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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: GlobalMarine who wrote (14236)	7/14/1998 7:16:00 AM
From: Herman	of 20681

Proxy Comments: Page 10 "At this time there is no relationship between corporate performance and executive compensation." I am concerned that management could write themselves a blank check at shareholders expense. We need to make sure that management is accountable, that there are sufficient checks and balances. We can not tolerate a handout without performance. Management compensation needs to be tied to performance. Personally I am very relieved that Fred Arkoosh is back in management. With a personal stake of over 1,400,000 shares I do not believe he will let the current "camp" vote themselves hundreds of thousands of options. Herman

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