20 annual report 2012  kathmandu Details of the remuneration of the Directors and other key management personnel of the Group, for the current  and prior financial years are set out in note 9 of the financial  statements.  all executives are on employment terms consistent with  the remuneration framework outlined in this report. each  of the agreements has an open term, and the period of  notice to be given by the employee is three months. the  agreements provide for three months base salary inclusive  of any applicable superannuation to be paid in the event of  a redundancy. 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.  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.  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. c - serVice aGreements  d – details of share-Based compensation  options plan 2009 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 7,4 09 - Caleb Nicolson 18 Nov 2009 15,518 1 Oct 2012 1 Oct 2013 7,570 - Total 956,402 442,850  - 1.  Bryan Moore was General Manager, Information Services until his resignation on 10 September 2010, consequently 44,949 options granted to him under this plan have lapsed. 2.  Matthew Spencer was General Manager, Retail until his resignation on 6 January 2012, consequently 118,624 options granted to him under this plan have now lapsed.