IOOF  | Annual Report 2012 The following share-based payment arrangements were in existence during the current and comparative reporting periods: (1) 25% of the options vest subject to achievement of the Perennial Group’s three year Funds Under Management forecast and 25% based on the achievement of a  compounding Group cash earnings per share in excess of 10% each year over the performance period. The remaining options and rights are subject to continuing  employment with the Group.  On vesting of performance rights, ordinary shares are held in trust for up to two years from the vesting date, after which time they may remain in trust, be transferred  to the employee’s name or sold. The employee receives all dividends on the ordinary shares while held in trust. The vesting of all issuances is subject to continuing  employment. Options Series - Recipient Exercise  price  Earliest  vesting date Exercise period Performance related vesting  conditions $ Commence Expires 2012-02 Managing Director  6.81  1-Jul-14 1-Jul-14 1-Jul-17 Earnings per share & return on equity 2012-05 DKN Replacement Options  7.50  30-Sep-13 30-Sep-13 30-Sep-14 Nil 2010-5 Managing Director  6.93  23-Nov-13 23-Nov-13 23-Nov-16 Earnings per share & return on equity 2010-4 Senior Management  6.14  1-Jul-13 1-Jul-13 30-Jun-15 Nil 2010-3 Senior Management  7.01  4-May-13 4-May-13 4-May-16 Nil 2010-2 Senior Management 7.4 0  31-Jul-10 1-Aug-13 2-Aug-14 FUM target & earnings per share  (1) 2009-20 Senior Management  5.68  31-Jul-09 1-Aug-12 2-Aug-13 FUM target & earnings per share  (1) 2009-16 Managing Director  5.20  27-Nov-12 27-Nov-12 27-Nov-15 Earnings per share & return on equity 2008-08 Senior Management  3.15  31-Jul-08 2-Aug -11 2-Aug-12 FUM target & earnings per share  (1) Legacy options series 2009-15 Former CEO  9.89  27-Nov-09 27-Nov-09 27- N ov -11 Nil 2009-09 Managing Director  9.99  30-Apr-09 30-Apr-09 22-Nov-12 Nil 2009-08 Senior Management  9.36  30-Apr-09 30-Apr-09 30-Jun-13 Nil 2009-07 Senior Management  9.36  30-Apr-09 30-Apr-09 30-Jun-13 Nil 2009-04 Senior Management  5.52  30-Apr-09 30-Apr-09 30-Nov-11 Nil 2009-02 Senior Management  3.73  30-Apr-09 30-Apr-09 16-Jun-14 Nil 2009-01 Senior Management  2.98  30-Apr-09 30-Apr-09 15-Feb-14 Nil page 105