Re: BOD Compensation

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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BarbuBeatnik

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Re: BOD Compensation

in response to

BOD Compensation

geoprof

posted on Oct 03, 2010 11:20PM

You are referring about attendence fees for non- management directors. Overall cash compensation of Breakwater managers is far more than Noront's. For instance:

Breakwater Resources:

NEW CEO (part of year only) has $ 178 000 + cash incentives and options, totalling $ 1,575,000

CFO has $ 350 000 + $ incentives + options = $ 454 000

COO has $ 300 000 + $ incentives + options = $ 460 000 $,

CCO has $ 270 000 + $ incentives + options = $ 417 000, and so on... (source sedar.com).

As compared to Noront's (note that there are no additional cash incentives, only non-cash options):

CEO: $ 214 962 + opt = $ 934,162

CFO: $ 175 872 + options= $ 526,362

COO: $ 129 545 + options = $ 1,034,035

VP- Explo: $ 127 604 + options = $ 1,168,97

Our boys are not that overpaid, I believe...

GLTA.