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## NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONT 

For the three months ended 31 March 2013 

27. SHARE-BASED PAYMENT PLANS (CONTINUED) 

(d) Performance rights plan (continued) 

## 3.Termination and change in control provisions 

Under the terms of the LTI if the Managing Director/Chief Executive Officer ceases employment with the Company and holds Performance Rights, the ability of the Managing Director/Chief Executive Officer to retain their Performance Rights will depend on the circumstances in which the employment ceases� The Plan Rules define Bad Leavers and Good Leavers� 

If the executive was a Bad Leaver, then the Performance Rights will be automatically forfeited� If the executive was a Good Leaver, then the Board will consider the circumstances of the cessation of employment and may exercise its discretion to allow some or all of the Performance Rights to vest (and be exercised)� 

A change of control event occurs when any person, either alone or together with any “associate” (as defined in the Australian Corporations Act) who does not hold a relevant interest in more than 50% of the issued shares of the Company acquires a relevant interest in more than 50% of the issued shares, or the Board concludes that there has been a change in control of the Company then one of the following will occur in respect of all unvested Performance Rights or Deferred Equity Awards� The Performance Rights or Deferred Equity Awards will either vest on a pro rata basis or at the discretion of the Board in certain circumstances� 

28. COMMITMENTS 

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(d) Other commitments 

We have entered into forward purchase contracts for $15,368,995 worth of grain commodities as at 31 March 2013 (31 December 2012: $2,394,000; 31 March 2012: $5,148,473)� The contracts are expected to be settled within 12 months from balance date� 

We have entered into forward purchase contracts for $7,560,238 worth of cattle as at 31 March 2013 (31 December 2012: $19,186,800; 31 March 2012: $13,661,500)� The contracts are expected to be settled within 12 months from balance date� 

We have entered into contracts to deliver 16,000 (31 December 2012: 14,000; 31 March 2012: 20,500) bales of cotton between May 2013 and July 2013 with a contract value of $7,271,250 (31 December 2012: $6,426,980; 31 March 2012: $11,418,500)� 

