Salary Structure and Employment Terms for Samuel Gyamfi, CEO of Ghana GoldBod Limited
1. Basic Salary
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Annual Gross Salary: GHS 1,500,000.00
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Annual Adjustment: 15% upward review each year.
2. Allowances
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Clothing Allowance: 15% of annual basic salary (GHS 225,000), paid yearly.
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Security: Two personal security officers or GHS 6,000.00 per officer as cash equivalent.
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Gardener: One gardener or GHS 4,000.00 as cash equivalent.
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Fuel Allocation: 1,500 litres monthly per official vehicle (two vehicles).
3. Benefits
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Medical Care: Full coverage for CEO, spouse, and up to five children (under 18 or 22 if schooling/unemployed).
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Official Vehicles: Two Toyota Land Cruiser V8s, fully maintained and insured.
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Disposal Option: Vehicles may be sold to CEO upon contract expiration/termination.
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Vacation: 30 working days of paid leave annually (excludes public holidays).
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Annual Familiarisation Tour:
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Airfare up to USD 10,000.
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USD 2,000/day per diem for 7 days (deductible from vacation leave).
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Business Travel: Business class flights + USD 2,000/day per diem.
4. Bonuses & Insurance
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Performance Bonus: Subject to annual targets/company policy.
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Additional Benefits: Unspecified benefits paid at “prevailing CEO rate + 20%.”
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Insurance: Personal accident/life coverage valued at 5x annual salary (GHS 7,500,000).
5. Termination & Confidentiality
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Notice Period: 3 months or as per Ghana Labour Act.
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Confidentiality: CEO must protect proprietary information during/after employment.
6. Contract Duration
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Term: 4 years (effective April 5, 2025), renewable subject to terms.
Summary of Annual Monetary Benefits (Estimated)
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Base Salary: GHS 1,500,000
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Clothing Allowance: GHS 225,000
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Security/Gardener: Up to GHS 16,000 (if cash equivalents chosen)
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Total Guaranteed Compensation: ~GHS 1,741,000 (excluding bonuses, travel, and non-cash benefits).
Note: Bonuses, vehicle disposal, and unspecified benefits may significantly increase total compensation.
