NOTEs TO THE FINANCIAL sTATEMENTs  108 31. EMPLOYEE BENEFITs (A) NUMBER OF EMPLOYEES (B) EMPLOYEE SHARE PLANS 1. FAiRFAx exeMPT eMPloyee SHARe PlAn 2. FAiRFAx deFeRRed eMPloyee SHARe PlAn 3. lonG TeRM equiTy BASed inCenTiVe SCHeMe 2008 – 2012 Financial year 2013 Financial year The number of rights to which a participant is entitled will depend on the participant’s role and responsibilities. Allocations are  set at a fixed percentage of the executive’s fixed remuneration at the time they participate in the scheme. The value of the rights  at the time of allocation is determined by an independent external valuer. For 2013, participants in the plan received an allocation of performance rights (rights) which allow the executive to acquire  shares for no consideration subject to achievement of the performance hurdles. No dividends are payable to participants on the  unvested rights. Under this plan, the cash value of a percentage of an eligible executive’s annual total fixed remuneration will be in the form of  nominally allocated Fairfax shares, which are beneficially held in a trust. The shares will vest if the eligible employee remains  in employment three years from the date the nominal shares are allocated and certain performance hurdles are satisfied. If  the allocation does not vest at the end of year three, a re-test of the performance hurdles occurs in the fourth year. There are  currently no cash settlement alternatives. Dividends on the allocated shares during the vesting period are paid directly to the  eligible employee and the Company does not have any recourse to dividends paid.  The long term incentive plan is available to certain permanent full-time and part-time employees of the consolidated entity. This plan is open to all Australian employees with at least twelve months service with the consolidated entity in Australia.  Under this Plan, participants may salary sacrifice a minimum of $1,000 and up to a maximum of $5,000 of salary per annum  for the purchase of issued Fairfax shares at the market price on the open market of the ASx. The shares are purchased by an  independent trustee company on predetermined dates. Participants must nominate a ‘lock’ period of either 3, 5 or 7 years  during which their shares must remain in the plan, unless they leave the consolidated entity in Australia. This plan is open to all Australian employees with at least twelve months service with the consolidated entity in Australia, whose  adjusted taxable income is $180,000 per annum or less. Under this Plan, participants may salary sacrifice up to $1,000 of pre  tax salary per annum for the purchase of issued Fairfax shares at the market price on the open market of the ASx. The shares  are purchased by an independent trustee company on predetermined dates. The Company had three employee share plans during the period. The terms of each plan are set out below: As at 30 June 2013 the consolidated entity employed 7,043 full-time employees (2012: 8,416) and 1,384 part-time and casual  employees (2012: 1,748). This includes 1,813 (2012: 2,094) full-time employees and 285 (2012: 310) part-time and casual employees  in New Zealand. FAIRFAx MEDIA LIMITED AND CONTROLLED ENTITIES FOR THE PERIOD ENDED 30 JUNE 2013