Document:

CHANGE-IN-CONTROL SEVERANCE AGREEMENT

 Exhibit 10.2 
 CHANGE-IN-CONTROL 
 SEVERANCE AGREEMENT 
 THIS AGREEMENT, dated as of December 11, 2006, by and between SeaChange International, Inc., with its principal place of business at 50 Nagog Park,
Acton, Massachusetts 01720 (the “Company”), and Steven M. Davi (the “Executive”). 
 WHEREAS, the Company considers it
essential to the best interests of its stockholders to foster the continuous employment of key management personnel, and recognizes that, as is the case with many publicly held corporations, the possibility of a change in control may exist and that
such possibility, and the uncertainty and questions which it may raise among management, may result in the distraction or departure of management personnel to the detriment of the Company and its stockholders; and 
 WHEREAS, the Board of Directors of the Company has determined that appropriate steps should be taken to reinforce and encourage the Executive’s
continued attention and dedication to the Executive’s assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a change in control of the Company, although no such change is
presently known to be contemplated. 
 NOW THEREFORE, in consideration of the mutual covenants and agreements hereinafter contained and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 Section 1 
 DEFINITIONS 
 Except as may otherwise be specified or as the context may otherwise require, the following terms shall have the respective meanings set forth below whenever used herein: 
 “Annual Bonus” shall mean the annual bonus, or if the Executive is paid a bonus on a quarterly basis, the sum of the four quarterly bonus
payments, paid to the Executive for the Company’s fiscal year immediately prior to the fiscal year in which the Date of Termination occurs, or, if greater, the fiscal year immediately preceding such prior fiscal year, as well as the lesser of
(i) the aggregate amount of sales commissions, if any, paid to the Executive for the Company’s fiscal year immediately prior to the fiscal year in which the Date of Termination occurs, or, if greater, the fiscal year immediately preceding
such prior fiscal year, or (ii) the average annual amount of sales commissions, if any, paid to the Executive for the three fiscal years immediately prior to the fiscal year in which the Date of Termination occurs. 
 “Base Salary” shall mean the annual base rate of regular compensation of the Executive immediately before a Covered Termination, or if greater,
the highest annual such rate at any time during the 12-month period immediately preceding the Covered Termination. 
 “Board” shall
mean the Board of Directors of the Company. 
  

 1 

 “Cause” shall mean (i) the Executive’s engaging in willful and repeated gross
negligence or gross misconduct, (ii) the Executive’s breaching of a material fiduciary duty to the Employer, or (iii) the Executive’s being convicted of a felony, in either case, to the demonstrable and material injury to the
Employer. For purposes hereof, no act, or failure to act, on the Executive’s part, shall be deemed “willful” unless done, or omitted to be done, by the Executive not in good faith and without reasonable belief that any act or omission
was in the best interest of the Employer. 
 “Change in Control” shall mean the first to occur, after the date hereof, of any of
the following: 
 (i) the members of the Board at the beginning of any consecutive 12- calendar-month period (the “Incumbent
Directors”) cease for any reason other than due to death to constitute at least a majority of the members of the Board; provided that any director whose election, or nomination for election by the Company’s stockholders, was approved by a
vote of at least a majority of the members of the Board then still in office who were members of the Board at the beginning of such 12- calendar-month period, shall be deemed to be an Incumbent Director; 
 (ii) any consolidation or merger of the Company where the stockholders of the Company, immediately prior to the consolidation or merger, would not,
immediately after the consolidation or merger, beneficially own (as such term is defined in Rule 13d-3 under the Securities Exchange Act), directly or indirectly, shares of Stock representing in the aggregate 50% or more of the combined voting power
of the securities of the corporation issuing cash or securities in the consolidation or merger (or of its ultimate parent corporation, if any); 
 (iii) there shall occur (A) any sale, lease, exchange or other transfer (in one transaction or a series of transactions contemplated or arranged by any party as a single plan) of all or substantially all of the assets of the Company,
other than a sale or disposition by the Company of all or substantially all of the Company’s assets to an entity, at least 50% of the combined voting power of the voting securities of which are owned by Persons in substantially the same
proportion as their ownership of the Company immediately prior to such sale or (B) the approval by stockholders of the Company of any plan or proposal for the liquidation or dissolution of the Company; or 
 (iv) Any corporation or other legal person, pursuant to a tender offer, exchange offer, purchase of stock (whether in a market transaction or otherwise)
or other transaction or event acquires securities representing 40% or more of the combined voting power of the voting securities of the Company, or there is a report filed on Schedule 13D or Schedule 14D-1 (or any successor schedule, form
or report), each as promulgated pursuant to the U.S. Securities Exchange Act, disclosing that any “person” (as such term is used in Section 13(d)(3) or Section 14(d)(2) of the Securities Exchange Act) has become the
“beneficial owner” (as such term is used in Rule 13d-3 under the Securities Exchange Act) of securities representing 40% or more of the combined voting power of the voting securities of the Company. 
 Notwithstanding the foregoing, none of the foregoing event(s) shall constitute a Change in Control unless such event(s) constitute a “change in the ownership or
effective control” or a change “in the ownership of a substantial portion of the assets,” in each case within the meaning of Section 409A(a)(2)(A)(v) of the Code and any regulations and other guidance in effect from time-to-time
thereunder including, without limitation, Notice 2005-I. 
  

 2 

 Upon the occurrence of a Change in Control as provided above, no subsequent event or condition shall constitute a Change
in Control for purposes of this Agreement, with the result that there can be no more than one Change in Control hereunder. 
 “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 “Company” shall mean, subject to
Section 4.1(a), SeaChange International, Inc., a Delaware corporation. 
 “Covered Termination” shall mean if, within the
one-year period immediately following a Change in Control, the Executive (i) is terminated by the Employer without Cause (other than on account of death or Disability), or (ii) terminates the Executive’s employment with the Employer
for Good Reason. The Executive shall not be deemed to have terminated for purposes of this Agreement merely because he or she ceases to be employed by the Employer and becomes employed by a new employer involved in the Change in Control; provided
that such new employer shall be bound by this Agreement as if it were the Employer hereunder with respect to the Executive. It is expressly understood that no Covered Termination shall be deemed to have occurred merely because, upon the occurrence
of a Change in Control, the Executive ceases to be employed by the Employer and does not become employed by a successor to the Employer after the Change in Control if the successor makes an offer to employ the Executive on terms and conditions
which, if imposed by the Employer, would not give the Executive a basis on which to terminate employment for Good Reason. 
 “Date of
Termination” shall mean the date on which a Covered Termination occurs. 
 “Disability” shall mean the occurrence after a
Change in Control of the incapacity of the Executive due to physical or mental illness, whereby the Executive shall have been absent from the full-time performance of the Executive’s duties with the Employer for six consecutive months or, in
any one year period, for an aggregate of six months. 
 “Employer” shall mean the Company (if and for so long as the Executive is
employed thereby) and each Subsidiary which may now or hereafter employ the Executive or, where the context so requires, the Company and such Subsidiaries collectively. A subsidiary which ceases to be, directly or indirectly, through one or more
intermediaries, controlling, controlled by or under common control with the Company prior to a Change in Control (other than in connection with and as an integral part of a series of transactions resulting in a Change in Control) shall,
automatically and without any further action, cease to be (or be part of) the Employer for purposes hereof. 
 “Good Reason” shall
mean, without the express written consent of the Executive, the occurrence after a Change in Control of any of the following circumstances, unless such circumstances are fully corrected prior to the Date of Termination specified in the Notice of
Termination given in respect thereof: 
 (i) the material reduction of the Executive’s title, or the reduction of the Executive’s
authority, duties or responsibilities, or the assignment to the Executive of any duties inconsistent with Executive’s position, authority, duties or responsibilities from those in effect immediately prior to the Change in Control; 

(ii) a reduction in the Executive’s Base Salary as in effect immediately before the Change in Control; 
  

 3 

 (iii) a material reduction in the Executive’s aggregate compensation opportunity, comprised only of
the Executive’s (A) Base Salary, and (B) bonus opportunity (taking into account, without limitation, any target, minimum and maximum amounts payable and the attainability and otherwise the reasonableness of any performance hurdles,
goals and other measures), if any; 
 (iv) the Company’s requiring the Executive to be based at any office or location more than 75
miles from that location at which the Executive performed Executive’s services immediately prior to the occurrence of a Change in Control, except for travel reasonably required in the performance of the Executive’s responsibilities;

 (v) the failure of the Company to obtain a reasonable agreement from any successor to assume and agree to perform this Agreement, as
contemplated in Section 4.1(a); 
 (vi) the failure of the Company to pay the Executive any amounts due hereunder; or 
 (vii) any other material breach by the Company of this Agreement. 
 “Notice of Termination” shall mean a notice given by the Employer or Executive, as applicable, which shall indicate the date of termination and the specific termination provision in this Agreement relied
upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provisions so indicated. 
 “Person” shall have the meaning ascribed thereto by Section 3(a)(9) of the Securities Exchange Act, as modified and used in Sections 13(d)
and 14(d) thereof (except that such term shall not include (i) the Company or any of its Subsidiaries, (ii) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its Subsidiaries,
(iii) an underwriter temporarily holding securities pursuant to an offering of such securities, (iv) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportion as their ownership of
stock of the Company, or (v) such Executive or any “group” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act) which includes the Executive). 
 “Securities Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
 “Stock” shall mean the common stock, $.01 par value, of the Company 
 “Subsidiary” shall mean any entity, directly or indirectly, through one or more intermediaries, controlled by the Company. 
  

 4 

 Section 2 
 BENEFITS 
 2.1 If a Change in Control occurs, then: 
 (a) (i) any and all outstanding unvested stock options and stock appreciation rights held by the Executive shall thereupon automatically vest and
become immediately exercisable in accordance with their terms, and (ii) notwithstanding anything to the contrary contained in clause (i), upon a termination of employment (regardless of the party initiating the termination, for any reason or no
reason), all stock options and stock appreciation rights held by the Executive which were granted after the date hereof shall be exercisable for the lesser of (A) the remainder of the generally applicable term of the stock options or stock
appreciation rights, which is measured from the date of grant thereof, and (B) three years from the date of such termination; provided that nothing in this Section 2.1(a) shall reduce or otherwise adversely affect the rights under such
stock options and stock appreciation rights that the Executive would have without regard to this Section 2.1(a); and 
 (b) any and all
restricted stock and restricted stock rights then held by the Executive shall thereupon fully vest and become immediately transferable free of restrictions, other than restrictions imposed by applicable law. 
 2.2 If a Covered Termination occurs, then (subject to the provisions of Section 2.3(b)) the Executive shall be entitled hereunder to the following:

 (a) the Company shall pay to the Executive an amount equal to the sum of (i) two times the Executive’s Base Salary and
(ii) the Executive’s Annual Bonus, provided, however, that, in the event William Styslinger is or may become entitled to a payment under Section 2.2(a) of a Change-in-Control Agreement dated as of July 30, 2004 (the
“Styslinger Agreement”) with respect to the same Change-in-Control, the aggregate amount paid to the Executive under this subsection (a)(ii) shall not exceed the amount paid or which may be payable to Mr. Styslinger under
subsection 2.2(a) of the Styslinger Agreement (calculated as of the Date of Termination) less the amount paid to the Executive pursuant to subsection 2.2(a)(i) hereof; 
 (b) for a period of two years after such termination, the Employer shall arrange to make available to the Executive medical, dental, group life and
disability benefits that are at least at a level (and cost to the Executive) that is substantially similar in the aggregate to the level of such benefits which was available to the Executive immediately prior to the Change in Control; provided that
(i) the Employer shall be required to provide group life and disability benefits only to the extent it is able to do so on reasonable terms and at a reasonable cost, (ii) the Employer shall not be required to provide benefits under this
Section 2.2(b) upon and after the Change in Control which are in excess of those provided to a significant number of executives of similar status who are employed by the Employer from time to time upon and after the Change in Control, and
(iii) no type of benefit otherwise to be made available to the Executive pursuant to this Section 2.2(b) shall be required to be made available to the extent that such type of benefit is made available to the Executive by any subsequent
employer of the Executive; 
 (c) the Employer shall provide the Executive with outplacement service through a bona fide outplacement
organization reasonably acceptable to the Executive that agrees to supply the Executive with outplacement counseling, a private office and administrative support including telephone service until the earlier of one year from the Date of Termination
or until such time that Executive secures employment; 
  

 5 

 (d) the Company shall pay for the Executive to receive financial planning services for which the Company
pays not more than $5,000; and 
 (e) the Company shall provide the Executive with a payment for any accrued but unused vacation. 

2.3 (a) The payments provided for in Section 2.2 shall (except as otherwise expressly provided therein or as provided in Section 2.3(b)
or as otherwise expressly provided hereunder) be made as soon as practicable, but in no event later than 30 days, following the Date of Termination. 
 Notwithstanding any other provision of this Agreement, if the Executive is a “key employee” as defined in Section 416(i) of the Code without regard to paragraph 5 thereof, no payment under this Agreement with respect to
separation from service shall be made before the date which is six months after the date of separation from service (or, if earlier, the date of death of the Executive). 
 (b) Notwithstanding any other provision of this Agreement to the contrary, no payment or benefit otherwise provided for under or by virtue of the foregoing provisions of this Agreement shall be paid or otherwise made
available unless and until the Employer shall have first received from the Executive (no later than 60 days after the Employer has provided to the Executive estimates relating to the payments to be made under this Agreement) a valid, binding and
irrevocable general release, in form and substance reasonably acceptable to the Employer; provided that the Employer shall be permitted to defer any payment or benefit otherwise provided for in this Agreement to the fifth day after the later of its
receipt of such release and the time at which the release has become valid, binding and irrevocable. 
 Section 3 
 PARACHUTE TAX PROVISIONS 
 3.1 If all, or any
portion, of the payments and benefits provided under this Agreement, if any, either alone or together with other payments and benefits which the Executive receives or is entitled to receive from the Company or its affiliates, would constitute an
excess “parachute payment” within the meaning of Section 280G of the Code (whether or not under an existing plan, arrangement or other agreement) (each such parachute payment, a “Parachute Payment”), and would result in the
imposition on the Executive of an excise tax under Section 4999 of the Code, then, in addition to any other benefits to which the Executive is entitled under this Agreement or otherwise, the Executive shall be paid an amount in cash equal to
the sum of the excise taxes payable by the Executive by reason of receiving Parachute Payments plus the amount necessary to place the Executive in the same after-tax position (taking into account any and all applicable federal, state and local
excise, income or other taxes at the highest possible applicable rates on such Parachute Payments (including, without limitation, any payments under this Section 3.1)) as if no excise taxes had been imposed with respect to Parachute Payments
(the “Parachute Gross-up”). Any Parachute Gross-up otherwise required by this Section 3.1 shall be made not later than the time of the corresponding payment or benefit hereunder giving rise to the underlying Section 4999 excise
tax, even if the payment of the excise tax is not required under the Code until a later time. 
 3.2 Except as may otherwise be agreed to by
the Company and the Executive, the amount or amounts (if 
  

 6 

 any) payable under this Section 3 shall be determined, at the sole cost of the Company, by the Company’s
independent auditors (who served in such capacity immediately prior to the Change in Control), whose determination or determinations shall be final and binding on all parties. The Executive hereby agrees to utilize such determination or
determinations, as applicable, in filing all of the Executive’s tax returns with respect to the excise tax imposed by Section 4999 of the Code. If such independent auditors refuse to make the required determinations, then such
determinations shall be made by a comparable independent accounting firm of national reputation reasonably selected by the Company. Notwithstanding any other provision of this Agreement to the contrary, as a condition to receiving any Parachute
Gross-up payment, the Executive hereby agrees to be bound by and comply with the provisions of this Section 3.2. 
 Section 4

 MISCELLANEOUS 
 4.1
(a) The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and agree to perform under the
terms of this Agreement in the same manner and to the same extent that the Company and its affiliates would be required to perform it if no such succession had taken place (provided that such a requirement to perform which arises by operation of law
shall be deemed to satisfy the requirements for such an express assumption and agreement), and in such event the Company (as constituted prior to such succession) shall have no further obligation under or with respect to this Agreement. Failure of
the Company to obtain such assumption and agreement with respect to the Executive prior to the effectiveness of any such succession shall be a breach of the terms of this Agreement with respect to the Executive and shall entitle the Executive to
compensation from the Employer (as constituted prior to such succession) in the same amount and on the same terms as the Executive would be entitled to hereunder were the Executive’s employment terminated for Good Reason following a Change in
Control, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective shall be deemed the Date of Termination. As used in this Agreement, “Company” shall mean the Company as hereinbefore
defined and any successor to its business or assets as aforesaid which assumes and agrees (or is otherwise required) to perform this Agreement. Nothing in this Section 4.1(a) shall be deemed to cause any event or condition which would otherwise
constitute a Change in Control not to constitute a Change in Control. 
 (b) Notwithstanding Section 4.1(a), the Company shall remain
liable to the Executive upon a Covered Termination after a Change in Control if the Executive is not offered continuing employment by a successor to the Employer on a basis which would not constitute a termination for Good Reason. 
 (c) This Agreement, and the Executive’s and the Company’s rights and obligations hereunder, may not be assigned by the Executive or, except as
provided in Section 4.1(a), the Company, respectively; any purported assignment by the Executive or the Company in violation hereof shall be null and void. 
 (d) The terms of this Agreement shall inure to the benefit of and be enforceable by the personal or legal representatives, executors, administrators, permitted successors, heirs, distributees, devisees and legatees of
the Executive. If the Executive shall die while an amount would still be payable to the Executive hereunder if they had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this
Agreement to the Executive’s devisee, legatee or other designee or, if there is no such designee, the Executive’s estate. 
 4.2
Except as expressly provided in Section 2.2, the Executive shall not be required to mitigate damages or 
  

 7 

 the amount of any payment or benefit provided for under this Agreement by seeking other employment or otherwise, nor will
any payments or benefits hereunder be subject to offset in the event the Executive does mitigate. 
 4.3 The Employer shall pay all
reasonable legal fees and expenses incurred in a legal proceeding by the Executive in seeking to obtain or enforce any right or benefit provided by this Agreement. Such payments are to be made within twenty days after the Executive’s
request for payment accompanied with such evidence of fees and expenses incurred as the Employer reasonably may require; provided that if the Executive institutes a proceeding and the judge or other decision-maker presiding over the proceeding
affirmatively finds that the Executive has failed to prevail substantially, the Executive shall pay Executive’s own costs and expenses (and, if applicable, return any amounts theretofore paid on the Executive’s behalf under this
Section 4.3). 
 4.4 For the purposes of this Agreement, notice and all other communications provided for in this Agreement shall be in
writing and shall be deemed to have been duly given when hand delivered or mailed by United States certified or registered express mail, return receipt requested, postage prepaid, if to the Executive, addressed to the Executive at his or her
respective address on file with the Company; if to the Company, addressed to SeaChange International, Inc., 124 Acton Street, Maynard, MA 01754, and directed to the attention of its Chief Financial Officer; if to the Board, addressed to the
Board of Directors, c/o 124 Acton Street, Maynard, MA 01754, and directed to the Company’s Chief Financial Officer; or to such other address as any party may have furnished to the others in writing in accordance herewith, except that
notice of change of address shall be effective only upon receipt. 
 4.5 Unless otherwise determined by the Employer in an applicable plan or
arrangement, no amounts payable hereunder upon a Covered Termination shall be deemed salary or compensation for the purpose of computing benefits under any employee benefit plan or other arrangement of the Employer for the benefit of its employees.

 4.6 This Agreement is the exclusive arrangement with the Executive applicable to payments and benefits in connection with a change in
control of the Company (whether or not a Change in Control), and supersedes any prior arrangements involving the Company or its predecessors or affiliates relating to changes in control (whether or not Changes in Control). This Agreement shall not
limit any right of the Executive to receive any payments or benefits under an employee benefit or executive compensation plan of the Employer, initially adopted as of or after the date hereof, which are expressly contingent thereunder upon the
occurrence of a change in control (including, but not limited to, the acceleration of any rights or benefits thereunder); provided that in no event shall the Executive be entitled to any payment or benefit under this Agreement which duplicates a
payment or benefit received or receivable by the Executive under any severance or similar plan or policy of the Employer, and in any such case the Executive shall only be entitled to receive the greater of the two payments. 
 4.7 Any payments hereunder shall be made out of the general assets of the Employer. The Executive shall have the status of general unsecured creditor of
the Employer, and this Agreement constitutes a mere promise by the Employer to make payments under this Agreement in the future as and to the extent provided herein. 
 4.8 Nothing in this Agreement shall confer on the Executive any right to continue in the employ of the Employer or interfere in any way (other than by virtue of requiring payments or benefits as may expressly be
provided herein) with the right of the Employer to terminate the Executive’s employment at any time. 
  

 8 

 4.9 The Employer shall be entitled to withhold from any payments or deemed payments any amount of tax
withholding required by law. 
 4.10 Any controversy or claim arising out of or relating to this Agreement or the breach of this Agreement
that is not resolved by the Employer and the Executive shall be submitted to arbitration in Boston, Massachusetts, in accordance with Massachusetts law and the procedures of the American Arbitration Association. The determination of the
arbitrator(s) shall be conclusive and binding on the Employer and Executive and judgment may be entered on the arbitrator(s)’ award in any court having jurisdiction. 
 4.11 This Agreement may be amended, superseded, canceled, renewed or extended, and the terms hereof may be waived, only by a written instrument signed by the parties or, in the case of a waiver, by the party waiving
compliance. No delay on the part of any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any party of any such right, power or privilege nor any single or partial
exercise of any such right, power or privilege, preclude any other or further exercise thereof or the exercise of any other such right, power or privilege. 
 4.12 The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement which shall remain in full force and effect.

 4.13 The use of captions in this Agreement is for convenience. The captions are not intended to and do not provide substantive rights.

 4.14 THIS AGREEMENT SHALL BE CONSTRUED, ADMINISTERED AND ENFORCED ACCORDING TO THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS WITHOUT
REGARD TO PRINCIPLES OF CONFLICTS OF LAW, EXCEPT TO THE EXTENT PREEMPTED BY FEDERAL LAW. 
 IN WITNESS WHEREOF, the parties hereto have
signed their names, effective as of the date first above written. 
  

			
	SEACHANGE INTERNATIONAL, INC.
		
	By:	 	 /s/ Kevin M. Bisson

	Name:	 	Kevin M. Bisson
	Title:	 	 Chief Financial Officer, Treasurer, Secretary
 and Senior
Vice President, Finance and
 Administration

	
	 /s/ Steven M. Davi

	Steven M. Davi

  

 9Long-Term Incentive Plan Rules

 Exhibit 4.1 
 Ansell Limited 
 ABN 89 004 085 330 
 Long Term Incentive Plan Rules 
  
 

 
 101 Collins Street Melbourne Victoria 3000 Australia 
 Telephone +61 3 9288 1234 Facsimile +61 3 9288 1567 
 www.freehills.com DX 240 Melbourne 
 SYDNEY MELBOURNE PERTH BRISBANE SINGAPORE 
 Correspondent Offices HANOI HO CHI MINH CITY JAKARTA KUALA
LUMPUR 
 Reference SJW:CP 

 Ansell Limited 
 ABN 89 004 085 330 
 Long Term Incentive Plan Rules 
 Purpose of the Plan 
  

	  	The Long Term Incentive Plan is designed to operate as the long term incentive component of senior executive remuneration for the Ansell Limited Group. The Plan provides for the
Board of Ansell Limited to grant, from time to time: 

  

	 	(a)	Performance Rights; and/or 

  

	 	(b)	Options, 

 to selected executives of the Ansell Limited
group of companies. 
 Section A – Grants of Performance Rights/Options 
  

	1	Board to make invitations 

  

	 	1.1	Invitations 

  

	 	(a)	The Board may, from time to time, in its absolute discretion invite Eligible Executives to apply for Performance Rights and/or Options upon the terms set out in the Plan and upon
such additional terms (which may include granting Performance Rights or Options in tranches) and Performance Conditions as the Board determines. 

  

	 	(b)	The Board may only accept an application from an Eligible Executive where that Eligible Executive continues to satisfy any relevant conditions imposed by the Board (which may
include, without limitation, that the Eligible Executive continues to be an employee of a Group Company at the relevant time). 

  

	 	(c)	Upon acceptance of an application from an Eligible Executive, the Board will grant Performance Rights and/or Options in the name of the Eligible Executive. Unless the Board
determines otherwise: 

  

	 	(1)	no payment is required for the grant of a Performance Right or Option; and 

  

	 	(2)	Performance Rights and/or Options may not be registered in any name other than that of the Eligible Executive. 

  

	 	1.2	Information to be provided to Eligible Executives 

  

	 	  	The Board will advise each Eligible Executive of the following minimum information regarding Performance Rights, Options and Shares: 

  

	 	(a)	the number of Performance Rights and/or Options being offered; 

  

 Page 1 

	 	(b)	the period or periods during which Performance Rights and Options may vest and during which an Option may be exercised; 

  

	 	(c)	the dates and times when Performance Rights or Options lapse; 

  

	 	(d)	any amount that will be payable upon exercise of an Option; 

  

	 	(e)	any applicable Performance Conditions; and 

  

	 	(f)	any other relevant conditions to be attached to the Performance Rights or Options (including for example, any restrictions on transfer of the Shares acquired on vesting of a
Performance Right or exercise of an Option). 

  

	2	Transfers and other Dealings 

  

	 	(a)	A Performance Right or Option granted under the Plan is only transferable: 

  

	 	(1)	with the prior consent of the Board; or 

  

	 	(2)	by force of law upon death to the Participant’s legal personal representative or upon bankruptcy to the Participant’s trustee in bankruptcy. 

  

	 	(b)	Any Dealing in respect of an unvested Performance Right or Option is prohibited, unless the Board determines otherwise. A Participant may, with the prior approval of the Board, Deal
with a vested Option on the condition that such dealing will be disclosed to shareholders. 

  

	 	(c)	Where the Participant purports to transfer a Performance Right or transfer or Deal with an Option other than in accordance with rule 2(a) or (b), the Performance Right or Option
will immediately lapse. 

 Section B – Performance Rights 
  

	3	Performance Rights 

  

	 	3.1	Vesting pre-conditions 

 Subject to rules 3.3 and
12.3, a Performance Right will only vest where the Performance Conditions and any other relevant conditions advised to the Participant by the Board pursuant to rule 1.2 have been satisfied. 
  

	 	3.2	Lapse of Performance Rights 

  

	 	  	An unvested Performance Right will lapse upon the earliest to occur of: 

  

	 	(a)	the date specified by the Board for the purposes of rule 1.2(c); 

  

	 	(b)	the Performance Right lapsing in accordance with rule 2(b); 

  

	 	(c)	the Performance Right lapsing in accordance with a provision of this rule 3; or 

  

 Page 2 

	 	(d)	failure to meet the Performance Condition applicable to the Performance Right within the prescribed period. 

  

	 	3.3	Cessation of Employment - unvested performance rights 

  

	 	(a)	Where a Participant ceases to be an employee of a Group Company before a Performance Right has vested: 

  

	 	(1)	for any reason other than as specified in paragraph (2), then all Performance Rights held by the Participant will lapse; or 

  

	 	(2)	by reason of his or her death, disability or other reason with the approval of the Board and at that time the Participant continues to satisfy any other relevant conditions imposed
by the Board at the time of grant, the Board may determine the extent to which Performance Rights granted to the Participant vest, having regard to whether pro rata performance is in line with the Performance Condition over the period from the date
of grant to cessation of employment. If no determination is made by the Board all Performance Rights held by the Participant will lapse. 

  

	 	(b)	The Board will give written notice to each Participant of the number of Performance Rights that vest pursuant to rule 3.3(a)(1). 

  

	 	3.4	Fraudulent or dishonest actions 

  

	 	(a)	Where, in the opinion of the Board, a Participant: 

  

	 	(1)	acts fraudulently or dishonestly; or 

  

	 	(2)	is in breach of his or her obligations to any Group Company, 

  

	 	  	then the Board may: 

  

	 	(3)	deem any unvested Performance Rights held by the Participant to have lapsed; 

  

	 	(4)	deem all or any Shares held by the Participant following vesting of Performance Rights to be forfeited and the Shares will be registered in the name of the Company’s nominee;
and/or 

  

	 	(5)	where any Shares have been sold by the Participant, require the Participant to pay to the Company all or part of the net profit realised on that sale. 

  

	 	(b)	Where, in the opinion of the Board, a Participant’s Performance Rights vest, or may vest, as a result of the fraud, dishonesty or breach of obligations of another employee of a
Group Company and, in the opinion of the Board, the Performance Rights would not otherwise have vested, the Board may determine that the Performance Rights have not vested and may, subject to applicable laws, determine: 

  

	 	(1)	where the Performance Right has not vested or Shares have not been allocated upon vesting of a Performance Right, that the Performance Rights have not vested and reset the
Performance Conditions applicable to the Performance Rights; 

  

 Page 3 

	 	(2)	where Shares have been allocated upon vesting of a Performance Right, that the Shares are forfeited by the Participant (as described in rule 3.4(a)(4)) and may, at the discretion of
the Board, reissue any number of Performance Rights to the Participant subject to new Performance Conditions in place of the forfeited Shares; or 

  

	 	(3)	any other treatment in relation to Performance Rights or Shares to ensure no unfair benefit is obtained by a Participant as a result of such actions of another person.

 Section C – Options 
  

	4	Vesting 

  

	 	4.1	Exercise pre-conditions 

  

	 	(a)	The exercise of any Option granted under the Plan will be effected in the form and manner determined by the Board, and must be accompanied by payment of the relevant exercise price
advised to the Participant by the Board pursuant to rule 1.2. 

  

	 	(b)	Subject to rules 4.3 4.4 and 12.3, an Option granted under the Plan will not vest and may not be exercised unless the Performance Conditions and any other relevant conditions
advised to the Participant by the Board pursuant to rule 1.2 have been satisfied. 

  

	 	4.2	Lapse of Options 

  

	 	  	An Option will lapse upon the earliest to occur of: 

  

	 	(a)	the date specified by the Board for the purposes of rule 1.2(c); 

  

	 	(b)	the Option lapsing in accordance with rule 2(b); 

  

	 	(c)	the Option lapsing in accordance with a provision of this rule 4; 

  

	 	(d)	failure to meet the Performance Condition applicable to the Option within the prescribed period; or 

  

	 	(e)	the 7 year anniversary of the date of grant of the Option. 

  

	 	4.3	Cessation of Employment – unvested Options 

  

	 	(a)	Where a Participant ceases to be an employee of a Group Company before an Option has vested: 

  

	 	(1)	for any reason other than as specified in paragraph (2), then all Options held by the Participant will lapse; or 

  

	 	(2)	by reason of his or her death, disability or other reason with the approval of the Board and at that time the Participant continues to satisfy any other relevant conditions imposed
by the Board at the time of grant, the Board may determine the extent to which Options granted to the Participant vest, having regard to whether pro rata 

  

 Page 4 

	 	  	performance is in line with the Performance Condition over the period from the date of grant to cessation of employment. If no determination is made by the Board all Options held by
the Participant will lapse. 

  

	 	(b)	The Board will give written notice to each Participant of the number of Options that vest pursuant to rule 4.3(a)(1) and those Options must be exercised within a period of 6 months
from the date the Participant ceases employment or such other period as determined by the Board in a specific case. If Options are not exercised within that period those Options lapse. 

  

	 	4.4	Cessation of Employment – vested Options 

  

	 	  	Where a Participant ceases to be an employee of a Group Company after an Option has vested: 

  

	 	(a)	by reason of his or her death, disability, bona fide redundancy or other reason with the approval of the Board and at that time the Participant continues to satisfy any other
relevant conditions imposed by the Board at the time of grant, that Option must (if at all) be exercised within a period of 12 months after cessation of employment or such other period as determined by the Board, and if not exercised within that
period the Option will lapse; or 

  

	 	(b)	for any other reason, then all vested Options held by the Participant must be exercised within a period of 90 days after cessation of employment or such other period as may be
determined by the Board. 

  

	 	4.5	Fraudulent or dishonest actions 

  

	 	(a)	Where, in the opinion of the Board, a Participant: 

  

	 	(1)	acts fraudulently or dishonestly; or 

  

	 	(2)	is in breach of his or her obligations to any Group Company, 

  

	 	  	then the Board may: 

  

	 	(3)	deem any unvested Options held by the Participant to have lapsed; 

  

	 	(4)	deem any vested but unexercised Options held by the Participant to have lapsed; 

  

	 	(5)	deem all or any Shares held by the Participant following exercise of an Option to be forfeited and the Shares will be registered in the name of the Company’s nominee; and/or

  

	 	(6)	where any Shares have been sold by the Participant, require the Participant to pay to the Company all or part of the net profit realised on that sale. 

  

	 	  	Where a Participant forfeits Shares pursuant to paragraph 4.5(a)(5) above, the Company will repay to the Participant any price paid upon exercise of the Options.

  

	 	(b)	Where, in the opinion of the Board, a Participant’s Options vest, or may vest, as a result of the fraud, dishonesty or breach of obligations of another

  

 Page 5 

	 	  	employee of a Group Company and, in the opinion of the Board, the Options would not otherwise have vested, the Board may determine that the Options have not vested and may, subject
to applicable laws, determine: 

  

	 	(1)	where the Options have not vested or Shares have not been allocated upon exercise of an Option, that the Options have not vested and reset the Performance Conditions applicable to
the Options; 

  

	 	(2)	where Shares have been allocated upon the exercise of an Option, that the Shares are forfeited by the Participant (as described in rule 4.5(a)(5)) and may, at the discretion of the
Board, reissue any number of Options to the Participant subject to new Performance Conditions in place of the forfeited Shares; or 

  

	 	(3)	any other treatment in relation to Options or Shares to ensure no unfair benefit is obtained by a Participant as a result of such actions of another person.

 Section D – General Terms 
  

	5	Allocation of Shares 

  

	 	5.1	Allocation of shares 

  

	 	(a)	On: 

  

	 	(1)	vesting of a Performance Right; or 

  

	 	(2)	exercise of an Option, 

  

	 	  	the Company must issue to or procure the transfer to the Participant (or his or her personal representative) of the number of Shares in respect of which Performance Rights have
vested or Options have been exercised (as the case may be). 

  

	 	(b)	The Company must issue or procure the transfer of Shares to the Participant pursuant paragraph (a) no later than the 14th day of the next period during which directors and
executives may deal in the Company’s securities, as determined based on the Company’s Guidelines for Dealing in Securities. 

  

	 	5.2	Share ranking 

  

	 	  	Any Shares issued under the Plan upon vesting of a Performance Right or exercise of an Option will rank equally in all respects with other ordinary shares for the time being on
issue except as regards any rights attaching to such shares by reference to a record date prior to the date of their allotment. 

  

 Page 6 

	 	5.3	Listing of Shares on ASX 

  

	 	  	The Company will apply for quotation of Shares issued under the Plan within the period required by ASX. 

  

	 	5.4	Refund of monies paid on lapse of a Performance Right or an Option 

  

	 	  	Unless rule 3.4 or 4.5 applies, where a Performance Right or an Option lapses, the Company will repay the Participant the price paid for the grant (if any) of the Performance Right
or the Option. 

  

	6	Restriction on Dealing with Shares 

  

	 	(a)	The Board may, at its discretion, impose a restriction on Dealing with Shares allocated on vesting of a Performance Right or exercise of an Option. 

  

	 	(b)	The Board must provide the Participant with details of any such restrictions in accordance with rule 1.2(f). 

  

	 	(c)	The Company may implement any procedure it considers appropriate to restrict a Participant from Dealing in Shares in accordance with a determination made under rule 6(a).

  

	7	Takeover, Scheme of Arrangement and Winding-up 

  

	 	7.1	Takeovers 

  

	 	(a)	In the event of each of: 

  

	 	(1)	a Takeover Bid being made for Shares in the Company; 

  

	 	(2)	the Board recommending that shareholders accept any Takeover Bid for Shares in the Company; and 

  

	 	(3)	a Takeover Bid for Shares in the Company becoming unconditional, 

  

	 	  	(each a Takeover Event) 

  

	 	  	the Board must within 10 Business Days of the Takeover Event consider whether, and may in its absolute discretion determine that, all or a specified number of a Participant’s
Performance Rights or Options vest, having regard to whether pro rata performance is in line with the Performance Condition over the period from the date of grant to the date of the relevant event described in paragraphs (1) to (3) above.

  

	 	(b)	Where the Board determines that Performance Rights or Options vest pursuant to rule 7.1(a), the Board must immediately give written notice to each Participant of the number of
Performance Rights and Options that have vested. 

  

	 	(c)	Within 10 Business Days of a Takeover Event occurring, the Board will give written notice to each holder of vested Options that those Options must (if at all) be exercised within 90
days of the date of the notice or such other period as determined by the Board. Options which are not exercised within that period will lapse, unless the Board determines otherwise. 

  

 Page 7 

	 	(d)	If the Board determines under under rule 7.1(a) that only some of a Participant’s Performance Rights or Options will vest, all unvested Performance Rights and Options will
automatically lapse, unless the Board determines otherwise. 

  

	 	7.2	Compromise or arrangement 

  

	 	(a)	The Board may, in its absolute discretion, determine that all or a specified number of a Participant’s Performance Rights or Options (as referred to in rule 7.1) vest where the
Board is satisfied that the applicable Performance Condition has been satisfied on a pro rata basis over the period from the date of grant to the relevant date where: 

  

	 	(1)	a Court orders a meeting to be held in relation to a proposed compromise or arrangement for the purposes of or in connection with a scheme for the reconstruction of the Company or
its amalgamation with any other company or companies; 

  

	 	(2)	any person may become bound or entitled to acquire shares in the Company under: 

  

	 	(A)	section 414 of the Corporations Act (upon a scheme of arrangement being approved); or 

  

	 	(B)	Chapter 6A of the Corporations Act (compulsory acquisition following a takeover bid); 

  

	 	(3)	a resolution is proposed to be put to shareholders proposing a voluntary winding up; or 

  

	 	(4)	an order is sought for the compulsory winding up of the Company. 

  

	 	(b)	Where the Board makes a determination pursuant to rule 7.2(a), the Board will immediately give written notice to each Participant of the number of Performance Rights and Options
that vest pursuant to rule 7.2(a), in relation to any Options that vest, the period within which the Options may be exercised. 

  

	 	(c)	If the Board does not make a determination, or determines that only some of a Participant’s Performance Rights or Options will vest, all Performance Rights or Options that
remain unvested will automatically lapse. 

  

	 	7.3	Acquisition of shares in Acquiring Company 

  

	 	  	If a company (Acquiring Company) obtains control of the Company as a result of: 

  

	 	(a)	a Takeover Bid; or 

  

	 	(b)	a proposed scheme of arrangement between the Company and its shareholders; or 

  

	 	(c)	another corporate action, and the Company, the Acquiring Company and the Participant agree, a Participant may, upon: 

  

 Page 8 

	 	(1)	vesting of Performance Rights; or 

  

	 	(2)	exercise of Options, 

  

	 	  	be provided with shares of the Acquiring Company or its parent in lieu of Shares, on substantially the same terms and subject to substantially the same conditions as the Shares, but
with appropriate adjustments to the number and kind of shares subject to the Performance Rights or Options. 

  

	8	Bonus Issues, Rights Issues and Reconstruction 

  

	 	(a)	If: 

  

	 	(1)	shares are issued pro rata to the Company’s shareholders generally by way of bonus issue (other than an issue in lieu of dividends or by way of dividend reinvestment) involving
capitalisation of reserves or distributable profits; or 

  

	 	(2)	any reorganisation (including consolidation, subdivision, reduction or return) of the issued capital of the Company is effected, 

  

	 	  	the number of Performance Rights or Options to which each Participant is entitled, or any amount payable on exercise of an Option, or both as appropriate, will be adjusted in the
manner determined by the Board to ensure that no advantage or disadvantage accrues to the Participant as a result of such corporate actions. 

  

	 	(b)	If Shares are offered pro rata for subscription by the Company’s shareholders generally by way of a rights issue during the currency of and prior to: 

 

	 	(1)	the vesting of any Performance Rights; or 

  

	 	(2)	the exercise of any Options, 

  

	 	  	the Board may, in its discretion, adjust the number of Options or Performance Rights (or Shares subject to either) to take account of the rights issue. 

  

	 	(c)	If any additional Performance Rights or Options are granted to a Participant pursuant to rule 8(a) or rule 8(b), such Performance Rights or Options will be subject to the same terms
and conditions as the original Performance Rights or Options including, without limitation, any Performance Conditions. 

  

	9	Overseas transfer 

  

	  	If a Participant is transferred to work in another country and, as a result of that transfer, the Participant would: 

  

	 	(a)	suffer a tax disadvantage in relation to their Performance Rights or Options (this being demonstrated to the satisfaction of the Board); or 

  

	 	(b)	become subject to restrictions on their ability to deal with the Performance Rights or Options, or to hold or deal in the Shares or the proceeds of the share of the Shares acquired
on vesting or exercise, because of the security laws or exchange control laws of the country to which he is transferred, 

  

 Page 9 

	  	then, if the Participant continues to hold an office or employment with a Group Company, the Board may decide that the Performance Rights and/or Options will vest on a date it
chooses before or after the transfer takes effect. The Performance Rights and/or Options will vest to the extent permitted by the Board and will not lapse as to the balance. 

  

	10	Withholding 

  

	 	(a)	If any Group Company is obliged, or reasonably believes it may have an obligation, as a result of or in connection with: 

  

	 	(1)	the grant of Options or Performance Rights to a Participant, or the vesting of such Options or Performance Rights; or 

  

	 	(2)	the allocation of Shares to a Participant upon vesting of Performance Rights or exercise of Options, 

  

	 	  	to account for income tax or employment taxes under any wage, withholding or other arrangements or for any other tax, social security contributions or levy or charge of a similar
nature, then the Group Company is entitled to be reimbursed by the Participant for the amount or amounts so paid or payable. 

  

	 	(b)	Where paragraph (a) applies, the Company is not obliged to grant the Options or Performance Rights or to allocate the Shares to the Participant unless the Group Company is
satisfied that arrangements have been made for reimbursement. Those arrangements may include, without limitation, the sale, on behalf of the Participant, of Shares issued or transferred or otherwise to be allocated to the Participant and where this
happens, the Participant will also reimburse the costs of any such sale (e.g. stamp duty, brokerage, etc). 

  

	11	Amendments 

  

	 	11.1	Power to amend Plan 

  

	 	  	Subject to rule 11.2, the Board may at any time by resolution amend or add to (amend) all or any of the provisions of the Plan, or the terms or conditions of any Performance
Right or Option granted under the Plan. 

  

	 	11.2	Restrictions on amendments 

  

	 	  	Without the consent of the Participant, no amendment may be made to the terms of any granted Performance Right or Option which reduces the rights of the Participant in respect of
that Performance Right or Option, other than an amendment introduced primarily: 

  

	 	(a)	for the purpose of complying with or conforming to present or future laws governing or regulating the maintenance or operation of the Plan or similar Plans, in any jurisdiction in
which invitations under the Plan have been made; 

  

 Page 10 

	 	(b)	to correct any manifest error or mistake; or 

  

	 	(c)	to take into consideration possible adverse tax implications in respect of the Plan arising from, amongst others, adverse rulings, changes to tax legislation and/or changes in the
interpretation of tax legislation by a court of competent jurisdiction. 

  

	 	11.3	Notice of amendment 

  

	 	  	As soon as reasonably practicable after making any amendment under rule 11.1, the Board will give notice in writing of that amendment to any Participant affected by the amendment.

  

	12	Miscellaneous 

  

	 	12.1	Rights and obligations of Participant 

  

	 	(a)	Unless the subject of an express provision in an employment contract, the rights and obligations of any Eligible Executive under the terms of their office, employment or contract
with a Group Company are not affected by their participation in the Plan. 

  

	 	(b)	These rules will not form part of and are not incorporated into any contract of any Eligible Executive (whether or not they are an employee of a Group Company).

  

	 	(c)	The grant of Options and Performance Rights on a particular basis in any year does not create any right or expectation of the grant of Options or Performance Rights on the same
basis, or at all, in any future year. 

  

	 	(d)	No Participant has any right to compensation for any loss in relation to the Plan, including: 

  

	 	(1)	any loss or reduction of any rights or expectations under the Plan in any circumstances or for any reason (including lawful or unlawful termination of employment or the employment
relationship); 

  

	 	(2)	any exercise of a discretion or a decision taken in relation to a grant of Options or Performance Rights or in relation to the Plan, or any failure to exercise a discretion under
these Rules; or 

  

	 	(3)	the operation, suspension, termination or amendments of the Plan. 

  

	 	12.2	Power of the Board 

  

	 	(a)	The Plan is administered by the Board which has power to: 

  

	 	(1)	determine appropriate procedures for administration of the Plan consistent with these rules; and 

  

	 	(2)	delegate to any one or more persons for such period and on such conditions as it may determine the exercise of any of its powers or discretions arising under the Plan.

  

	 	(b)	Except as otherwise expressly provided in the Plan, the Board has absolute and unfettered discretion to act or refrain from acting under or in connection with the Plan and in the
exercise of any power or discretion under the Plan. 

  

 Page 11 

	 	12.3	Waiver of terms and conditions 

  

	  	Notwithstanding any other provisions of the Plan, the Board may at any time waive in whole or in part any terms or conditions (including any Performance Condition) in relation to
any Performance Rights or Options granted to any Participant. 

  

	 	12.4	Dispute or disagreement 

  

	 	  	In the event of any dispute or disagreement as to the interpretation of the Plan, or as to any question or right arising from or related to the Plan or to any Performance Rights or
Options granted under it, the decision of the Board is final and binding. 

  

	 	12.5	When employment ceases 

  

	 	  	For the purposes of this Plan, a Participant will not be treated as ceasing to be an employee of a Group Company until such time as the Participant is no longer an employee of any
Group Company. Subject to applicable laws, at the discretion of the Board, a Participant who is granted an approved leave of absence and who exercises their right to return to work under any applicable award, enterprise agreement, other agreement,
statute or regulation before the vesting of a Performance Right or exercise of an Option under the Plan will be treated for those purposes as not having ceased to be such an employee. 

  

	 	12.6	Non-Australian residents 

  

	 	  	When a Performance Right or Option is granted under the Plan to a person who is not a resident of Australia, the provisions of the Plan apply subject to such alterations or
additions as the Board determines having regard to any applicable or relevant laws, matters of convenience and desirability and similar factors which may have application to the Participant or to any Group Company in relation to the Performance
Right or Option. 

  

	 	12.7	Communication 

  

	 	(a)	Any notice or other communication under or in connection with the Plan may be given by personal delivery or by sending the same by post or facsimile, in the case of a company to its
registered office, and in the case of an individual to the individual’s last notified address, or, where a Participant is a director or employee of a Group Company, either to the Participant’s last known address, email address or to the
address of the place of business at which the Participant performs the whole or substantially the whole of the duties of the Participant’s office or employment. 

  

	 	(b)	Where a notice or other communication is given by post, it is deemed to have been received 48 hours after it was put into the post properly addressed and stamped. Where a notice or
other communication is given by facsimile or email, it is deemed to have been received on completion of transmission. 

  

 Page 12 

	 	12.8	Data protection 

  

	 	  	By participating in the Plan, the Participant consents to the holding and processing of personal data provided by the Participant to a Group Company for all purposes relating to the
operation of the Plan. These include, but are not limited to: 

  

	 	(a)	administering and maintaining Participant records; 

  

	 	(b)	providing information to trustees of any employee benefit trust, registrars, brokers or third party administrators of the Plan; and 

  

	 	(c)	providing information to future purchasers of the Company or the business in which the Participant works. 

  

	 	12.9	Laws governing Plan 

  

	 	  	The Plan and any Performance Rights or Options issued under it are governed by the laws of Victoria and the Commonwealth of Australia. 

  

	13	Definitions and Interpretation 

  

	 	13.1	Definitions 

 ASX means the Australian Stock
Exchange Limited; 
 Board means the board of directors of the Company, any committee of the Board or a duly authorised person or body
to which the Board has delegated its powers under this Plan; 
 Business Day means a day other than a Saturday, Sunday or a public
holiday in Melbourne, Victoria; 
 Company means Ansell Limited, ABN 89 004 085 330; 
 Dealing in relation to a Performance Right, an Option or a Share (as the case may be) means any dealing , including but not limited to, a sale,
transfer, assignment, trust, encumbrance, option, swap, any alienation of all or any part of the rights attaching to the Performance Right, Option or Share, and includes any attempt to so deal and also includes any hedging or dealing with a
derivative instrument intended to “lock in” a profit relating to a Share, Performance Right or Option; 
 Eligible Executive
means a person who is declared by the Board to be eligible to receive grants of Performance Rights and/or Options under the Plan; 
 Group
Company means the Company, its Subsidiaries and any other entity declared by the Board to be a member of the group for the purposes of the Plan; 
 Listing Rules means the official Listing Rules of the ASX as they apply to the Company from time to time; 
  

 Page 13 

 Option means a right to acquire a Share whether by purchase or subscription, subject to
satisfaction of the Performance Conditions and payment of the applicable exercise price; 
 Participant means a person who holds a
Performance Right and/or an Option (or a Share granted under the Plan) from time to time; 
 Performance Condition means one or more
conditions which must be satisfied or circumstances which must exist before a Performance Right or an Option vests; 
 Performance
Right means an entitlement to a Share subject to satisfaction of Performance Conditions; 
 Plan means the Ansell Limited Long Term
Incentive Plan as set out in these Rules; 
 Rules means the terms and conditions of the Plan as set out in this document as amended
from time to time; 
 Share means a fully paid ordinary share in the capital of the Company; 
 Subsidiary has the meaning given in section 9 of the Corporations Act; and 
 Takeover Bid has the meaning given in section 9 of the Corporations Act. 
  

	 	13.2	Interpretation 

  

	 	  	In the Plan, the following rules apply unless a contrary intention appears: 

  

	 	(a)	headings are for convenience only and do not affect the interpretation of the Plan unless the context requires otherwise; 

  

	 	(b)	any reference in the Plan to any enactment or the Listing Rules includes a reference to that enactment or those Listing Rules as from time to time amended, consolidated, re-enacted
or replaced; 

  

	 	(c)	any words denoting the singular include the plural and words denoting the plural include the singular; 

  

	 	(d)	any words denoting one gender include the other gender; and 

  

	 	(e)	where any word or phrase is given a definite meaning in this Plan, any part of speech or other grammatical form of that word or phrase has a corresponding meaning.

  

 Page 14

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]