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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

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

To: GlobalMarine who wrote (14236)	7/14/1998 8:02:00 AM
From: mark silvers	Read Replies (2) \| Respond to of 20681

Herman Do you have any proof that current mgmt is going to vote themselves hundreds of thousands of options? Or are you just "discussing your fears"? What makes you believe that? Last time Fred was in charge I believe he negotiated a ton of options for himself, that is what I have heard. If he, or anyone else does a fine job, I have no problem with them getting paid. I am not sure who is in charge now, Fred or Sid, but I hope that either one doesnt let things get so out of hand that we cant reasonably pursue both goals. Both camps need to work together or they will only end up blaming each other for the ultimate and inevetable demise of Naxos. Mark