20 ANNUAL REPORT  2013 KATHMANDU D DETAILS OF SHARE-BASED COMPENSATION  Options Plan 2009  The Company Employee Option plan entitles the holder to acquire one share for each option granted by paying the prescribed  exercise price to the Company once the option has vested in the holder and the relevant exercise conditions have been met.  Testing for the vesting of options granted under the Company Employee Option plan is 1 October in each year (for one-third of  the options granted). In the event that the initial tranche of options do not vest on initial testing because the TSR performance target  for the tested period has not been met, the options do not lapse. There is annual retesting against the 15% compound TSR growth  target on 1 October each year through to 2013 for each tranche. As noted above, the Board do not intend to grant any further options under the existing plan.  The number of options previously granted by the Company and thus provided as remuneration to Executive Directors and other  key management personnel under this plan is set out below. The fair value of the options granted on 18 November 2009 is $0.46 per option. All options granted under this plan will vest on the exercise dates above provided the required performance hurdles are achieved and  the employee remains employed with the Company at the vesting date. In the event an employee leaves the Company prior to the  vesting date the options will lapse. Any options that vest under this plan must be exercised no later than 18 November 2014. The  total payable per employee on the exercise of one or more options on a particular day is the price per share in the Company paid for  by the purchasers of shares in the IPO, being $A1.70 and $NZ2.1333, regardless of the number exercised on that day.  No options in the Company were granted or vested in the previous year. No grants have been made subsequent to year end. Year Ended 31 July 2010 Options grant  date Options granted  during the year First vesting  date Last vesting  date Total fair value  of options at  grant date $ Options vested  during the year Executive Directors Peter Halkett 18 Nov 2009 186,218 1 Oct 2010 1 Oct 2013 78,925 - Peter Halkett 18 Nov 2009 186,218 1 Oct 2011 1 Oct 2013 88,912 - Peter Halkett 18 Nov 2009 186,218 1 Oct 2012 1 Oct 2013 90,841 - Mark Todd 18 Nov 2009 53,377 1 Oct 2010 1 Oct 2013 22,623 - Mark Todd 18 Nov 2009 53,377 1 Oct 2011 1 Oct 2013 25,485 - Mark Todd 18 Nov 2009 53,377 1 Oct 2012 1 Oct 2013 26,038 - Other Key Management  Personnel Michelle Adams 18 Nov 2009 26,755 1 Oct 2010 1 Oct 2013 11,340 - Michelle Adams 18 Nov 2009 26,755 1 Oct 2011 1 Oct 2013 12,774 - Michelle Adams 18 Nov 2009 26,756 1 Oct 2012 1 Oct 2013 13,052 - Tamalin Morton 18 Nov 2009 36,932 1 Oct 2010 1 Oct 2013 15,653 - Tamalin Morton 18 Nov 2009 36,932 1 Oct 2011 1 Oct 2013 17,634 - Tamalin Morton 18 Nov 2009 36,933 1 Oct 2012 1 Oct 2013 18,017 - Caleb Nicolson 18 Nov 2009 15,518 1 Oct 2010 1 Oct 2013 6,577 - Caleb Nicolson 18 Nov 2009 15,518 1 Oct 2011 1 Oct 2013 7,409 - Caleb Nicolson 18 Nov 2009 15,518 1 Oct 2012 1 Oct 2013 7,570 - Total 956,402 442,850 -