DGAP-News: Dyesol Limited: Dyesol Global Chief Executive Officer - Details of Appointment

Dyesol Limited / Miscellaneous/Miscellaneous

05.07.2010 08:19 

Dissemination of a Corporate News, transmitted by
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As announced to the ASX on 9 June 2010, Mr Clemens Betzel has been
appointed as the new Chief Executive Officer responsible for global
operations of the Dyesol Group of Companies. Mr Betzel commenced his new
role on July 1 and will be visiting Australia in the coming days to closely
engage with shareholders and staff.

Mr Betzel will be responsible for implementing the three year strategic
framework for the business growth of the Company, and will draw on his
commercialisation experience and extensive global networks. He will also
lead an executive management committee, comprising the CEO, Director -
Technology and Executive Chairman.

In accordance with ASX Listing Rule 3.1, the Directors of Dyesol Limited
provide the following disclosures in respect of the employment agreement
entered into with Mr Betzel (Agreement).

Mr Betzel, Chief Executive Officer, has entered into an employment
agreement with the Company effective from 1 July 2010. The agreement
specifies the duties and obligations to be fulfilled by Mr Betzel in his
role as Chief Executive Officer of Dyesol Limited.

The remuneration payable to Mr Betzel under the Agreement is EUR300,000 per
annum (Fixed Annual Salary) plus specified additional benefits of
superannuation contributions and medical coverage.

Mr Betzel will receive a sign-on bonus of 200,000 shares, which are subject
to vesting conditions.

In addition, Mr Betzel may qualify for an annual performance bonus, which
would comprise a minimum of 200,000 shares, and maximum 600,000 shares per
annum, based on meeting an agreed set of key performance indicators.

The Agreement is terminable by the Company giving 12 months written notice
and the payment of all unpaid remuneration and entitlements accrued up to
and including the date of termination, and the Fixed Annual Salary that,
but for the termination would have been payable to him for a 12 month
period following the date of termination. Mr Betzel may terminate the
Agreement by giving 6 months written notice. The Agreement is otherwise
terminable by the Company in the event of any misconduct by Mr Betzel.

The Agreement otherwise contains provisions standard for an agreement of
employment at Dyesol. These include leave, confidentiality, non-compete,
code of conduct and other general provisions.


For further information contact Viv Hardy at Callidus PR on +61 (0)2 9283
4113 or on +61 (0)411 208 951.
In Europe contact Eva Reuter, Investor Relations, Dyesol Europe on +49 177
6058804


Note to editors 
The Technology - DYE SOLAR CELLS
DSC technology can best be described as 'artificial photosynthesis' using
an electrolyte, a layer of titania (a pigment used in white paints and
tooth paste) and ruthenium dye deposited on glass, metal or polymer
substrates. Light striking the dye excites electrons which are absorbed by
the titania to become an electric current many times stronger than that
found in natural photosynthesis in plants. Compared to conventional silicon
based photovoltaic technology, Dyesol's technology has lower cost and
embodied energy in manufacture, it produces electricity more efficiently
even in low light conditions and can be directly incorporated into
buildings by replacing conventional glass panels or metal sheets rather
than taking up roof or extra land area.

The Company - DYESOL Limited 
Dyesol is located in Queanbeyan NSW (near Canberra) and in August 2005 was
listed on the Australian Stock Exchange (ASX: DYE). Dyesol manufactures and
supplies a range of dye solar cell products comprising equipment,
chemicals, materials, components and related services to researchers and
manufacturers of DSC. The Company is playing a key role in taking this
third generation solar technology out of the laboratory and into the
community.

More detail about the company and the technology can be found at:
http://www.dyesol.com

For further information contact Viv Hardy at Callidus PR on +61 (0)2 9283
4113 or on +61 (0)411 208 951.
In Europe contact Eva Reuter, Investor Relations, Dyesol Europe on +49 177
6058804




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