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                                    Directors%u2019 Report96ADVANCING AHEADIn relation to the options granted to Laurels (the %u201cLaurels Options%u201d) and in relation to the options granted to Redwood Consulting (the %u201cRedwood Options%u2019%u201d), if during the Vesting the relevant directors or employees of the Group (in each case the %u201cRelevant Employee%u201d):(a)resigns within 3 years of the date of grant of the Laurels Options or the part of the Redwood Options which are attributed to the relevant Director (the %u201cRelevant Options%u201d) or ceases to be employed other than in circumstances specified below, the relevant option holder will retain the Relevant Options to the extent vested as at the date of termination;(b)is dismissed for cause, or other specified events occur (including breaches of their relevant service agreements), the Relevant Options will be forfeited to the extent unexercised with certain exceptions; or(c)ceases to be employed due to dismissal without cause, the Relevant Options will vest in full.(xii)Rights on death or ill-healthIf the Relevant Employee dies or ceases to be employed by the Company or its affiliates due to ill health, the Relevant Options that are vested as at the date of cessation may be exercised.(xiii)Rights on a compromise or arrangementIf the court sanctions a compromise or arrangement between the Company and its Shareholders, provided an option is not to be exercised under the paragraph headed %u201cRights on Reorganisation or Merger%u201d in this section below, the option can be exercised up to 20 days before and during the period of six months commencing on the date when the court sanctions the compromise or arrangement.(xiv)Rights on winding upIf a notice is given by the Company to its Shareholders to convene a general meeting for the purposes of considering or approving a resolution to voluntarily wind-up the Company, to the extent that an option is vested, it may be exercised at any time to the extent that it is vested, before the relevant resolution has been passed or defeated or the meeting adjourned indefinitely, conditionally on the resolution being passed. If the Company is wound up by the court, to the extent that an option is vested and exercise is permissible by law, it may be exercised within one month of the winding-up order and will then lapse. This sub-clause does not apply if the winding-up is for the purpose of a reconstruction or amalgamation.(xv)Rights on reorganisation or mergerIf there is a variation in equity share capital of the Company or upon any consolidation, amalgamation or merger of the Company, the Board may adjust the terms of the Tier 1 ESOP or the option price for outstanding options with effect from the date of the relevant event, so that the value of the shares subject to the options is equal to the value of those shares immediately before the occurrence of the event; and the exercise price payable to exercise an option will be the same as that immediately before the occurrence of the event. No such adjustment can reduce the option price to less than the nominal value of a Share.
                                
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