At December 31, 2012, the following options to purchase Class A shares were outstanding: The Escrowed Stock Plan (the “ES Plan”) provides executives with increased indirect ownership of Class A shares. Under the  ES Plan, executives are granted common shares (the “ES Shares”) in one or more private companies that own the company’s  Class A shares. The Class A shares are purchased on the open market with the purchase cost funded with the proceeds from  preferred shares issued to the company. The ES Shares vest over one to five years and must be held until the fifth anniversary of  the grant date. At a date no less than five years, and no more than 10 years, from the grant date, all outstanding ES Shares will be  exchanged for Class A shares issued by the company, based on the market value of Class A shares at the time of the exchange. During 2013, 4.1 million Class A shares were purchased in respect of ES Shares of which 2.35 million were granted to executives  under the ES Plan (2012 – 2.25 million Class A shares) during the year. For the year ended December 31, 2013, the total expense  incurred with respect to the ES Plan totalled $14.0 million (2012 – $6.3 million). The cost of the escrowed shares granted during the year was determined using the Black-Scholes model of valuation with inputs  to the model as follows: The Restricted Stock Plan awards executives with Class A shares purchased on the open market (“Restricted Shares”).  Under the Restricted Stock Plan, Restricted Shares awarded vest over a period of up to five years, except for Restricted  Shares awarded in lieu of a cash bonus which may vest immediately. Vested and unvested Restricted Shares must be held  until the fifth anniversary of the award date. Holders of vested Restricted Shares are entitled to vote Restricted Shares and to  receive associated dividends. Employee compensation expense for the Restricted Stock Plan is charged against income over the  vesting period. During 2013, Brookfield granted 386,273 Class A shares pursuant to the terms and conditions of the Restricted Stock Plan,  resulting in the recognition of $10.6 million (2012 – $8.5 million) within compensation expense. In addition, Brookfield  exchanged 2,014,265 fully vested, in-the-money options of certain executives for 1,416,142 Class A shares under the Restricted  Stock Plan.  The Restricted Share Unit Plan provides for the issuance of the Deferred Share Units (“DSUs”), as well as Restricted Share  Units (“RSUs”). Under this plan, qualifying employees and directors receive varying percentages of their annual incentive  bonus or directors’ fees in the form of DSUs. The DSUs and RSUs vest over periods of up to five years, and DSUs accumulate  additional DSUs at the same rate as dividends on common shares based on the market value of the common shares at the time  of the dividend. Participants are not allowed to convert DSUs and RSUs into cash until retirement or cessation of employment.  The value of the DSUs, when converted to cash, will be equivalent to the market value of the common shares at the time  136 BROOKFIELD ASSET MANAGEMENT  2)  Cash – Settled Share Based Awards a)  Restricted Share Unit Plan c)  Restricted Stock Plan b)  Escrowed Stock Plan Options Outstanding (000’s) Exercise Price Weighted Average  Remaining Life Vested Unvested Total C$8.72 – C$8.83  0.1 years 1,071 — 1,071 C$13.37 – C$19.03  5.2 years 7,043 3,768 10,811 C$20.21 – C$30.22  2.7 years 6,252 129 6,381 C$31.62 – C$46.59  4.7 years 4,771 541 5,312 $23.18 – $35.06  7.9 years 3,713 10,415 14,128 22,850 14,853 37,703 YEARS ENDED DECEMBER 31 Unit 2013 2012 Weighted average share price  US$ 37.82 31.35 Weighted average fair value per share  US$ 7.34 6.05 Average term to exercise  Years 7.5 7.5 Share price volatility 1 % 31.2 32.6 Liquidity discount  % 30.0 30.0 Weighted average annual dividend yield  % 1.5 1.8 Risk-free rate  % 1.3 1.4 1.  Share price volatility was determined based on historical share prices over a similar period to the term exercise