CEO's $1.3M incentive In February 2018 the Board set Mr. Liontas’s base annual salary at $200,000. The Director’s also approved a CEO performance bonus of $1.3M contingent on any one or more of the following future conditions being met, at which point the performance bonus would immediately become due:
1. Termination of the CEO’s employment
2. Change of Control as defined by TSX Policy 1.1
3. Change of Management as defined by TSX Policy 1.1
4. Any shareholder or group of shareholders operating in tandem acquiring 20% or more
of Novra’s voting shares.
5. Any action that the Board deems as a hostile takeover of Novra
6. Any action that the Board deems as a hostile action to control the Board
7. Novra being acquired by another company
8. Market capitalization reaches $10,000,000 CND dollars
#5 and #7 is a good exit strategy for the CEO who I'm certain would like to retire