STRENGTH IN UNITY Corporate Governance and Other Information 36 (viii) Performance target The vesting of PSUs granted under the Long Term Incentive Scheme is conditional on the achievement of objective performance conditions as documented in the Grant Letter. Performance conditions include market and non-market targets that serve to drive overall long-term value creation for the Group and which align Participants’ interests with those of the shareholders of the Company. Examples of performance conditions which may be applied include but are not limited to total shareholders’ return, return on capital, earnings per share, EBITDA and total assets under management. Performance conditions are established at the beginning of each performance period and are reviewed annually to ensure they remain relevant. The Board may, at its sole discretion very, waive or amend any such performance conditions or may impose different performance conditions to those specified in the Grant Letter, to the extent allowable under relevant law or regulatory restrictions. No performance conditions apply to RSUs granted under the Long Term Incentive Scheme. (ix) Satisfaction of awards Subject to and in accordance with the terms of the Long Term Incentive Scheme and the specific terms applicable to each Award, an Award shall vest on the date(s) specified in the Grant Letter (the “Vesting Date”). If the vesting of an Award is subject to the satisfaction of performance-based, time-based and/or other conditions and such conditions are not satisfied, the Award shall lapse automatically in respect of such proportion of the underlying Shares as have not vested. The Board may in its absolute discretion, determine whether the whole or any part of the Award granted or to be granted under the Long Term Incentive Scheme shall be satisfied upon vesting by the allotment and issue or transfer of Shares or by a cash payment (“Cash Payment”, for the purpose of the Long Term Incentive Scheme, means a payment in cash made by the Company to Participant upon the vesting of an Award in lieu of Shares, based on the formula of A x B, where: A = the number of Shares in respect of which the Award has vested, and B = the closing price of a Share as stated in the daily quotation sheets issued by the Stock Exchange of a Share on the relevant Vesting Date.) Any such determination may be made on a case-by-case basis or generally at any time on or around the grant date or relevant Vesting Date of the Award in question, and the Board shall notify the relevant Grantees of such determination. Awards shall be satisfied as soon as practicable on or after the relevant Vesting Date and in any event no later than 30 days following the relevant Vesting Date, at the Company’s absolute discretion by: (a) the Company allotting and issuing the relevant number of Shares to the Grantee credited as fully paid; or (b) the Company directing and procuring the trustee to transfer to the Grantee the relevant number of Shares; or (c) the Company paying or procuring the payment of a Cash Payment (and the Company may in its discretion pay or procure the payment of the Cash Payment in Hong Kong dollars or the equivalent in the Grantee’s local currency (converted on such basis of exchange rate as the Company may in its discretion determine). (x) Rights attached to the Shares A Grantee shall have no rights in respect of any Shares granted until such Shares have been allotted and issued or transferred to the Grantee, including in relation to any dividends or distributions in respect of such Shares.
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