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## Senior Management 

Performance rights granted to Key Management Personnel under the shareholder approved Employee Long Term Incentive Plan are summarised below: 

<img src='content_image/216329.jpg'>

Short Term Incentive performance rights vest: 

• upon the Company achieving specified non-market performance hurdles; and 

• the employee remaining in employment with the Company until the vesting date. 

The performance periods and vesting dates are summarised below: 

<img src='content_image/216330.jpg'>

The fair value of the rights were assessed as the Kathmandu Holdings Limited share price as at the grant date less the present value of the dividends forecast to be paid prior to the vesting date. The fair value of each right has been calculated to be NZ$1.70 per right (2012: $2.35). 

The non-market performance hurdles set for the year ending 31 July 2013 were not met and accordingly: 

• no expense has been recorded in the income statement; and 

• all of these rights have lapsed 

## Expenses arising from share based payments: 

<img src='content_image/216323.jpg'>

