content_image/137154.jpg content_image/137155.jpg content_image/137156.jpg content_image/137157.jpg
Movements in the number of share options outstanding and their related weighted average exercise price are as follows: 

<img src='content_image/137154.jpg'>

Share options outstanding at the end of the year have the following expiry date, exercise dates and exercise prices. 

<img src='content_image/137155.jpg'>

## Executive and Senior Management Long Term Incentive Plan 24 November 2010 

On 24 November 2010, shareholders approved at the Annual General Meeting the establishment of an Employee Long Term Incentive Plan (LTI) to grant performance rights to Executive Directors, Key Management Personnel and other Senior Management. Performance rights will vest subject to the satisfaction of performance conditions which will be different for Executive Directors as compared with the Key Management Personnel and Senior Management. 

## Executive Directors and Key Management Personnel 

Performance rights granted to Executive Directors and six Key Management Personnel are summarised below: 

<img src='content_image/137156.jpg'>

* From 2011 Performance Rights granted to Executive Directors only. 

The performance rights granted are divided between Long Term Incentive (261,009) and Short Term Incentive (104,403) components. 

Short term incentive performance rights vest: 

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

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

The performance period and vesting dates are summarised below: 

<img src='content_image/137157.jpg'>

The fair value of the rights have been 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$1.69 per right (2012: $2.23). 

