KATHMANDU ANNUAL REPORT  2013 21 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.  For Executives (including Executive Directors) granted rights in 2010, 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. Rights were offered in 2010 to all Executives domiciled in Australia and New Zealand.  In 2011 and 2012 rights under this long term performance measurement structure were offered only to the Executive Directors. 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. 2013 Grant date Rights granted  during the year Date exercisable Expiry date Total fair value  of performance  rights at grant  date $ Executive Directors Peter Halkett 11 Dec 2012 54,688 1 Dec 2014 1 Dec 2016 82,087 Peter Halkett 11 Dec 2012 54,688 1 Dec 2015 1 Dec 2016 72,188 )) Peter Halkett 11 Dec 2012 54,688 1 Dec 2016 1 Dec 2016 69,727 Mark Todd 11 Dec 2012 32,315 1 Dec 2014 1 Dec 2016 48,506 Mark Todd 11 Dec 2012 32,315 1 Dec 2015 1 Dec 2016 42,657 Mark Todd 11 Dec 2012 32,315 1 Dec 2016 1 Dec 2016 41,203 Total 261,009 356,368 2012 Grant date Rights granted  during the year Date exercisable Expiry date Total fair value  of performance  rights at grant  date $ Executive Directors Peter Halkett 30 Nov 2011 46,498 1 Dec 2013 1 Dec 2015 86,487 Peter Halkett 30 Nov 2011 46,497 1 Dec 2014 1 Dec 2015 84,160 )) Peter Halkett 30 Nov 2011 46,497 1 Dec 2015 1 Dec 2015 81,137 )) Mark Todd 30 Nov 2011 27,476 1 Dec 2013 1 Dec 2015 51,105 )) Mark Todd 30 Nov 2011 27,476 1 Dec 2014 1 Dec 2015 49,732 Mark Todd 30 Nov 2011 27,476 1 Dec 2015 1 Dec 2015 47,945 Total 221,920 400,566