For personal use only

Transcription

1 For personl use only 9 SPOKES INTERNATIONAL LIMITED EMPLOYEE SHARE OPTION SCHEME

2 For personl use only Confidentil 1 PURPOSE This is the 9 Spokes Interntionl Limited Employee Shre Option Sheme. The purpose of the Sheme is to inentivise employees nd llow the Compny to ttrt nd retin key employees y grnting them right to prtiipte in the equity of the Compny. 2 INTERPRETATION 2.1 Definitions: In this Sheme: Definition Mening At the Compnies At Bord Breh the ord of diretors of the Compny from time to time. reh of: the Compny s onstitution; the Listing Rules; or ny sttute or regultion. Business Dy Mondy to Fridy, other thn ny puli holidy within the mening of setion 44 of the Holidys At 2003 tht ours in Auklnd, or ny puli holidy in the ity where the Employee is loted. Compny 9 Spokes Interntionl Limited, ompny numer Employee Exerise Prie Expiry Dte Issue Dte Listing Rules Offer Letter Options person who hs ny diretorship, employment or servie ontrt with the Compny or ny of its susidiries. the exerise prie per Shre set out in the Offer Letter (djusted for ny of the mtters referred to in luse 8). the expiry dte set out in the Offer Letter. the issue dte set out in the Offer Letter. the listing nd/or other rules of ny stok exhnge on whih seurities in the Compny re quoted. the letter from the Compny offering options to susrie for Shres in the Compny under the Sheme. the numer of options set out in the Offer Letter (djusted for ny of the mtters referred to in luse 8), eh eing right to susrie for one Shre t the Exerise Prie.

3 For personl use only Confidentil Prtiipnt Sheme Shre Vest Vesting Shedule person who holds one or more Options. the 9 Spokes Interntionl Limited Employee Shre Option Sheme, the terms of whih re set out in this doument. n ordinry shre in the Compny. the right to exerise n Option whih rises on the vesting dte of tht Option s set out in the Vesting Shedule nd Vested hs orresponding mening. the Vesting Shedule set out in the Offer Letter. 2.2 Interprettion: A referene to: i ii iii iv v luse is to luse of the Sheme; person inludes odies orporte, uninorported ssoitions or prtnerships; inluding nd similr words do not imply ny limittion; sttute inludes referenes to tht sttute s mended or repled from time to time; nd $ or dollrs is to New Zelnd urreny. The hedings in the Sheme re for onveniene only nd hve no legl effet. The singulr inludes the plurl nd vie vers. 3 APPROVALS Eh grnt of Options is sujet to reeipt of ny pprovls required under the Listing Rules. 4 OFFERS OF OPTIONS The Bord my mke n offer of Options to n existing or prospetive Employee. Eh offer will: e in writing; tth opy of the Sheme nd n Options ertifite; nd speify: i ii the numer of Options to e grnted; the Issue Dte;

4 For personl use only Confidentil iii iv v the Vesting Shedule; the Exerise Prie; the Expiry Dte; nd vi the dte y whih the offer my e epted. 5 MAXIMUM NUMBER OF OPTIONS The mximum numer of Options tht my e grnted to existing or prospetive Employees under this Sheme is limited to suh numer s is onsistent with the Listing Rules. 6 ACCEPTANCE OF OFFERS 6.1 Dte for eptne: An existing or prospetive Employee who wishes to ept n offer of options must return to the Bord ompleted letter of offer within two weeks fter the dte of the offer. 6.2 Terms: In epting n offer of Options, n existing or prospetive Employee epts those Options on the terms nd onditions of the Sheme. 7 VESTING AND EXERCISE OF THE OPTIONS 7.1 Vesting of Options: The Options will Vest progressively in ordne with the Vesting Shedule. Sujet to luse 7.3, the Prtiipnt my exerise n Option tht hs Vested t ny time during the period ommening on the dte on whih the Option Vested nd ending on the Expiry Dte. 7.2 Expiry: Any Option tht is not exerised on or prior to the Expiry Dte lpses on the Expiry Dte. 7.3 Exerise: An Option tht hs Vested my e exerised y the Prtiipnt, unless: the Bord onsiders tht the exerise would give rise to Breh; or the Options hve lpsed under the terms of the Sheme. 7.4 Exerise proess: A Prtiipnt my exerise ll or prt of tht Prtiipnt s Options y: providing t lest 10 Business Dys written notie to the Bord in the form set out in the Appendix to the Sheme; pying to the Compny the Exerise Prie in respet of eh of the Options eing exerised on or efore the dte set out in the notie provided to the Compny in ordne with luse 7.4, in lered funds nd into the nominted nk ount of the Compny; nd providing to the Compny the Prtiipnt s option ertifite.

5 For personl use only Confidentil 7.5 Issue: Within five Business Dys fter the dte on whih the Bord reeives notie of exerise nd pyment is mde in ordne with luse 7.4, the Bord will issue Shres to the Prtiipnt unless luse 7.3 prevents the exerise of the Options (nd if so the Bord will give notie to the Prtiipnt nd refund the pyment mde under luse 7.4). 7.6 Notie from Bord: If Prtiipnt hs een prevented under luse 7.3 from exerising n Option, the Bord will give notie to the Prtiipnt promptly fter it onsiders tht the exerise would no longer give rise to Breh. 7.7 Filure to py: If the Prtiipnt fils to py the Exerise Prie in ordne with luse 7.4, unless otherwise determined y the Bord, the Prtiipnt s entitlement to those Options lpses, even though the Expiry Dte of those Options my not hve pssed. 7.8 No distriution: By holding Options, the Prtiipnt is not, exept s provided in luses 8 nd 9, entitled to prtiipte in ny distriution nor ny issue of shres or other seurities in or in respet of the Compny other thn the Shres to e issued upon the exerise of the Options under the Sheme. 7.9 No trnsfer: The Options re personl to the Prtiipnt nd re not trnsferle without the pprovl of the Bord, whih pprovl my e withheld in the Bord s solute disretion. 8 ADJUSTMENTS 8.1 Rights Issue: There will e no djustment to the Exerise Prie or the numer of Shres to e issued on the exerise of Options if the Compny mkes rights issue efore the exerise of n Option. 8.2 Restruture: The Bord will, in ordne with rule 7.22 of the Listing Rules, djust the numer of Options, the Exerise Prie, nd/or tke ny other steps it onsiders equitle, if there is ny onus issue, onsolidtion or sudivision of ny Shres or ny redution or nelltion of shre pitl (or ny similr reorgnistion of the pitl of the Compny); or the Compny mlgmtes with nother ompny, to ensure tht the eonomi effet of the Options efore nd fter the relevnt event remins the sme. Any other rights of the Prtiipnt will e hnged to the extent neessry to omply with the Listing Rules pplying to reorgnistion of pitl t the time of reorgnistion ut in ll other respets the terms for the exerise of the options will remin unhnged. 8.3 Notie of djustments: Whenever the numer of Shres sujet to n Option or the Exerise Prie is djusted in ordne with this Sheme, the Compny will give notie of the djustment to the Prtiipnt holding the Option.

6 For personl use only Confidentil 9 TERMS OF ISSUE OF SHARES A Shre issued s onsequene of the exerise of n Option will e redited s fully pid nd will rnk for dividends from the dte it is issued nd will otherwise rnk eqully in ll respets with the other Shres of the Compny then on issue. It is knowledged tht the Compny my hve issued or my in the future issue ny other lss of shres rnking in ny or ll respets in priority to the Shres. 10 CANCELLATION OF OPTIONS 10.1 Prtiipnt eses to provide servies: If the Prtiipnt eses to provide servies to the Compny for ny reson: ll Options tht hve not Vested s t the dte tht the Prtiipnt eses to provide servies (Leving Dte) will e nelled without ompenstion on tht dte; nd ll Options tht hve Vested s t the Leving Dte must e exerised during the three month period following the Leving Dte, nd ny Options not exerised within tht period will lpse, unless the Bord determines otherwise Offer mde to ll shreholders: If during the Exerise Period n offer is mde to quire ll of the Shres in the Compny, ny Options tht hve not Vested on the dte of tht offer will e nelled without ompenstion on tht dte. Holders of Vested Options my prtiipte in ny offer to ll shreholders. The Bord will give notie to the holders of Vested Options in suffiient time to enle the holders of those Vested Options to exerise their Options prior to the offer period expiring. 11 AMENDMENTS 11.1 Amendments: Sujet to luse 11.3 nd reeipt of ny neessry pprovls under the Listing Rules, the Bord my mend the Sheme: if it onsiders tht the interests of the Employees ffeted re not mterilly prejudied; or with the prior written onsent of Employees holding (in ggregte) t lest 75% of the options on issue t the dte of the mendment Termintion: Sujet to luse 11.3, the Bord my terminte the Sheme Breh: The Bord: my not mend or terminte the Sheme if the mendment or termintion would give rise to Breh; ut despite luses 11.1 nd 11.2, my mend or terminte the Sheme if the Bord onsiders the mendment or termintion would void giving rise to Breh.

7 For personl use only Confidentil 11.4 Notie to Employees: The Bord will give notie of ny mendment to or termintion of the Sheme to ll Employees ffeted. 12 GENERAL 12.1 Confidentility: Eh prty must keep the Sheme, nd informtion it reeives out the Compny nd its usiness in onnetion with the Sheme (Confidentil Informtion) onfidentil, nd must not use or dislose tht Confidentil Informtion without the prior written onsent of the other prties exept to the extent tht: dislosure is required y lw; the relevnt informtion is lredy in the puli domin; or it is resonly required in onnetion with ny proposed: i ii iii finning of tht prty; sle of tht prty s interest in the Compny; or sle of ll or prt of the usiness of, or the shres in, tht prty, ii nd the prty reeiving the Confidentil Informtion hs entered into onfidentility undertkings sustntilly the sme s those set out in this luse Noties: All noties nd ommunitions given under this Sheme must e in writing nd will e delivered to the reipient personlly, sent y post or sent y emil to the ddress or emil ddress from time to time designted y the reipient. Unless ny other designtions re given, the notie detils of the Compny nd Prtiipnt re those set out in the relevnt letter of offer. Any notie or ommunition given under this Sheme will e deemed to e vlidly given: in the se of delivery, when reeived; in the se of posting, on the seond dy following the dte of posting; or if emiled, one hour fter the emil is sent unless return mil is reeived y the sender within tht one hour period stting tht the ddressee s emil ddress is wrong or tht the messge nnot e delivered, provided tht ny notie reeived fter 5 pm on Business Dy or on ny dy tht is not Business Dy will e deemed to hve een reeived on the next Business Dy Administrtion: The Sheme will e dministered y the Bord. The Bord will hve power to: delegte to ny person (nd revoke ny delegtion of) for suh period nd on suh terms s it sees fit, the exerise of ny of its powers or disretion; nd

8 For personl use only Confidentil resolve onlusively ll questions of ft, onstrution, interprettion or miguity in onnetion with the terms of opertion of this Sheme nd the terms of Options grnted under the Sheme Wiver: No exerise or filure to exerise or dely in exerising ny right or remedy will onstitute wiver y the Compny of tht or ny other right or remedy ville to it Governing lw nd jurisdition: The Sheme will e governed y New Zelnd lw.