20. EXPENDITURE COMMITMENTS (continued) 21. EMPLOYEE ENTITLEMENTS AND SUPERANNUATION COMMITMENTS Employee Share Option Incentive Plan A Share Option Incentive Plan has been established where employees of the consolidated entity with appropriate seniority and length of service have been issued with options over ordinary shares of Mermaid Marine Australia Limited.  The options cannot be transferred and are not quoted on the ASX. On 19 June 1999, 730,000 options were issued under this plan to employees. Since the date of issue 115,000 options have expired due to the non exercise of the options by employees who have since left Mermaid’s employ. Of the remaining 615,000 ordinary shares under option pursuant to the Employee Option Plan, half (307,500) may be purchased within 12 months of 18 June 2000 at an issue price of  60 cents per share and half (307,500) may be purchased within 12 months of 18 June 2000 at an issue price of 70 cents per share. The market value of ordinary Mermaid Marine Australia Limited shares closed at 30 cents on 30 June 2000. 52 Gar Employee Entitlements The aggregate employee entitlement liability is comprised of: Accrued wages and on-costs 194,098 149,201 – – Provisions - current 371,518 654,633 – – Provisions - non current 222,758 187,262 – – 788,374 991,096 – – Note Consolidated Company 2000 1999 2000 1999 $ $ $ $ (c) Bareboat Charter Agreements Not later than 1 year – 184,000 – – Aggregate charter expenditure  contracted for at balance date – 184,000 – – NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 JUNE 2000