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

## long term incentive plan november 2010 

the Company long term incentive plan entitles the Board to grant performance rights for no cash consideration, at intervals determined by the Board. rights were offered in 2010 to all executives and senior management personnel domiciled in australia and new Zealand. 

For executives vesting of the rights will be dependent upon the Company achieving earnings per Share (epS) and / or relative tSr targets over a 2, 3 and 4 year performance 

period, with 50% of the value of rights allocated under each target. 

For senior management vesting of the rights was dependent firstly upon achievement of Company epS targets for FY2011, and given those targets were achieved, the rights granted vested on 31 July 2012 for personnel that remained employed by the Company on that date. 

For each executive the number of rights granted and the applicable performance period over which epS and relative tSr is measured is set out below, along with the fair value of the rights at the grant date. 

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