares awards payments, just the cash bonuses. If so it works out at $2.11m. If not it's more. So, at least $3.76m bonus payment for Mr. Makuch thanks to him agreeing to this shitty deal with Tahoe Resources. Nice work if you can get it. https://incakolanews.blogspot.ca/