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Jovian Capital Corporation T.JOV



TSX:JOV - Post by User

Post by DTM5on Jul 04, 2012 8:19am
226 Views
Post# 20080284

Hush money

Hush money

Form the recent financial results news release - They lowered the amount they are back dooring out of the company.   Boy how generous.

In the third quarter, a provision for a $12.2 million profit pool payment was recorded in compensation and benefits expense in the statement of operations.  Subsequently, the Board and management agreed to a revised payment of $7.0 million in the aggregate in respect of entitlement under the profit pool for the current fiscal year (for a detailed discussion of the profit pool and its application, please see "Corporate Matters" in the 2012 Annual Report).  As a result, a $5.2 million adjustment was booked to decrease compensation and benefits during the fourth quarter.

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