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## D DETAILS OF SHARE-BASED COMPENSATION 

## Options Plan 2009 

The Company Employee Option plan entitles the holder to acquire one share for each option granted by paying the prescribed exercise price to the Company once the option has vested in the holder and the relevant exercise conditions have been met. 

Testing for the vesting of options granted under the Company Employee Option plan is 1 October in each year (for one-third of the options granted). In the event that the initial tranche of options do not vest on initial testing because the TSR performance target for the tested period has not been met, the options do not lapse. There is annual retesting against the 15% compound TSR growth target on 1 October each year through to 2013 for each tranche. 

As noted above, the Board do not intend to grant any further options under the existing plan. 

The number of options previously granted by the Company and thus provided as remuneration to Executive Directors and other key management personnel under this plan is set out below. 

<img src='content_image/137969.jpg'>

The fair value of the options granted on 18 November 2009 is $0.46 per option. 

All options granted under this plan will vest on the exercise dates above provided the required performance hurdles are achieved and the employee remains employed with the Company at the vesting date. In the event an employee leaves the Company prior to the vesting date the options will lapse. Any options that vest under this plan must be exercised no later than 18 November 2014. The total payable per employee on the exercise of one or more options on a particular day is the price per share in the Company paid for by the purchasers of shares in the IPO, being $A1.70 and $NZ2.1333, regardless of the number exercised on that day. 

No options in the Company were granted or vested in the previous year. No grants have been made subsequent to year end. 

