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## (c) Superannuation 

The Company participates in an “accumulation” superannuation plan under which all employees are entitled to lump sum bene fi  ts on retirement, disability or death. The Company contributes various percentages of wages and salaries to the plan. The contributions made are legally enforceable. No actuarial assessment of the plan has been made as such assessments are inappropriate to an “accumulation” plan. The assets of the plan are suf fi  cient to satisfy all bene fi  ts that have vested under the plan in the event of its termination, or in the event of voluntary or compulsory termination, of the employment of each employee. 

## (d) Employee Share Option Plan 

Shareholders approved an Employee Share Option Plan on 20 October 1995 (“ESOP”). This ESOP entitles management who meet incentive objectives to apply for options to purchase shares in the Company. There is no vesting period for these options and accordingly employees can exercise these options at any time after they have been issued. These options are automatically cancelled when the employee leaves the Company. There are no voting rights and no dividend rights attached to these options. No new options will be issued under this ESOP. No options issued under this plan were exercised during the year ended 30 June 2004. There are no longer any options in existence under this plan. 

## (e) Employee Option Plan 

Shareholders approved an Employee Option Plan on November 2001. There is no vesting period for options issued under this plan and accordingly employees can exercise them at any time after they have been issued. No options were issued under the plan during the year to 30 June 2004. These options are automatically cancelled when the employee leaves the Company. A total of 3,725,000 options previously issued under the plan were cancelled due to employees leaving the Company. There are no voting rights and no dividend rights attached to these options. No options issued under this plan were exercised during the year to 30 June 2004. Details of the options on issue under this plan as at 30 June 2004 are: 

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