this is from their circular Maritime has entered into employment or consulting agreements with each of its officers. Pursuant to their
respective agreements the Chief Executive Officer (the “CEO”) is paid $240,000 per annum, the COO $200,000 per
annum, the Chief Financial Officer (“CFO”) is paid $78,000 per annum, the VP Exploration $9,000 per month and
the Corporate Secretary $4,000 per month. The employment or consulting agreements entered into by the officers
also provide for change of control benefits. As proposed, upon a change of control of Maritime, which would
include the Hostile Bid if consummated in accordance with its terms, and either a termination of the agreement for a
reason other than cause or a resignation for good reason, each of the CEO, the COO and the VP Exploration would
be entitled to receive a lump sum equal to 2 years’ of their base salary or other compensation plus unpaid bonuses
and vacation pay, the CFO would receive 18 months base salary or other compensation plus bonuses and vacation
pay, and the Corporate Secretary would be entitled to 12 months salary or other form of compensation.
Do you see this kind of pay structure for such a tiny market cap company?