Annual Report 2013 103 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONT (d) Performance rights plan (continued) 1. External Performance Condition (TSR outperformance) 2.Internal Performance Condition (EPS) The following table lists the inputs to the models used for the performance rights:  Performance Rights issued are subject to the following terms and conditions: 50% of the Performance Rights are subject to an external Performance Condition, namely, AACo’s Total Shareholder Return (TSR) performance  relative to the S&P/ASX Small Ordinaries Accumulation Index (ASX Code: XSOAI) measured over a three year Vesting Period�  Vesting of the Performance Rights subject to the TSR outperformance condition will be calculated based on the following percentile results in the  table below: 50% of the Performance Rights are subject to an internal Performance Condition based on the Company’s earnings per share (EPS)� EPS is defined as Adjusted Net after Tax Profit per Ordinary Share, where Adjusted Net after Tax Profit is calculated as follows: The Board in its absolute discretion may vary this formula from year to year to reflect the changing nature of the Group’s operations and its  operating environment� Vesting of the Performance Rights subject to the EPS condition will be calculated based on the following compound % growth rates over the three  financial years following the base year the Performance Rights are established� Annual reported Net Profit after Tax Profit Less: any adjustment deemed fair and appropriate by the Board, in the Board’s absolute discretion� Less: Valuation adjustments EPS Compound Growth Rate % of Performance Rights to vest Compound growth rate of less than 7�5% p�a� 0% vest Compound growth rate of at least 7�5% p�a� 50% vest Compound growth rate between 7�5% p�a� and 10% p�a� 2% vesting on a straight line interpolation for  each 0�1% increment in EPS� Compound growth rate of 10% p�a� or more 100% vest AACo TSR Ranking versus S&P/ASX Small Ords Accumulation Index (XSOAI) % of Performance Rights to vest Below the 50th percentile 0% vest At the 50th percentile 50% vest Between the 50th and 75th percentile 2% vesting on a straight line interpolation for  each percentile ranking At or above the 75th percentile 100% vest 31 December 2012 Grant date Expected  life of rights  (days) Share price  at grant date Exercise  price Expected  volatility Expected  dividend  yield Risk free  interest rate Weighted  average  fair value  of options  granted Model used 27 April 2012 392 $1�285 - 30�00% - 3�64% $1�2854 Black Scholes 27 April 2012 727 $1�285 - 30�00% - 3�65% $1�2857 Black Scholes 27 April 2012 413 $1�285 - 30�00% - 3�64% $1�2854 Black Scholes 27 April 2012 778 $1�285 - 30�00% - 3�65% $1�2857 Black Scholes 27 April 2012 1,098 $1�285 - 30�00% - 2�95% $0�9110 Monte Carlo 27 April 2012 1,098 $1�285 - 30�00% - 2�95% $1�2858 Black Scholes 27. SHARE-BASED PAYMENT PLANS (CONTINUED)