Page 207 - Hang Lung Properties 2012 Annual Report

28 EMPLOYEE BENEFITS (Continued)
(b) Equity compensation benefits
The share option scheme adopted by the Company on November 22,
2002 (the “Old Scheme”) was terminated upon the adoption of a new
share option scheme on April 18, 2012 (the “New Scheme”, together
with the Old Scheme are referred to as the “Schemes”). No further
options shall be offered under the Old Scheme, but in all other respects
the provisions of the Old Scheme shall remain in full force and effect
and all options granted prior to such termination and not exercised at
the date of termination shall remain valid. The New Scheme remains in
force for a period of 10 years commencing on its adoption date and
expiring on the tenth anniversary thereof.
The purposes of theSchemes are to enable theCompany togrant options
to selected participants as incentives or rewards for their contributions
to the Group, to attract skilled and experienced personnel, to incentivize
them to remain with the Group and to motivate them to strive for the
future development and expansion of the Group by providing them with
the opportunity to acquire equity interests in the Company.
Under the Schemes, the board of directors (the “Board”) of the
Company is authorized to grant options to selected participants,
including employees and directors of any company in the Group,
subject to the terms and conditions such as performance targets as
the Board may specify on a case-by-case basis or generally. The
exercise price of the options is determined by the Board at the time of
grant, and shall be the highest of the nominal value of the shares, the
closing price of the shares at the date of grant and the average closing
price of the shares for the five business days immediately preceding
the date of grant. The period open for acceptance of the option and
amount payable thereon, the vesting period, the exercisable period
and the number of shares subject to each option are determined by
the Board at the time of grant.
28 僱員福利（續）
(b) 股份補償福利
本公司於二零零二年十一月二十二日所採
納之股份期權計劃（「舊計劃」），已於二零
一二年四月十八日採納新股份期權計劃
（「新計劃」，連同舊計劃統稱為「計劃」）後
予以終止。根據舊計劃，不得進一步授出
任何股份期權，惟舊計劃之條文於所有其
他方面將繼續具十足效力及作用，且終止
日前授出及終止日期尚未獲行使之所有股
份期權將會繼續有效。新計劃將會維持於
其採納日期起計十年內有效且將會於其滿
第十週年屆滿。
計劃旨在令本公司可向經揀選人士授出股
份期權，激勵或獎勵其為本集團所作貢
獻，透過向其提供機會購買本公司之股權
方式，以吸引具備專業技術及經驗豐富之
人才，激勵彼等留任本集團並鼓勵彼等為
本集團之未來發展及擴充作出努力。
根據計劃，本公司董事局（「董事局」）獲授
權向經揀選人士（包括本集團內任何成員公
司之員工及董事）授出股份期權，惟須遵
照相關條款及條件，如本集團董事局或會
逐個或整體指定表現目標。股份期權行使
價由董事局於授出時釐定，並必須為股份
面值、於授出日期之收市價及於緊接授予
前五個營業日之平均收市價三者中之最高
價。可接納期權之期間及其應付之款項、
歸屬期、行使期及每份期權可認購股份之
數目均由董事局於授出時予以釐定。
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