Fair value T otal First % Va lue of
per right value Date % f or- Rights r ights r ights
Gra nt N umbera t grant a t grant exercis- E xpiry vestedf eited    exercised    exercisedf orfeited
Name S eries Date Gra ntedda te da te ab le Date in year    in year    in year1 in year $2 year $3
Kate Munnings 2006A 19-Apr-06 3,950 $6.93 $27,374 19-Apr-09 19-Apr-12 94% - - - -
2006B 19-Apr-06 3,950 $4.81 $19,000 19-Apr-09 19-Apr-12 56% - - - -
2007A 28-Feb-07 5,100 $10.27 $52,377 28-Feb-10 28-Feb-13 - - - - -
2007B 28-Feb-07 5,100 $8.10 $41,310 28-Feb-10 28-Feb-13 32% - - - -
2008A 28-Feb-08 7,200 $10.42 $75,024 28-Feb-11 28-Feb-14 - - - - -
2008B 28-Feb-08 7,200 $7.71 $55,512 28-Feb-11 28-Feb-14 - - - - -
2008C 31-Aug-08 11,650 $7.61 $88,657 31-Aug-11 31-Aug-14 - - - - -
2008D 31-Aug-08 11,650 $5.78 $67,337 31-Aug-11 31-Aug-14 - - - - -
2009A 26-Sep-09 21,840 $3.77 $82,337 26-Sep-12 26-Sep-15 - - - - -
2009B 26-Sep-09 16,380 $2.99 $48,976 26-Sep-12 26-Sep-15 - - - - -
2009C 26-Sep-09 16,380 $3.77 $61,753 26-Sep-12 26-Sep-15 - - - - -
Joseph Sadatmehr 2005A 31-Aug-05 29,452 $4.92 $144,904 30-Aug-08 30-Aug-12 - - - - -
2005B 31-Aug-05 4,298 $4.42 $18,997 30-Aug-08 30-Aug-12 - - - - -
2005C 31-Aug-05 6,050 $3.91 $23,656 30-Aug-08 30-Aug-12 - - - - -
2006C 31-Aug-06 28,250 $7.62 $215,265 31-Aug-10 31-Aug-12 - - - - -
2006D 31-Aug-06 28,250 $5.06 $142,945 31-Aug-09 31-Aug-12 - - - - -
2007G 31-Aug-07 250,000 $12.18 $3,045,000 31-May-10 31-May-13 32% 68% 80,000 $298,400 $528,700
Nicholas Yates 2008A 28-Feb-08 4,300 $10.42 $44,806 28-Feb-11 28-Feb-14 - - - - -
2008B 28-Feb-08 4,300 $7.71 $33,153 28-Feb-11 28-Feb-14 - - - - -
2008C 31-Aug-08 7,000 $7.61 $53,270 31-Aug-11 31-Aug-14 - - - - -
2008D 31-Aug-08 7,000 $5.78 $40,460 31-Aug-11 31-Aug-14 - - - - -
2009A 26-Sep-09 10,920 $3.77 $41,168 26-Sep-12 26-Sep-15 - - - - -
2009B 26-Sep-09 8,190 $2.99 $24,488 26-Sep-12 26-Sep-15 - - - - -
2009C 26-Sep-09 8,190 $3.77 $30,876 26-Sep-12 26-Sep-15 - - - - -
1. On exercise of each performance right, the holder received one fully paid ordinary share in the Company. No exercise price was payable.
2. Value based on closing share price on exercise date.
3. Value based on closing share price on forfeit date.
4. These rights have not be granted to Dr Goode but are disclosed in accordance with the relevant accounting standard on the basis that on 26 March 2010, the Board confirmed that a
portion of the MD/CEO’s Total Incentive will be granted in September 2010 under similar terms to LTI grants to other Senior Executives in September 2009. The First Date exercisable is
expected to be two years (for 2009D and 2009E) and three years (for 2009F and 2009G) from the date when the rights are formally granted.The Expiry Date is expected to be six years
from the date when the rights are formally granted. Refer to page 57 for further details.
The assessed fair value at grant date of performance rights granted to the individuals is allocated on a straight line basis over the period from grant date to
final vesting date, and the amount is included in the remuneration tables above. Fair values at grant date are independently determined. Generally for a
performance right with EPS or ROFE hurdles, values are determined using a binomial option pricing model and for performance rights with TSR hurdles, the
Monte-Carlo simulation method is used. These valuation techniques take into account the exercise price, the term of the performance right, the vesting and
performance criteria, the impact of dilution, the non-tradeable nature of the performance right, the share price at grant date and expected price volatility of
the underlying share, the expected dividend yield and the risk free interest rate for the term of the performance right.
Table 19 - model inputs for the LTI performance rights granted during FY 2009/10
26 September 2009
Performance Rights and Restricted Share Units
2009A 2009B 2009C
Exercise price n/a n/a n/a
Consideration $nil $nil $nil
Vesting conditions Compound EPS growth Relative TSR ROFE growth
Expiry date 26 September 2015 26 September 2015 26 September 2015
Share price at grant date $4.13 $4.13 $4.13
Expected company share price volatility 55.0% 55.0% 55.0%
Expected dividend yield 3.0% 3.0% 3.0%
Risk-free interest rate 4.72% 4.73% 4.72%
Fair value at grant date $3.77 $2.99 $3.77