Document:

exv4w1

 

 Exhibit 4.1

 

SIMS GROUP LIMITED

AND

THE BANK OF NEW YORK

As Depositary

AND

OWNERS AND HOLDERS OF AMERICAN DEPOSITARY SHARES

Amended and Restated Deposit Agreement

Dated as of                     , 2008

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	ARTICLE 1. DEFINITIONS	 	- 1 -
	 

	 	SECTION 1.01 American Depositary Shares
	 	- 2 -
	 

	 	SECTION 1.02 Commission
	 	- 2 -
	 

	 	SECTION 1.03 Company
	 	- 2 -
	 

	 	SECTION 1.04 Custodian
	 	- 2 -
	 

	 	SECTION 1.05 Deliver; Surrender
	 	- 2 -
	 

	 	SECTION 1.06 Deposit Agreement
	 	- 3 -
	 

	 	SECTION 1.07 Depositary; Corporate Trust Office
	 	- 3 -
	 

	 	SECTION 1.08 Deposited Securities
	 	- 3 -
	 

	 	SECTION 1.09 Dollars
	 	- 4 -
	 

	 	SECTION 1.10 DTC
	 	- 4 -
	 

	 	SECTION 1.11 Foreign Registrar
	 	- 4 -
	 

	 	SECTION 1.12 Holder
	 	- 4 -
	 

	 	SECTION 1.13 Owner
	 	- 4 -
	 

	 	SECTION 1.14 Receipts
	 	- 4 -
	 

	 	SECTION 1.15 Registrar
	 	- 4 -
	 

	 	SECTION 1.16 Restricted Securities
	 	- 4 -
	 

	 	SECTION 1.17 Securities Act of 1933
	 	- 5 -
	 

	 	SECTION 1.18 Shares
	 	- 5 -
	 
	 	 	 	 
	ARTICLE 2. FORM OF RECEIPTS, DEPOSIT OF SHARES, DELIVERY, TRANSFER AND
SURRENDER OF AMERICAN DEPOSITARY SHARES
	 	- 5 -
	 

	 	SECTION 2.01 Form of Receipts; Registration and Transferability of American
Depositary Shares
	 	- 5 -
	 

	 	SECTION 2.02 Deposit of Shares
	 	- 6 -
	 

	 	SECTION 2.03 Delivery of American Depositary Shares
	 	- 7 -
	 

	 	SECTION 2.04 Registration of Transfer of American Depositary Shares;
Combination and Split-up of Receipts; Interchange of Certificated and
Uncertificated American Depositary Shares

	 	- 8 -
	 

	 	SECTION 2.05 Surrender of American Depositary Shares and Withdrawal of
Deposited Securities
	 	- 9 -
	 

	 	SECTION 2.06 Limitations on Delivery, Transfer and Surrender of American
Depositary Shares
	 	- 9 -
	 

	 	SECTION 2.07 Lost Receipts, etc
	 	- 10 -
	 

	 	SECTION 2.08 Cancellation and Destruction of Surrendered Receipts
	 	- 11 -
	 

	 	SECTION 2.09 Pre-Release of American Depositary Shares
	 	- 11 -

i

 

	 	 	 	 	 
	 

	 	SECTION 2.10 DTC Direct Registration System and Profile Modification
System
	 	- 12 -
	 
	 	 	 	 
	ARTICLE 3. CERTAIN OBLIGATIONS OF OWNERS AND HOLDERS OF AMERICAN DEPOSITARY SHARES	 	- 12 -
	 

	 	SECTION 3.01 Filing Proofs, Certificates and Other Information
	 	- 12 -
	 

	 	SECTION 3.02 Liability of Owner for Taxes
	 	- 13 -
	 

	 	SECTION 3.03 Warranties on Deposit of Shares
	 	- 13 -
	 
	 	 	 	 
	ARTICLE 4. THE DEPOSITED SECURITIES	 	- 13 -
	 

	 	SECTION 4.01 Cash Distributions
	 	- 13 -
	 

	 	SECTION 4.02 Distributions Other Than Cash, Shares or Rights
	 	- 14 -
	 

	 	SECTION 4.03 Distributions in Shares
	 	- 15 -
	 

	 	SECTION 4.04 Rights
	 	- 16 -
	 

	 	SECTION 4.05 Conversion of Foreign Currency

	 	- 17 -
	 

	 	SECTION 4.06 Fixing of Record Date
	 	- 18 -
	 

	 	SECTION 4.07 Voting of Deposited Securities
	 	- 19 -
	 

	 	SECTION 4.08 Changes Affecting Deposited Securities
	 	- 20 -
	 

	 	SECTION 4.09 Reports
	 	- 21 -
	 

	 	SECTION 4.10 Lists of Owners
	 	- 21 -
	 

	 	SECTION 4.11 Withholding
	 	- 21 -
	 
	 	 	 	 
	ARTICLE 5. THE DEPOSITARY, THE CUSTODIANS AND THE COMPANY	 	- 21 -
	 

	 	SECTION 5.01 Maintenance of Office and Transfer Books by the Depositary
	 	- 21 -
	 

	 	SECTION 5.02 Prevention or Delay in Performance by the Depositary or the
Company
	 	- 22 -
	 

	 	SECTION 5.03 Obligations of the Depositary, the Custodian and the Company
	 	- 23 -
	 

	 	SECTION 5.04 Resignation and Removal of the Depositary
	 	- 24 -
	 

	 	SECTION 5.05 The Custodians
	 	- 24 -
	 

	 	SECTION 5.06 Notices and Reports
	 	- 25 -
	 

	 	SECTION 5.07 Distribution of Additional Shares, Rights, etc
	 	- 25 -
	 

	 	SECTION 5.08 Indemnification
	 	- 26 -
	 

	 	SECTION 5.09 Charges of Depositary
	 	- 27 -
	 

	 	SECTION 5.10 Retention of Depositary Documents
	 	- 28 -
	 

	 	SECTION 5.11 Exclusivity
	 	- 28 -
	 

	 	SECTION 5.12 List of Restricted Securities Owners
	 	- 28 -

ii

 

	 	 	 	 	 
	 
	 	 	 	 
	ARTICLE 6. AMENDMENT AND TERMINATION	 	- 28 -
	 

	 	SECTION 6.01 Amendment
	 	- 28 -
	 

	 	SECTION 6.02 Termination
	 	- 29 -
	 
	 	 	 	 
	ARTICLE 7. MISCELLANEOUS	 	- 30 -
	 

	 	SECTION 7.01 Counterparts
	 	- 30 -
	 

	 	SECTION 7.02 No Third Party Beneficiaries
	 	- 30 -
	 

	 	SECTION 7.03 Severability
	 	- 30 -
	 

	 	SECTION 7.04 Owners and Holders as Parties; Binding Effect
	 	- 30 -
	 

	 	SECTION 7.05 Notices
	 	- 31 -
	 

	 	SECTION 7.06 Submission to Jurisdiction; Appointment of Agent for
Service of Process; Jury Trial Waiver 	 	- 31 -
	 

	 	SECTION 7.07 Waiver of Immunities
	 	- 32 -
	 

	 	SECTION 7.08 Governing Law
	 	- 32 -

iii

 

AMENDED AND RESTATED DEPOSIT AGREEMENT

          AMENDED AND RESTATED DEPOSIT AGREEMENT dated as of ___, 2008 among SIMS GROUP LIMITED,
a company incorporated under the laws of the State of Victoria, Australia (herein called the
Company), THE BANK OF NEW YORK, a New York banking corporation (herein called the Depositary), and
all Owners and Holders from time to time of American Depositary Shares issued hereunder.

W I T N E S S E T H:

          WHEREAS, the Company and the Depositary entered into a deposit agreement dated as of October
21, 1994 (the “Prior Deposit Agreement”) for the purposes stated in that agreement; and

          WHEREAS, the Issuer and Depositary now wish to amend and restate the Prior Deposit Agreement
to, among other things, (i) provide that American Depositary Shares may be uncertificated or
certificated securities, (ii) change the fees and charges of the Depositary and (iii) reflect that
the Company has or intends to become a reporting company under the Securities Exchange Act of 1934,
as amended; and

          WHEREAS, the Company desires to provide, as hereinafter set forth in this Amended and Restated
Deposit Agreement, for the deposit of Shares (as hereinafter defined) of the Company from time to
time with the Depositary or with the Custodian (as hereinafter defined) as agent of the Depositary
for the purposes set forth in this Amended and Restated Deposit Agreement, for the creation of
American Depositary Shares representing the Shares so deposited and for the execution and delivery
of American Depositary Receipts evidencing the American Depositary Shares; and

          WHEREAS, the American Depositary Receipts are to be substantially in the form of Exhibit A
annexed hereto, with appropriate insertions, modifications and omissions, as hereinafter provided
in this Amended and Restated Deposit Agreement;

          NOW, THEREFORE, in consideration of the premises, it is agreed by and between the parties
hereto that the Prior Deposit Agreement is hereby amended and restated as follows:

ARTICLE 1. DEFINITIONS

     The following definitions shall for all purposes, unless otherwise clearly indicated, apply to
the respective terms used in this Deposit Agreement:

- 1 -

 

     SECTION 1.01 American Depositary Shares.

          The term “American Depositary Shares” shall mean the securities created under this Deposit
Agreement representing rights with respect to the Deposited Securities. American Depositary Shares
may be certificated securities evidenced by Receipts or uncertificated securities. The form of
Receipt annexed as Exhibit A to this Deposit Agreement shall be the prospectus required under the
Securities Act of 1933 for sales of both certificated and uncertificated American Depositary
Shares. Except for those provisions of this Deposit Agreement that refer specifically to Receipts,
all the provisions of this Deposit Agreement shall apply to both certificated and uncertificated
American Depositary Shares. Each American Depositary Share shall represent the number of Shares
specified in Exhibit A to this Deposit Agreement, until there shall occur a distribution upon
Deposited Securities covered by Section 4.03 or a change in Deposited Securities covered by Section
4.08 with respect to which additional American Depositary Shares are not delivered, and thereafter
American Depositary Shares shall represent the amount of Shares or Deposited Securities specified
in such Sections.

     SECTION 1.02 Commission.

          The term “Commission” shall mean the Securities and Exchange Commission of the United States
or any successor governmental agency in the United States.

     SECTION 1.03 Company.

          The term “Company” shall mean Sims Group Limited, a company incorporated under the laws of the
State of Victoria, Australia, and its successors.

     SECTION 1.04 Custodian.

          The term “Custodian” shall mean each of the principal Melbourne, Australia office of Australia
and New Zealand Banking Group, the principal, Melbourne, Australia office of National Australia
Bank and the principal Sydney, Australia office of Westpac Banking Corporation, as agent of the
Depositary for the purposes of this Deposit Agreement, and any other firm or corporation which may
hereafter be appointed by the Depositary pursuant to the terms of Section 5.05, as substitute or
additional custodian or custodians hereunder, as the context shall require and shall also mean all
of them collectively.

     SECTION 1.05 Deliver; Surrender.

          (a) The term “deliver”, or its noun form, when used with respect to Shares or other Deposited
Securities, shall mean (i) book-entry transfer of those Shares or other Deposited Securities to an
account maintained by an institution authorized under applicable law to effect transfers of such
securities designated by the person entitled to

- 2 -

 

that delivery or (ii) physical transfer of certificates evidencing those Shares or other
Deposited Securities registered in the name of, or duly endorsed or accompanied by proper
instruments of transfer to, the person entitled to that delivery.

          (b) The term “deliver”, or its noun form, when used with respect to American Depositary
Shares, shall mean (i) book-entry transfer of American Depositary Shares to an account at DTC
designated by the person entitled to such delivery, evidencing American Depositary Shares
registered in the name requested by that person, (ii) registration of American Depositary Shares
not evidenced by a Receipt on the books of the Depositary in the name requested by the person
entitled to such delivery and mailing to that person of a statement confirming that registration
or (iii) if requested by the person entitled to such delivery, delivery at the Corporate Trust
Office of the Depositary to the person entitled to such delivery of one or more Receipts.

          (c) The term “surrender”, when used with respect to American Depositary Shares, shall mean (i)
one or more book-entry transfers of American Depositary Shares to the DTC account of the
Depositary, (ii) delivery to the Depositary at its Corporate Trust Office of an instruction to
surrender American Depositary Shares not evidenced by a Receipt or (iii) surrender to the
Depositary at its Corporate Trust Office of one or more Receipts evidencing American Depositary
Shares.

     SECTION 1.06 Deposit Agreement.

          The term “Deposit Agreement” shall mean this Amended and Restated Deposit Agreement, as the
same may be amended from time to time in accordance with the provisions hereof.

     SECTION 1.07 Depositary; Corporate Trust Office.

          The term “Depositary” shall mean The Bank of New York, a New York banking corporation, and any
successor as depositary hereunder. The term “Corporate Trust Office”, when used with respect to
the Depositary, shall mean the office of the Depositary which at the date of this Deposit Agreement
is 101 Barclay Street, New York, New York 10286.

     SECTION 1.08 Deposited Securities.

          The term “Deposited Securities” as of any time shall mean Shares at such time deposited or
deemed to be deposited under this Deposit Agreement, including without limitation Shares that have
not been successfully delivered upon surrender of American Depositary Shares, and any and all other
securities, property and cash received by the Depositary or the Custodian in respect thereof and at
such time held under this Deposit Agreement, subject as to cash to the provisions of Section 4.05.

- 3 -

 

     SECTION 1.09 Dollars.

          The term “Dollars” shall mean United States dollars.

     SECTION 1.10 DTC.

          The term “DTC” shall mean The Depository Trust Company or its successor.

     SECTION 1.11 Foreign Registrar.

          The term “Foreign Registrar” shall mean the entity that presently carries out the duties of
registrar for the Shares or any successor as registrar for the Shares and any other agent of the
Company for the transfer and registration of Shares, including without limitation any securities
depository for the Shares.

     SECTION 1.12 Holder.

          The term “Holder” shall mean any person holding a Receipt or a security entitlement or other
interest in American Depositary Shares, whether for its own account or for the account of another
person, but that is not the Owner of that Receipt or those American Depositary Shares.

     SECTION 1.13 Owner.

          The term “Owner” shall mean the person in whose name American Depositary Shares are registered
on the books of the Depositary maintained for such purpose.

     SECTION 1.14 Receipts.

          The term “Receipts” shall mean the American Depositary Receipts issued hereunder evidencing
certificated American Depositary Shares, as the same may be amended from time to time in accordance
with the provisions hereof.

     SECTION 1.15 Registrar.

          The term “Registrar” shall mean any bank or trust company having an office in the Borough of
Manhattan, The City of New York, that is appointed by the Depositary to register American
Depositary Shares and transfers of American Depositary Shares as herein provided.

     SECTION 1.16 Restricted Securities.

          The term “Restricted Securities” shall mean Shares, or American Depositary Shares representing
Shares, that are acquired directly or indirectly from the

- 4 -

 

           Company or its affiliates (as defined in Rule 144 under the Securities Act of 1933) in a
transaction or chain of transactions not involving any public offering, or that are subject to
resale limitations under Regulation D under the Securities Act of 1933 or both, or which are held
by an officer, director (or persons performing similar functions) or other affiliate of the
Company, or that would require registration under the Securities Act of 1933 in connection with the
offer and sale thereof in the United States, or that are subject to other restrictions on sale or
deposit under the laws of the United States or Australia, or under a shareholder agreement or the
constitution or similar document of the Company.

     SECTION 1.17 Securities Act of 1933.

          The term “Securities Act of 1933” shall mean the United States Securities Act of 1933, as from
time to time amended.

     SECTION 1.18 Shares.

          The term “Shares” shall mean ordinary shares of the Company that are validly issued and
outstanding and fully paid, nonassessable and that were not issued in violation of any pre-emptive
or similar rights of the holders of outstanding securities of the Company; provided,
however, that, if there shall occur any change in nominal value, a split-up or
consolidation or any other reclassification or, upon the occurrence of an event described in
Section 4.08, an exchange or conversion in respect of the Shares of the Company, the term “Shares”
shall thereafter also mean the successor securities resulting from such change in nominal value,
split-up or consolidation or such other reclassification or such exchange or conversion.

ARTICLE 2. FORM OF RECEIPTS, DEPOSIT OF SHARES, DELIVERY, TRANSFER AND SURRENDER OF AMERICAN
DEPOSITARY SHARES

     SECTION 2.01 Form of Receipts; Registration and Transferability of American Depositary
Shares.

          Definitive Receipts shall be substantially in the form set forth in Exhibit A annexed to this
Deposit Agreement, with appropriate insertions, modifications and omissions, as hereinafter
provided. No Receipt shall be entitled to any benefits under this Deposit Agreement or be valid or
obligatory for any purpose, unless such Receipt shall have been (i) executed by the Depositary by
the manual signature of a duly authorized officer of the Depositary or (ii) executed by the
facsimile signature of a duly authorized officer of the Depositary and countersigned by the manual
signature of a duly authorized signatory of the Depositary or a Registrar. The Depositary shall
maintain books on which (x) each Receipt so executed and delivered as hereinafter provided and the
transfer of each such Receipt shall be registered and (y) all American Depositary Shares delivered
as hereinafter provided and all registrations of transfer of American Depositary Shares shall be
registered. A Receipt bearing the facsimile signature of a person that was at any

- 5 -

 

time a proper officer of the Depositary shall, subject to the other provisions of this
paragraph, bind the Depositary, notwithstanding that such person was not a proper officer of the
Depositary on the date of issuance of that Receipt.

          The Receipts may be endorsed with or have incorporated in the text thereof such legends or
recitals or modifications not inconsistent with the provisions of this Deposit Agreement as may be
reasonably required by the Depositary or required to comply with any applicable law or regulations
thereunder or with the rules and regulations of any securities exchange upon which American
Depositary Shares may be listed or to conform with any usage with respect thereto, or to indicate
any special limitations or restrictions to which any particular Receipts are subject by reason of
the date of issuance of the underlying Deposited Securities or otherwise.

          American Depositary Shares evidenced by a Receipt, when properly endorsed or accompanied by
proper instruments of transfer, shall be transferable as certificated registered securities under
the laws of New York. American Depositary Shares not evidenced by Receipts shall be transferable as
uncertificated registered securities under the laws of New York. The Depositary, notwithstanding
any notice to the contrary, may treat the Owner of American Depositary Shares as the absolute owner
thereof for the purpose of determining the person entitled to distribution of dividends or other
distributions or to any notice provided for in this Deposit Agreement and for all other purposes,
and neither the Depositary nor the Company shall have any obligation or be subject to any liability
under this Deposit Agreement to any Holder of American Depositary Shares unless that Holder is the
Owner of those American Depositary Shares.

     SECTION 2.02 Deposit of Shares.

          Subject to the terms and conditions of this Deposit Agreement, Shares or evidence of rights to
receive Shares may be deposited by delivery thereof to any Custodian hereunder, accompanied by any
appropriate instruments or instructions for transfer, or endorsement, in industry-standard form
satisfactory to the Custodian, together with all such certifications in industry-standard form or a
form agreed to by the Company as may be required by the Depositary or the Custodian in accordance
with the provisions of this Deposit Agreement, and, if the Depositary requires, together with a
written order directing the Depositary to deliver to, or upon the written order of, the person or
persons stated in such order, the number of American Depositary Shares representing such deposit.

          No Share shall be accepted for deposit unless accompanied by evidence reasonably satisfactory
to the Depositary that any necessary approval has been granted, and that such deposit is not
prohibited, by any governmental body in Australia that is then performing the function of the
regulation of currency exchange. If required by the Depositary, Shares presented for deposit at any
time, whether or not the transfer books of the Company or the Foreign Registrar, if applicable, are
closed, shall also be accompanied by an agreement or assignment, or other instrument in
industry-standard

- 6 -

 

form satisfactory to the Depositary, which will provide for the prompt transfer to the
Custodian of any dividend, or right to subscribe for additional Shares or to receive other property
which any person in whose name the Shares are or have been recorded may thereafter receive upon or
in respect of such deposited Shares, or in lieu thereof, such agreement of indemnity or other
agreement in industry-standard form satisfactory to the Depositary.

          At the request and risk and expense of any person proposing to deposit Shares, and for the
account of such person, the Depositary may receive certificates for Shares to be deposited,
together with the other instruments herein specified, for the purpose of forwarding such Share
certificates to the Custodian for deposit hereunder.

          Upon each delivery to a Custodian of a certificate or certificates for Shares to be deposited
hereunder, together with the other documents specified above, such Custodian shall, as soon as
transfer and recordation can be accomplished, present such certificate or certificates to the
Company or the Foreign Registrar, if applicable, for transfer and recordation of the Shares being
deposited in the name of the Depositary or its nominee or such Custodian or its nominee.

          Deposited Securities shall be held by the Depositary or by a Custodian for the account and to
the order of the Depositary or at such other place or places as the Depositary shall determine.

     SECTION 2.03 Delivery of American Depositary Shares.

          Upon receipt by any Custodian of any deposit pursuant to Section 2.02 hereunder, together with
the other documents required as specified above, such Custodian shall notify the Depositary of such
deposit and the person or persons to whom or upon whose written order American Depositary Shares
are deliverable in respect thereof and the number of American Depositary Shares to be so delivered.
Such notification shall be made by letter or, at the request, risk and expense of the person making
the deposit, by cable, telex or facsimile transmission (and in addition, if the transfer books of
the Company or the Foreign Registrar, if applicable, are open, the Depositary may in its sole
discretion require a proper acknowledgment or other evidence from the Company or the Foreign
Registrar that any Deposited Securities have been recorded upon the books of the Company or the
Foreign Registrar, if applicable, in the name of the Depositary or its nominee or such Custodian or
its nominee). Upon receiving such notice from such Custodian, or upon the receipt of Shares or
evidence of the right to receive Shares by the Depositary, the Depositary, subject to the terms and
conditions of this Deposit Agreement, shall deliver, without unreasonable delay, to or upon the
order of the person or persons entitled thereto, the number of American Depositary Shares issuable
in respect of that deposit, but only upon payment to the Depositary of the fees and expenses of the
Depositary for the delivery of such American Depositary Shares as provided in Section 5.09, and of
all taxes and governmental charges and fees payable in connection with such deposit and the
transfer of the Deposited Securities.

- 7 -

 

     SECTION 2.04 Registration of Transfer of American Depositary Shares; Combination and
Split-up of Receipts; Interchange of Certificated and Uncertificated American Depositary
Shares.

          The Depositary, subject to the terms and conditions of this Deposit Agreement, shall register
transfers of American Depositary Shares on its transfer books from time to time, upon (i) in the
case of certificated American Depositary Shares, surrender of the Receipt evidencing those American
Depositary Shares, by the Owner in person or by a duly authorized attorney, properly endorsed or
accompanied by proper instruments of transfer or (ii) in the case of uncertificated American
Depositary Shares, receipt from the Owner of a proper instruction (including, for the avoidance of
doubt, instructions through DRS and Profile as provided in Section 2.10), and, in either case, duly
stamped as may be required by the laws of the State of New York and of the United States of
America. Thereupon the Depositary shall deliver those American Depositary Shares to or upon the
order of the person entitled thereto.

          The Depositary, subject to the terms and conditions of this Deposit Agreement, shall upon
surrender of a Receipt or Receipts for the purpose of effecting a split-up or combination of such
Receipt or Receipts, execute and deliver a new Receipt or Receipts for any authorized number of
American Depositary Shares requested, evidencing the same aggregate number of American Depositary
Shares as the Receipt or Receipts surrendered.

          The Depositary, upon surrender of certificated American Depositary Shares for the purpose of
exchanging for uncertificated American Depositary Shares, shall cancel those certificated American
Depositary Shares and send the Owner a statement confirming that the Owner is the owner of the same
number of uncertificated American Depositary Shares. The Depositary, upon receipt of a proper
instruction (including, for the avoidance of doubt, instructions through DRS and Profile as
provided in Section 2.10) from the Owner of uncertificated American Depositary Shares for the
purpose of exchanging for certificated American Depositary Shares, shall cancel those
uncertificated American Depositary Shares and deliver to the Owner the same number of certificated
American Depositary Shares.

          The Depositary may appoint one or more co-transfer agents for the purpose of effecting
registration of transfers of American Depositary Shares and combinations and split-ups of Receipts
at designated transfer offices on behalf of the Depositary. In carrying out its functions, a
co-transfer agent may require evidence of authority and compliance with applicable laws and other
requirements by Owners or persons entitled to American Depositary Shares and will be entitled to
protection and indemnity to the same extent as the Depositary.

- 8 -

 

     SECTION 2.05 Surrender of American Depositary Shares and Withdrawal of Deposited
Securities.

          Upon surrender at the Corporate Trust Office of the Depositary of American Depositary Shares
for the purpose of withdrawal of the Deposited Securities represented thereby, and upon payment of
the fee of the Depositary for the surrender of American Depositary Shares as provided in Section
5.09 and payment of all taxes and governmental charges payable in connection with such surrender
and withdrawal of the Deposited Securities, and subject to the terms and conditions of this Deposit
Agreement, the Owner of those American Depositary Shares shall be entitled to delivery, to him or
as instructed, of the amount of Deposited Securities at the time represented by those American
Depositary Shares. Such delivery shall be made, as hereinafter provided, without unreasonable
delay on the part of the Depositary.

          A Receipt surrendered for such purposes may be required by the Depositary to be properly
endorsed in blank or accompanied by proper instruments of transfer in blank. The Depositary may
require the surrendering Owner to execute and deliver to the Depositary a written order directing
the Depositary to cause the Deposited Securities being withdrawn to be delivered to or upon the
written order of a person or persons designated in such order. Thereupon the Depositary shall
direct the Custodian to deliver at the office of such Custodian, subject to Sections 2.06, 3.01 and
3.02 and to the other terms and conditions of this Deposit Agreement, to or upon the written order
of the person or persons designated in the order delivered to the Depositary as above provided, the
amount of Deposited Securities represented by the surrendered American Depositary Shares, except
that the Depositary may make delivery to such person or persons at the Corporate Trust Office of
the Depositary of any dividends or distributions with respect to the Deposited Securities
represented by those American Depositary Shares, or of any proceeds of sale of any dividends,
distributions or rights, which may at the time be held by the Depositary.

          At the request, risk and expense of any Owner so surrendering American Depositary Shares, and
for the account of such Owner, the Depositary shall direct the Custodian to forward any cash or
other property (other than rights) comprising, and forward a certificate or certificates, if
applicable, and other proper documents of title for, the Deposited Securities represented by the
surrendered American Depositary Shares to the Depositary for delivery at the Corporate Trust Office
of the Depositary. Such direction shall be given by letter or, at the request, risk and expense of
such Owner, by cable, telex or facsimile transmission.

     SECTION 2.06 Limitations on Delivery, Transfer and Surrender of American Depositary
Shares.

          As a condition precedent to the delivery, registration of transfer or surrender of any American Depositary Shares or split-up or combination of any Receipt or withdrawal of any Deposited Securities, the Depositary, Custodian or Registrar may 

- 9 -

 

 require payment from the depositor of Shares or the presenter of the Receipt or instruction for registration of transfer or surrender of American Depositary Shares not evidenced by a Receipt of a sum sufficient to reimburse it for any tax or other governmental charge and any stock transfer or registration fee with respect thereto (including any such tax or charge and fee with respect to Shares being deposited or withdrawn) and payment of any applicable fees as herein provided, may require the production of
 proof reasonably satisfactory to it as to the identity and genuineness of any signature and may also require compliance with any regulations the Depositary may establish consistent with the provisions of this Deposit Agreement, including, without limitation, this Section 2.06.

          The delivery of American Depositary Shares against deposit of Shares generally or against
deposit of particular Shares may be suspended, or the transfer of American Depositary Shares in
particular instances may be refused, or the registration of transfer of outstanding American
Depositary Shares generally may be suspended, during any period when the transfer books of the
Depositary are closed, or if any such action is deemed necessary or advisable by the Depositary or
the Company at any time or from time to time because of any requirement of law or of any government
or governmental body or commission, or under any provision of this Deposit Agreement, subject to
the provisions of the following sentence. Notwithstanding anything to the contrary in this Deposit
Agreement, the surrender of outstanding American Depositary Shares and withdrawal of Deposited
Securities may only be suspended for (i) temporary delays caused by closing the transfer books of
the Depositary or the Company or the Foreign Registrar, if applicable, or the deposit of Shares in
connection with voting at a shareholders’ meeting, or the payment of dividends, (ii) the payment of
fees, taxes and similar charges, and (iii) compliance with any U.S. or foreign laws or governmental
regulations relating to the American Depositary Shares or to the withdrawal of the Deposited
Securities. Without limitation of the foregoing, the Depositary shall not knowingly accept for
deposit under this Deposit Agreement any Shares which would be required to be registered under the
provisions of the Securities Act of 1933 for public offer and sale in the United States unless a
registration statement is in effect as to such Shares for such offer and sale.

     SECTION 2.07 Lost Receipts, etc.

          In case any Receipt shall be mutilated, destroyed, lost or stolen, the Depositary shall
deliver to the Owner the American Depositary Shares evidenced by that Receipt in uncertificated
form or, if requested by the Owner, execute and deliver a new Receipt of like tenor in exchange and
substitution for such mutilated Receipt, upon cancellation thereof, or in lieu of and in
substitution for such destroyed, lost or stolen Receipt. Before the Depositary shall deliver
American Depositary Shares in uncertificated form or execute and deliver a new Receipt, in
substitution for a destroyed, lost or stolen Receipt, the Owner thereof shall have (a) filed with
the Depositary (i) a request for such execution and delivery before the Depositary has notice that
the Receipt

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has been acquired by a bona fide purchaser and (ii) a sufficient indemnity bond and (b)
satisfied any other reasonable requirements imposed by the Depositary.

     SECTION 2.08 Cancellation and Destruction of Surrendered Receipts.

          All Receipts surrendered to the Depositary shall be cancelled by the Depositary. The
Depositary is authorized, subject to Section 5.10, to destroy Receipts so cancelled.

     SECTION 2.09 Pre-Release of American Depositary Shares.

          Notwithstanding Section 2.03 hereof, the Depositary may deliver American Depositary Shares
prior to the receipt of Shares pursuant to Section 2.02 (a “Pre-Release”). The Depositary may,
pursuant to Section 2.05, deliver Shares upon the surrender of American Depositary Shares that have
been Pre-Released, whether or not such cancellation is prior to the termination of such Pre-Release
or the Depositary knows that such American Depositary Shares have been Pre-Released. The
Depositary may receive American Depositary Shares in lieu of Shares in satisfaction of a
Pre-Release. Each Pre-Release will be (a) preceded or accompanied by a written representation and
agreement from the person to whom American Depositary Shares are to be delivered (the
“Pre-Releasee”) that the Pre-Releasee, or its customer, (i) owns the Shares or American Depositary
Shares to be remitted, as the case may be, (ii) assigns all beneficial right, title and interest in
such Shares or American Depositary Shares, as the case may be, to the Depositary in its capacity as
such and for the benefit of the Owners, and (iii) will not take any action with respect to such
Shares or American Depositary Shares, as the case may be, that is inconsistent with the transfer of
beneficial ownership (including, without the consent of the Depositary, disposing of such Shares or
American Depositary Shares, as the case may be, other than in satisfaction of such Pre-Release),
(b) at all times fully collateralized with cash, U.S. government securities or such other
collateral as the Depositary determines, in good faith, will provide substantially similar
liquidity and security, (c) terminable by the Depositary on not more than five (5) business days’
notice, and (d) subject to such further indemnities and credit regulations as the Depositary
reasonably deems appropriate. The number of Shares not deposited but represented by American
Depositary Shares outstanding at any time as a result of Pre-Releases will not normally exceed
thirty percent (30%) of the Shares deposited hereunder; provided, however, that the Depositary
reserves the right to disregard such limit from time to time as it deems reasonably appropriate,
and may, with the prior written consent of the Company, change such limit for purposes of general
application. The Depositary will also set dollar limits with respect to Pre-Release transactions
to be entered into hereunder with any particular Pre-Releasee on a case-by-case basis as the
Depositary deems appropriate. For purposes of enabling the Depositary to fulfill its obligations
to the Owners under the Deposit Agreement, the collateral referred to in clause (b) above shall be
held by the Depositary as security for the performance of the Pre-Releasee’s obligations to the
Depositary in connection with a Pre-Release transaction, including the

- 11 -

 

           Pre-Releasee’s obligation to deliver Shares or American Depositary Shares upon termination of
a Pre-Release transaction (and shall not, for the avoidance of doubt, constitute Deposited
Securities hereunder).

          The Depositary may retain for its own account any compensation received by it in connection
with the foregoing.

     SECTION 2.10 DTC Direct Registration System and Profile Modification System.

          (a) Notwithstanding the provisions of Section 2.04, the parties acknowledge that the Direct
Registration System (“DRS”) and Profile Modification System (“Profile”) shall apply to
uncertificated American Depositary Shares upon acceptance thereof to DRS by DTC. DRS is the system
administered by DTC pursuant to which the Depositary may register the ownership of uncertificated
American Depositary Shares, which ownership shall be evidenced by periodic statements issued by the
Depositary to the Owners entitled thereto. Profile is a required feature of DRS which allows a DTC
participant, claiming to act on behalf of an Owner of American Depositary Shares, to direct the
Depositary to register a transfer of those American Depositary Shares to DTC or its nominee and to
deliver those American Depositary Shares to the DTC account of that DTC participant without receipt
by the Depositary of prior authorization from the Owner to register such transfer.

          (b) In connection with and in accordance with the arrangements and procedures relating to
DRS/Profile, the parties understand that the Depositary will not verify, determine or otherwise
ascertain that the DTC participant which is claiming to be acting on behalf of an Owner in
requesting a registration of transfer and delivery as described in subsection (a) has the actual
authority to act on behalf of the Owner (notwithstanding any requirements under the Uniform
Commercial Code). For the avoidance of doubt, the provisions of Sections 5.03 and 5.08 shall apply
to the matters arising from the use of the DRS. The parties agree that the Depositary’s reliance
on and compliance with instructions received by the Depositary through the DRS/Profile System and
in accordance with this Deposit Agreement shall not constitute negligence or bad faith on the part
of the Depositary.

ARTICLE 3. CERTAIN OBLIGATIONS OF OWNERS AND HOLDERS OF AMERICAN DEPOSITARY
SHARES

     SECTION 3.01 Filing Proofs, Certificates and Other Information.

          Any person presenting Shares for deposit or any Owner or holder may be required from time to
time to file with the Depositary or the Custodian such proof of citizenship or residence, exchange
control approval, or such information relating to the registration on the books of the Company or
the Foreign Registrar, if applicable, to execute such certificates and to make such representations
and warranties, as the

- 12 -

 

Depositary may reasonably deem necessary or proper. The Depositary may withhold the delivery
or registration of transfer of American Depositary Shares or the distribution of any dividend or
sale or distribution of rights or of the proceeds thereof or the delivery of any Deposited
Securities until such proof or other information is filed or such certificates are executed or such
representations and warranties made. The Depositary shall provide to the Company, upon on its
written request, as promptly as practicable, copies of such proofs of citizenship or residence or
other information referred to above that the Depositary receives, to the extent that disclosure is
permitted under applicable law.

     SECTION 3.02 Liability of Owner for Taxes.

          If any tax or other governmental charge shall become payable by the Custodian or the
Depositary with respect to any American Depositary Shares or any Deposited Securities represented
by any American Depositary Shares, such tax or other governmental charge shall be payable by the
Owner of such American Depositary Shares to the Depositary. The Depositary may refuse to register
any transfer of those American Depositary Shares or any withdrawal of Deposited Securities
represented by those American Depositary Shares until such payment is made, and may withhold any
dividends or other distributions, or may sell for the account of the Owner thereof any part or all
of the Deposited Securities represented by those American Depositary Shares, and may apply such
dividends or other distributions or the proceeds of any such sale in payment of such tax or other
governmental charge and the Owner of such American Depositary Shares shall remain liable for any
deficiency.

     SECTION 3.03 Warranties on Deposit of Shares.

          Every person depositing Shares under this Deposit Agreement shall be deemed thereby to
represent and warrant that such Shares and each certificate therefor, if applicable, are validly
issued, fully paid, nonassessable and free of any preemptive rights of the holders of outstanding
Shares and that the person making such deposit is duly authorized so to do. Every such person
shall also be deemed to represent that the deposit of such Shares and the sale of American
Depositary Shares representing such Shares by that person are not restricted under the Securities
Act of 1933. Such representations and warranties shall survive the deposit of Shares and delivery
of American Depositary Shares.

ARTICLE 4. THE DEPOSITED SECURITIES

     SECTION 4.01 Cash Distributions.

          Whenever the Depositary shall receive any cash dividend or other cash distribution on any
Deposited Securities, the Depositary shall, subject to the provisions of Section 4.05, convert such
dividend or distribution into Dollars and shall distribute the amount thus received (net of the
fees and expenses of the Depositary as provided in Section 5.09, unless those fees and expenses
have been paid by the Company) to the

- 13 -

 

Owners entitled thereto, in proportion to the number of American Depositary Shares
representing such Deposited Securities held by them respectively; provided,
however, that in the event that the Custodian or the Depositary shall be required to
withhold and does withhold from such cash dividend or such other cash distribution an amount on
account of taxes or other governmental charges, the amount distributed to the Owner of the American
Depositary Shares representing such Deposited Securities shall be reduced accordingly. The
Depositary shall distribute only such amount, however, as can be distributed without attributing to
any Owner a fraction of one cent. Any such fractional amounts shall be rounded to the nearest
whole cent and so distributed to Owners entitled thereto. The Company or its agent will remit to
the appropriate governmental agency in Australia all amounts withheld and owing to such agency.
The Depositary will forward to the Company or its agent such information from its records as the
Company may reasonably request to enable the Company or its agent to file necessary reports with
governmental agencies, and the Depositary or the Company or its agent may file any such reports
necessary to obtain benefits under the applicable tax treaties for the Owners. No distribution to
Owners pursuant to this Section 4.01 shall be unreasonably delayed by any action of the Depositary
or the Custodian.

     SECTION 4.02 Distributions Other Than Cash, Shares or Rights.

          Subject to the provisions of Sections 4.11 and 5.09, whenever the Depositary shall receive any
distribution other than a distribution described in Section 4.01, 4.03 or 4.04, the Depositary
shall cause the securities or property received by it to be distributed to the Owners entitled
thereto, after deduction or upon payment of any fees and expenses of the Depositary, unless those
fees and expenses have been paid by the Company, or any taxes or other governmental charges, in
proportion to the number of American Depositary Shares representing such Deposited Securities held
by them respectively, in any manner that the Depositary may reasonably deem equitable and
practicable for accomplishing such distribution; provided, however, that if in the
reasonable opinion of the Depositary such distribution cannot be made proportionately among the
Owners entitled thereto, or if for any other reason (including, but not limited to, any requirement
that the Company or the Depositary withhold an amount on account of taxes or other governmental
charges or that such securities must be registered under the Securities Act of 1933 in order to be
distributed to Owners or holders) the Depositary reasonably deems such distribution not to be
feasible, the Depositary may, after consultation with the Company to the extent practicable using
reasonable efforts, subject to applicable law and applicable rules of any securities exchange or
automated quotation system on which the relevant securities or American Depositary Shares are
listed or quoted, adopt such method as it may reasonably deem equitable and practicable for the
purpose of effecting such distribution, including, but not limited to, the public or private sale
of the securities or property thus received, or any part thereof, and the net proceeds of any such
sale (net of the fees and expenses of the Depositary as provided in Section 5.09, unless those fees
and expenses have been paid by the Company) shall be distributed by the Depositary to the Owners
entitled thereto, all in the manner and subject to the

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conditions described in Section 4.01. The Depositary may withhold any distribution of
securities under this Section 4.02 if it has not received reasonably satisfactory assurances from
the Company that the distribution does not require registration under the Securities Act of 1933.
Except where such fees and expenses have been paid by the Company, the Depositary may sell, by
public or private sale, subject to applicable law and applicable rules of any securities exchange
or automated quotation system on which the relevant securities or American Depositary Shares are
listed or quoted, an amount of securities or other property it would otherwise distribute under
this Section 4.02 that is sufficient to pay its fees and expenses in respect of that distribution.
No distribution to Owners pursuant to this Section 4.02 shall be unreasonably delayed by any action
of the Depositary or the Custodian.

     SECTION 4.03 Distributions in Shares.

          If any distribution upon any Deposited Securities consists of a dividend in, or free
distribution of, Shares, the Depositary may, and shall if the Company so requests in writing,
deliver to the Owners entitled thereto, in proportion to the number of American Depositary Shares
representing such Deposited Securities held by them respectively, an aggregate number of American
Depositary Shares representing the amount of Shares received as such dividend or free distribution,
subject to the terms and conditions of the Deposit Agreement with respect to the deposit of Shares
and after deduction or upon issuance of American Depositary Shares, including the withholding of
any tax or other governmental charge as provided in Section 4.11 and the payment of the fees and
expenses of the Depositary as provided in Section 5.09, unless those fees and expenses have been
paid by the Company (and, except where such fees and expenses have been paid by the Company, the
Depositary may sell, by public or private sale, subject to applicable law and applicable rules of
any securities exchange or automated quotation system on which the Shares or American Depositary
Shares are listed or quoted, an amount of the Shares received sufficient to pay its fees and
expenses in respect of that distribution). The Depositary may withhold any such delivery of
American Depositary Shares if it has not received reasonably satisfactory assurances from the
Company that such distribution does not require registration under the Securities Act of 1933. In
lieu of delivering fractional American Depositary Shares in any such case, the Depositary shall,
subject to applicable law and applicable rules of any securities exchange or automated quotation
system on which the Shares or American Depositary Shares are listed or quoted, sell the amount of
Shares represented by the aggregate of such fractions and distribute the net proceeds, all in the
manner and subject to the conditions described in Section 4.01. If additional American Depositary
Shares are not so delivered, each American Depositary Share shall thenceforth also represent the
additional Shares distributed upon the Deposited Securities represented thereby. No distribution
to Owners pursuant to this Section 4.03 shall be unreasonably delayed by any action of the
Depositary or the Custodian.

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     SECTION 4.04 Rights.

          In the event that the Company shall offer or cause to be offered to the holders of any
Deposited Securities any rights to subscribe for additional Shares or any rights of any other
nature, the Depositary, after consultation with and having given reasonable consideration to the
suggestions of the Company, and subject to applicable law and applicable rules of any securities
exchange or automated quotation system on which the Shares or American Depositary Shares are listed
or quoted, shall have discretion as to the procedure to be followed in making such rights available
to any Owners or in disposing of such rights on behalf of any Owners and making the net proceeds
available to such Owners or, if by the terms of such rights offering or for any other reason, the
Depositary may not either make such rights available to any Owners or dispose of such rights and
make the net proceeds available to such Owners, then the Depositary shall allow the rights to
lapse. If at the time of the offering of any rights the Depositary determines that it is lawful
and feasible to make such rights available to all or certain Owners but not to other Owners and the
Company so requests in writing, the Depositary shall distribute to any Owner to whom it determines
the distribution to be lawful and feasible, in proportion to the number of American Depositary
Shares held by such Owner, warrants or other instruments therefor in such form as it deems
appropriate, but only pursuant to a written agreement to be entered into between the Company and
the Depositary establishing the conditions and procedures that will be applicable to that
particular offering.

          In circumstances in which rights would otherwise not be distributed, if an Owner requests the
distribution of warrants or other instruments in order to exercise the rights allocable to the
American Depositary Shares of such Owner hereunder, the Depositary will make such rights available
to such Owner upon written notice from the Company to the Depositary that (a) the Company has
elected in its sole discretion to permit such rights to be exercised and (b) such Owner has
executed such documents as the Company has determined in its sole discretion are reasonably
required under applicable law.

          If the Depositary has distributed warrants or other instruments for rights to all or certain
Owners, then upon instruction from such an Owner pursuant to such warrants or other instruments to
the Depositary from such Owner to exercise such rights, upon payment by such Owner to the
Depositary for the account of such Owner of an amount equal to the purchase price of the Shares to
be received upon the exercise of the rights, and upon payment of the fees and expenses of the
Depositary and any other charges as set forth in such warrants or other instruments, the Depositary
shall, on behalf of such Owner, exercise the rights and purchase the Shares, and the Company shall
cause the Shares so purchased to be delivered to the Depositary on behalf of such Owner. As agent
for such Owner, the Depositary will cause the Shares so purchased to be deposited pursuant to
Section 2.02 of this Deposit Agreement, and shall, pursuant to Section 2.03 of this Deposit
Agreement, deliver American Depositary Shares to such Owner. In the case

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of a distribution pursuant to the second paragraph of this Section, such deposit shall be
made, and depositary shares shall be delivered, under depositary arrangements which provide for
issuance of depositary shares subject to the appropriate restrictions on sale, deposit,
cancellation, and transfer under applicable United States laws.

          If the Depositary, after consultation with the Company to the extent practicable using
reasonable efforts, determines that it is not lawful and feasible to make such rights available to
all or certain Owners, it shall use reasonable efforts to sell the rights, warrants or other
instruments in proportion to the number of American Depositary Shares held by the Owners to whom it
has determined it may not lawfully or feasibly make such rights available, and allocate the net
proceeds of such sales (net of the fees and expenses of the Depositary as provided in Section 5.09,
unless those fees and expenses have been paid by the Company, and all taxes and governmental
charges payable in connection with such rights and subject to the terms and conditions of this
Deposit Agreement) for the account of such Owners otherwise entitled to such rights, warrants or
other instruments, upon an averaged or other commercially reasonable basis without regard to any
distinctions among such Owners because of exchange restrictions or the date of delivery of any
American Depositary Shares or otherwise.

          The Depositary will not offer rights to Owners unless both the rights and the securities to
which such rights relate are either exempt from registration under the Securities Act of 1933 with
respect to a distribution to all Owners or are registered under the provisions of such Act;
provided, that nothing in this Deposit Agreement shall create any obligation on the part of
the Company to file a registration statement with respect to such rights or underlying securities
or to endeavor to have such a registration statement declared effective. If an Owner requests the
distribution of warrants or other instruments, notwithstanding that there has been no such
registration under the Securities Act of 1933, the Depositary shall not effect such distribution
unless it has received an opinion from recognized counsel in the United States for the Company upon
which the Depositary may rely that such distribution to such Owner is exempt from such
registration.

          The Depositary shall not be responsible for any failure to determine that it may be lawful or
feasible to make such rights available to Owners in general or any Owner in particular.

     SECTION 4.05 Conversion of Foreign Currency.

          Whenever the Depositary or the Custodian shall receive foreign currency, by way of dividends
or other distributions or the net proceeds from the sale of securities, property or rights, and if
at the time of the receipt thereof the foreign currency so received can in the judgment of the
Depositary be converted on a reasonable basis into Dollars and the resulting Dollars transferred to
the United States, the Depositary shall convert or cause to be converted by sale or in any other
commercially reasonable manner that it may determine such foreign currency into Dollars, and such
Dollars shall be distributed to the Owners entitled thereto or, if the Depositary shall have
distributed any

- 17 -

 

warrants or other instruments which entitle the holders thereof to such Dollars, then to the
holders of such warrants and/or instruments upon surrender thereof for cancellation. Such
distribution may be made upon an averaged or other practicable basis without regard to any
distinctions among Owners on account of exchange restrictions, the date of delivery of any American
Depositary Shares or otherwise and shall be net of any expenses of conversion into Dollars incurred
by the Depositary as provided in Section 5.09, if applicable.

          If such conversion or distribution can be effected only with the approval or license of any
government or agency thereof, the Depositary shall as promptly as practicable file such application
for approval or license, if any, as it reasonably believes is obtainable without unreasonable
effort or expense.

          If at any time the Depositary shall determine that in its reasonable judgment any foreign
currency received by the Depositary or the Custodian is not convertible on a reasonable basis into
Dollars transferable to the United States, or if any approval or license of any government or
agency thereof which is required for such conversion is denied or in the reasonable opinion of the
Depositary is not obtainable, or if any such approval or license is not obtained within a
reasonable period as reasonably determined by the Depositary, the Depositary may distribute the
foreign currency (or an appropriate document evidencing the right to receive such foreign currency)
received by the Depositary to, or in its discretion may hold such foreign currency uninvested and
without liability for interest thereon for the respective accounts of, the Owners entitled to
receive the same, except that the Depositary shall continue to use commercially reasonable
efforts to effect a distribution of the funds to Owners pursuant to Section 4.01 and this Section
4.05.

          If any such conversion of foreign currency, in whole or in part, cannot be effected for
distribution to some of the Owners entitled thereto, the Depositary may in its discretion make such
conversion and distribution in Dollars to the extent permissible to the Owners entitled thereto and
may distribute the balance of the foreign currency received by the Depositary to, or hold such
balance uninvested and without liability for interest thereon for the respective accounts of, the
Owners entitled thereto, except that the Depositary shall continue to use commercially
reasonable efforts to effect a distribution of the funds to Owners pursuant to Section 4.01 and
this Section 4.05.

     SECTION 4.06 Fixing of Record Date.

          Whenever any cash dividend or other cash distribution shall become payable or any distribution
other than cash shall be made, or whenever rights shall be issued with respect to the Deposited
Securities, or whenever the Depositary shall receive notice of any meeting of holders of Shares or
other Deposited Securities, or whenever for any reason the Depositary causes a change in the number
of Shares that are represented by each American Depositary Share, or whenever the Depositary shall
find it necessary or convenient, the Depositary shall fix a record date (which shall be the same as
or as

- 18 -

 

near as practicable to any corresponding record date set by the Company) (a) for the
determination of the Owners who shall be (i) entitled to receive such dividend, distribution or
rights or the net proceeds of the sale thereof, (ii) entitled to give instructions for the exercise
of voting rights at any such meeting or (iii) subject to the terms hereof, responsible for any fee
or charge assessed by the Depositary pursuant to this Deposit Agreement, or (b) on or after which
each American Depositary Share will represent the changed number of Shares. Subject to the
provisions of Sections 4.01 through 4.05 and to the other terms and conditions of this Deposit
Agreement, the Owners on such record date shall be entitled, as the case may be, to receive the
amount distributable by the Depositary with respect to such dividend or other distribution or such
rights or the net proceeds of sale thereof in proportion to the number of American Depositary
Shares held by them respectively and to give voting instructions and to act in respect of any other
such matter.

     SECTION 4.07 Voting of Deposited Securities.

          Upon receipt of notice of any meeting of holders of Shares or other Deposited Securities, if
requested in writing by the Company, the Depositary shall, as soon as practicable thereafter, mail
to the Owners a notice, the form of which notice shall be agreed to by the Company and the
Depositary, which shall contain (a) such information as is contained in such notice of meeting
received by the Depositary from the Company, (b) a statement that the Owners as of the close of
business on a specified record date will be entitled, subject to any applicable provision of
Australian law and of the constitution or similar documents of the Company, to instruct the
Depositary as to the exercise of the voting rights, if any, pertaining to the amount of Shares or
other Deposited Securities represented by their respective American Depositary Shares and (c) a
statement as to the manner in which such instructions may be given, including an express indication
that, if the Depositary does not receive instructions, it may deem instructions to have been given
under the last sentence of this paragraph to give a discretionary proxy to a person designated by
the Company. Upon the written request of an Owner of American Depositary Receipts on that record
date, received on or before the date established by the Depositary for the purpose, the Depositary
shall endeavor, insofar as practicable using reasonable efforts, to vote or cause to be voted the
amount of Shares or other Deposited Securities represented by those American Depositary Shares in
accordance with the instructions set forth in that request. The Depositary shall not vote or
attempt to exercise the right to vote that attaches to Deposited Securities other than in
accordance with instructions received from Owners or deemed received under the following sentence.
If (i) the Company made a request to the Depositary as contemplated by the first sentence of this
Section 4.07 and complied with the following paragraph of this Section 4.07 and (ii) no
instructions are received by the Depositary from an Owner with respect to an amount of Deposited
Securities represented by American Depositary Shares of that Owner on or before the date
established by the Depositary for that purpose, the Depositary shall deem that Owner to have
instructed the Depositary to give, and the Depositary shall give, a discretionary proxy to a person
designated by the Company with

- 19 -

 

respect to that amount of Deposited Securities, except that such instruction shall not
be deemed to have been given and the Depositary shall not give a discretionary proxy with respect
to any matter as to which the Company informs the Depositary (and the Company agrees to provide
that information as promptly as practicable in writing, if applicable) that (w) the Company does
not wish to receive a discretionary proxy, (x) substantial opposition exists, (y) the matter
materially and adversely affects the rights of holders of Shares, or (z) a discretionary proxy may
not be given with respect to such matter under applicable law or applicable regulation of the
securities exchange or automated quotation system on which the Shares or the American Depositary
Shares are then listed or quoted.

          In order to give Owners a reasonable opportunity to instruct the Depositary as to the exercise
of voting rights relating to Deposited Securities, if the Company will request the Depositary to
act under the preceding paragraph, the Company shall give the Depositary notification of any such
meeting or solicitation at least 45 days prior to the meeting date and details concerning the
matters to be voted upon not less than 30 days prior to the meeting date.

          Upon the written request of an Owner of American Depositary Shares as of the record date set
by the Depositary with respect to a meeting of holders of Deposited Securities received on or
before the date established by the Depositary for that purpose, the Depositary shall endeavor to
cause the appointment (or, if the Deposited Securities are registered in the name of or held by its
Custodian or a nominee, the Depositary shall endeavor to procure that the Custodian or its nominee
shall cause the appointment), subject to the constitution of the Company and applicable law, of
that Owner as a proxy in respect of that meeting (including any adjournment of that meeting) to
attend and vote the number of Deposited Securities represented by those American Depositary Shares
evidenced by that Receipt.

     SECTION 4.08 Changes Affecting Deposited Securities.

          Upon any change in nominal value, change in par value, split-up, consolidation or any other
reclassification of Deposited Securities, or upon any recapitalization, reorganization, merger or
consolidation or sale of assets affecting the Company or to which it is a party, or upon the
redemption or cancellation by the Company of the Deposited Securities, any securities, cash or
property which shall be received by the Depositary or a Custodian in exchange for, in conversion
of, in lieu of or in respect of Deposited Securities, shall be treated as new Deposited Securities
under this Deposit Agreement, and American Depositary Shares shall thenceforth represent, in
addition to the existing Deposited Securities, the right to receive the new Deposited Securities so
received, unless additional American Depositary Shares are delivered pursuant to the following
sentence. In any such case the Depositary may, and shall if the Company so requests in writing,
deliver additional American Depositary Shares as in the case of a dividend in Shares, or call for
the surrender of outstanding Receipts to be exchanged for new Receipts specifically describing such
new Deposited Securities.

- 20 -

 

     SECTION 4.09 Reports.

          The Depositary shall make available for inspection by Owners at its Corporate Trust Office any
reports and communications, including any proxy solicitation material, received from the Company
which are both (a) received by the Depositary as the holder of the Deposited Securities and
(b) made generally available to the holders of such Deposited Securities by the Company. The
Depositary shall also, upon written request by the Company, send to the Owners copies of such
reports when furnished by the Company pursuant to Section 5.06. Any such reports and
communications, including any such proxy soliciting material, furnished to the Depositary by the
Company shall be furnished in English, to the extent such materials are required to be translated
into English pursuant to any regulations of the Commission.

     SECTION 4.10 Lists of Owners.

          Promptly upon request by the Company, the Depositary shall, at the expense of the Company,
furnish to it a list, as of a recent date, of the names, addresses and holdings of American
Depositary Shares by all persons in whose names American Depositary Shares are registered on the
books of the Depositary.

     SECTION 4.11 Withholding.

          In the event that the Depositary determines that any distribution in property (including
Shares and rights to subscribe therefor) is subject to any tax or other governmental charge which
the Depositary is obligated to withhold, the Depositary may by public or private sale dispose of
all or a portion of such property (including Shares and rights to subscribe therefor) in such
amounts and in such manner as the Depositary deems necessary and practicable to pay such taxes or
charges and the Depositary shall distribute the net proceeds of any such sale after deduction of
such taxes or charges to the Owners entitled thereto in proportion to the number of American
Depositary Shares held by them respectively.

ARTICLE 5. THE DEPOSITARY, THE CUSTODIANS AND THE COMPANY

     SECTION 5.01 Maintenance of Office and Transfer Books by the Depositary.

          Until termination of this Deposit Agreement in accordance with its terms, the Depositary shall
maintain in the Borough of Manhattan, The City of New York, facilities for the execution and
delivery, registration, registration of transfers and surrender of American Depositary Shares in
accordance with the provisions of this Deposit Agreement.

          The Depositary shall keep books, at its Corporate Trust Office, for the registration of
American Depositary Shares and transfers of American Depositary Shares

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which at all reasonable times shall be open for inspection by the Owners and the Company,
provided that such inspection by the Owners shall not be for the purpose of communicating with
Owners in the interest of a business or object other than the business of the Company or a matter
related to this Deposit Agreement or the American Depositary Shares.

The Depositary may, subject to applicable law and acceptable rules of any securities exchange
or automated quotation system on which the applicable American Depositary Shares are listed or
quoted, close the transfer books, at any time or from time to time, when deemed expedient by it in
connection with the performance of its duties hereunder or at the request of the Company.

If any American Depositary Shares are listed on one or more stock exchanges in the United
States, the Depositary shall act as Registrar or appoint a Registrar or one or more co-registrars
for registry of such American Depositary Shares in accordance with any requirements of such
exchange or exchanges.

     SECTION 5.02 Prevention or Delay in Performance by the Depositary or the Company.

          Neither the Depositary nor the Company nor any of their respective directors, employees,
agents or affiliates shall incur any liability to any Owner or Holder (i) if by reason of any
provision of any present or future law or regulation of the United States or any other country, or
of any governmental or regulatory authority or stock exchange, or by any court order, decree or
judgment, or by reason of any provision, present or future, of the constitution or similar document
of the Company, or by reason of any provision of any securities issued or distributed by the
Company, or any offering or distribution thereof, or by reason of any act of God or war or
terrorism or other circumstances beyond its control, the Depositary or the Company shall be
prevented, delayed or forbidden from, or be subject to any civil or criminal penalty on account of,
doing or performing any act or thing which by the terms of this Deposit Agreement or the Deposited
Securities it is provided shall be done or performed, (ii) by reason of any non-performance or
delay, caused as aforesaid, in the performance of any act or thing which by the terms of this
Deposit Agreement it is provided shall or may be done or performed, (iii) by reason of any exercise
of, or failure to exercise, any discretion provided for in this Deposit Agreement, (iv) for the
inability of any Owner or holder to benefit from any distribution, offering, right or other benefit
which is made available to holders of Deposited Securities but is not, under the terms of this
Deposit Agreement, made available to Owners or holders, or (v) for any special, consequential or
punitive damages for any breach of the terms of this Deposit Agreement. Where, by the terms of a
distribution pursuant to Section 4.01, 4.02 or 4.03, or an offering or distribution pursuant to
Section 4.04, or for any other reason as provided in the applicable Section, such distribution or
offering may not be made available to Owners, and the Depositary may not dispose of such
distribution or offering on behalf of such Owners and make the net

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proceeds available to such Owners, then the Depositary shall not make such distribution or
offering, and shall allow any rights, if applicable, to lapse.

     SECTION 5.03 Obligations of the Depositary, the Custodian and the Company.

          The Company assumes no obligation nor shall it be subject to any liability under this Deposit
Agreement to any Owner or Holder, except that the Company agrees to perform its obligations
specifically set forth in this Deposit Agreement without negligence or bad faith.

          The Depositary assumes no obligation nor shall it be subject to any liability under this
Deposit Agreement to any Owner or Holder (including, without limitation, liability with respect to
the validity or worth of the Deposited Securities), except that the Depositary agrees to perform
its obligations specifically set forth in this Deposit Agreement without negligence or bad faith.

          Neither the Depositary nor the Company shall be under any obligation to appear in, prosecute
or defend any action, suit or other proceeding in respect of any Deposited Securities or in respect
of the American Depositary Shares on behalf of any Owner or Holder or any other person.

          Neither the Depositary nor the Company shall be liable for any action or nonaction by it in
reliance upon the advice of or information from legal counsel, accountants, any person presenting
Shares for deposit, any Owner or any other person believed by it in good faith to be competent to
give such advice or information.

          The Depositary shall not be liable for any acts or omissions made by a successor depositary
whether in connection with a previous act or omission of the Depositary or in connection with any
matter arising wholly after the removal or resignation of the Depositary, provided that in
connection with the issue out of which such potential liability arises the Depositary performed its
obligations without negligence or bad faith while it acted as Depositary.

          The Depositary shall not be liable for the acts or omissions of any securities depository,
clearing agency or settlement system in connection with or arising out of book-entry settlement of
Deposited Securities or otherwise.

          The Depositary shall not be responsible for any failure to carry out any instructions to vote
any of the Deposited Securities, or for the manner in which any such vote is cast or the effect of
any such vote, provided that any such action or nonaction is in good faith.

          No disclaimer of liability under the Securities Act of 1933 is intended by any provision of
this Deposit Agreement.

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     SECTION 5.04 Resignation and Removal of the Depositary.

          The Depositary may at any time resign as Depositary hereunder by written notice of its
election so to do delivered to the Company, such resignation to take effect upon the appointment of
a successor depositary and its acceptance of such appointment as hereinafter provided.

          The Depositary may at any time be removed by the Company by 90 days prior written notice of
such removal, to become effective upon the later of (i) the 90th day after delivery of
the notice to the Depositary and (ii) the appointment of a successor depositary and its acceptance
of such appointment as hereinafter provided, except that the 90 day prior notice period
shall not apply if the Depositary has materially breached this Deposit Agreement and has failed to
remedy or cure that breach within a reasonable time after receiving a notice from the Company
specifying that breach and requiring that it be remedied or cured.

          In case at any time the Depositary acting hereunder shall resign or be removed, the Company
shall use its best efforts to appoint a successor depositary, which shall be a bank or trust
company having an office in the Borough of Manhattan, The City of New York. Every successor
depositary shall execute and deliver to its predecessor and to the Company an instrument in writing
accepting its appointment hereunder, and thereupon such successor depositary, without any further
act or deed, shall become fully vested with all the rights, powers, duties and obligations of its
predecessor; but such predecessor, nevertheless, upon payment of all sums due it and on the written
request of the Company shall execute and deliver an instrument transferring to such successor all
rights and powers of such predecessor hereunder, shall duly assign, transfer and deliver all right,
title and interest in the Deposited Securities to such successor and shall deliver to such
successor a list of the Owners of all outstanding Receipts. Any such successor depositary shall
promptly mail notice of its appointment to the Owners.

          Any corporation into or with which the Depositary may be merged or consolidated shall be the
successor of the Depositary without the execution or filing of any document or any further act.

     SECTION 5.05 The Custodians.

          The Custodian shall be subject at all times and in all respects to the directions of the
Depositary and shall be responsible solely to it. Any Custodian may resign and be discharged from
its duties hereunder by notice of such resignation delivered to the Depositary at least 30 days
prior to the date on which such resignation is to become effective. If upon such resignation there
shall be no Custodian acting hereunder, the Depositary shall, promptly after receiving such notice,
appoint a substitute custodian or custodians, each of which shall thereafter be a Custodian
hereunder. The Depositary in its discretion may appoint a substitute or additional custodian or
custodians, each of which shall thereafter be one of the Custodians hereunder. Upon demand of the

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Depositary any Custodian shall deliver such of the Deposited Securities held by it as are
requested of it to any other Custodian or such substitute or additional custodian or custodians.
Each such substitute or additional custodian shall deliver to the Depositary, forthwith upon its
appointment, an acceptance of such appointment satisfactory in form and substance to the
Depositary.

          Upon the appointment of any successor depositary hereunder, each Custodian then acting
hereunder shall forthwith become, without any further act or writing, the agent hereunder of such
successor depositary and the appointment of such successor depositary shall in no way impair the
authority of each Custodian hereunder; but the successor depositary so appointed shall,
nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all
such instruments as may be proper to give to such Custodian full and complete power and authority
as agent hereunder of such successor depositary.

     SECTION 5.06 Notices and Reports.

          On or before the first date on which the Company gives notice, by publication or otherwise, of
any meeting of holders of Shares or other Deposited Securities, or of any adjourned meeting of such
holders, or of the taking of any action in respect of any cash or other distributions or the
offering of any rights, the Company agrees to transmit to the Depositary and the Custodian a copy
of the notice thereof in the form given or to be given to holders of Shares or other Deposited
Securities.

          The Company will arrange for the translation into English, if not already in English, to the
extent required pursuant to any regulations of the Commission, and the prompt transmittal by the
Company to the Depositary and the Custodian of such notices and any other reports and
communications which are made generally available by the Company to holders of its Shares. If
requested in writing by the Company, the Depositary will arrange for the mailing, at the Company’s
expense, of copies of such notices, reports and communications to all Owners. The Company will
timely provide the Depositary with the quantity of such notices, reports, and communications, as
reasonably requested by the Depositary from time to time, in order for the Depositary to effect
such mailings.

     SECTION 5.07 Distribution of Additional Shares, Rights, etc.

          If the Company or any affiliate of the Company determines to make any issuance or distribution
of (1) additional Shares, (2) rights to subscribe for Shares, (3) securities convertible into
Shares, or (4) rights to subscribe for such securities (each a “Distribution”), the Company shall
notify the Depositary in writing in English as promptly as practicable and in any event before the
Distribution starts and, if requested in writing by the Depositary, the Company shall promptly
furnish to the Depositary a written opinion from U.S. counsel for the Company that is reasonably
satisfactory to the Depositary, stating whether or not the Distribution requires, or, if made in
the United

- 25 -

 

States, would require, registration under the Securities Act of 1933. If, in the opinion of
that counsel, the Distribution requires, or, if made in the United States, would require,
registration under the Securities Act of 1933, that counsel shall furnish to the Depositary a
written opinion as to whether or not there is a registration statement under the Securities Act of
1933 in effect that will cover that Distribution.

          The Company agrees with the Depositary that neither the Company nor any company controlled by,
controlling or under common control with the Company will at any time deposit any Shares, either
originally issued or previously issued and reacquired by the Company or any such affiliate, unless
a Registration Statement is in effect as to such Shares under the Securities Act of 1933 or the
Company delivers to the Depositary an opinion of United States counsel, reasonably satisfactory to
the Depositary, to the effect that, upon deposit, those Shares will be eligible for public resale
in the United States without further registration under the Securities Act of 1933.

     SECTION 5.08 Indemnification.

          The Company agrees to indemnify the Depositary, its directors, employees, agents and
affiliates and any Custodian against, and hold each of them harmless from, any liability or expense
(including, but not limited to any fees and expenses incurred in seeking, enforcing or collecting
such indemnity and the fees and reasonable expenses of counsel) which may arise out of or in
connection with (a) any registration with the Commission of American Depositary Shares or Deposited
Securities or the offer or sale thereof in the United States or (b) acts performed or omitted,
pursuant to the provisions of or in connection with this Deposit Agreement and of the Receipts, as
the same may be amended, modified or supplemented from time to time (i) by the Depositary or a
Custodian or their respective directors, employees, agents and affiliates, except for any liability
or expense arising out of the negligence or bad faith of either of them, or (ii) by the Company or
any of its directors, employees, agents and affiliates.

          The Depositary agrees to indemnify the Company, its directors, employees, agents and
affiliates and hold them harmless from any liability or expense which may arise out of acts
performed or omitted by the Depositary or its Custodian or their respective directors, employees,
agents and affiliates due to their negligence or bad faith.

          The obligations set forth in this Section 5.08 shall survive the termination of this Deposit
Agreement and the succession or substitution of any indemnified person.

          Any person seeking indemnification under this Section 5.08 shall notify the person from whom
indemnification is sought of the commencement of any indemnifiable action as promptly as
practicable after the person seeking indemnification becomes aware of such commencement, provided
that failure to make such notification shall not affect any person’s rights under this Section
5.08. Any person seeking indemnification under this Section 5.08 shall consult with the person
from whom

- 26 -

 

indemnification is sought as to the conduct of any defense of any indemnifiable action, which
defense shall be reasonable in the judgment of the person seeking indemnity. No compromise or
settlement of such proceeding may be affected by either party without the other party’s consent
unless (i) there is no finding or admission of any violation of law and no effect on any other
claims that may be made against such other party and (ii) the sole relief provided is monetary
damages that are paid in full by the party seeking settlement. Neither party shall have any
liability with respect to any compromise or settlement effected without its consent, which shall
not be unreasonably withheld.

     SECTION 5.09 Charges of Depositary.

          The Company agrees to pay the fees and out-of-pocket expenses of the Depositary and those of
any Registrar only in accordance with agreements in writing entered into between the Depositary and
the Company from time to time.

          The following charges shall be incurred by any party depositing or withdrawing Shares or by
any party surrendering American Depositary Shares or to whom American Depositary Shares are issued
(including, without limitation, issuance pursuant to a stock dividend or stock split declared by
the Company or an exchange of stock regarding the American Depositary Shares or Deposited
Securities or a delivery of American Depositary Shares pursuant to Section 4.03), or by Owners, as
applicable: (1) taxes and other governmental charges, (2) such registration fees as may from time
to time be in effect for the registration of transfers of Shares generally on the Share register of
the Company or Foreign Registrar and applicable to transfers of Shares to or from the name of the
Depositary or its nominee or the Custodian or its nominee on the making of deposits or withdrawals
hereunder, (3) such cable, telex and facsimile transmission expenses as are expressly provided in
this Deposit Agreement, (4) such expenses as are incurred by the Depositary in the conversion of
foreign currency pursuant to Section 4.05, (5) a fee of $5.00 or less per 100 American Depositary
Shares (or portion thereof) for the delivery of American Depositary Shares pursuant to Section
2.03, 4.03 or 4.04 and the surrender of American Depositary Shares pursuant to Section 2.05 or
6.02, (6) a fee of $.02 or less per American Depositary Share (or portion thereof) for any cash
distribution made pursuant to this Deposit Agreement, including, but not limited to Sections 4.01
through 4.04 hereof, (7) a fee for the distribution of securities pursuant to Section 4.02, such
fee being in an amount equal to the fee for the execution and delivery of American Depositary
Shares referred to above which would have been charged as a result of the deposit of such
securities (for purposes of this clause 7 treating all such securities as if they were Shares) but
which securities are instead distributed by the Depositary to Owners, (8) in addition to any fee
charged under clause 6, a fee of $.02 or less per American Depositary Share (or portion thereof)
per annum for depositary services, which will be payable as provided in clause 9 below, (9) any
other charges payable by the Depositary, any of the Depositary’s agents, including the Custodian,
or the agents of the Depositary’s agents in connection with the servicing of Shares or other
Deposited Securities (which charge shall be assessed against Owners as of the date or

- 27 -

 

dates set by the Depositary in accordance with Section 4.06 and shall be payable at the sole
discretion of the Depositary by billing such Owners for such charge or by deducting such charge
from one or more cash dividends or other cash distributions).

          The Depositary, subject to Section 2.09 hereof, may own and deal in any class of securities of
the Company and its affiliates and in American Depositary Shares.

          Notwithstanding anything to the contrary herein, in lieu of the payments otherwise payable by
the Owners under this Deposit Agreement, the Company may, at its election, pay on behalf of the
Owners of American Depositary Shares any of the fees, expenses and charges that are payable by them
to the Depositary under this Deposit Agreement.

     SECTION 5.10 Retention of Depositary Documents.

          The Depositary is authorized to destroy those documents, records, bills and other data
compiled during the term of this Deposit Agreement at the times permitted by the laws or
regulations governing the Depositary unless the Company reasonably requests in writing that such
papers be retained for a longer period or turned over to the Company or to a successor depositary.

     SECTION 5.11 Exclusivity.

          Subject to Sections 5.04 and 6.02, the Company agrees not to appoint any other depositary for
issuance of American or global depositary shares or receipts so long as The Bank of New York is
acting as Depositary hereunder.

     SECTION 5.12 List of Restricted Securities Owners.

          From time to time, the Company shall provide to the Depositary a list setting forth, to the
actual knowledge of the Company, those persons or entities who beneficially own Restricted
Securities and the Company shall update that list on a regular basis. The Company agrees to advise
in writing each of the persons or entities so listed that such Restricted Securities are ineligible
for deposit hereunder. The Depositary may rely on such a list or update but shall not be liable
for any action or omission made pursuant to this Deposit Agreement in reliance thereon.

ARTICLE 6. AMENDMENT AND TERMINATION

     SECTION 6.01 Amendment.

          The form of the Receipts and any provisions of this Deposit Agreement may at any time and from
time to time be amended by agreement between the Company and the Depositary without the consent of
Owners or holders in any respect which they may deem necessary or desirable. Any amendment which
shall impose or increase any

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fees or charges (other than taxes and other governmental charges, registration fees, cable,
telex or facsimile transmission costs, delivery costs or other such expenses), or which shall
otherwise prejudice any substantial existing right of Owners, shall, however, not become effective
as to outstanding American Depositary Shares until the expiration of thirty days after notice of
such amendment shall have been given to the Owners of outstanding American Depositary Shares. Every
Owner and holder, at the time any amendment so becomes effective, shall be deemed, by continuing to
hold such American Depositary Shares or any interest therein, to consent and agree to such
amendment and to be bound by the Deposit Agreement as amended thereby. In no event shall any
amendment impair the right of the Owner to surrender American Depositary Shares and receive
therefor the Deposited Securities represented thereby, except in order to comply with mandatory
provisions of applicable law.

     SECTION 6.02 Termination.

          The Company may at any time terminate this Deposit Agreement by instructing the Depositary to
mail a notice of termination to the Owners of all American Depositary Shares then outstanding at
least 30 days prior to the termination date included in such notice. The Depositary may likewise
terminate this Deposit Agreement if at any time 90 days shall have expired after the Depositary
delivered to the Company a written resignation notice and if a successor depositary shall not have
been appointed and accepted its appointment as provided in Section 5.04; in such case the
Depositary shall mail a notice of termination to the Owners of all American Depositary Shares then
outstanding at least 30 days prior to the termination date. On and after the date of termination,
the Owner of American Depositary Shares will, upon (a) surrender of such American Depositary
Shares, (b) payment of the fee of the Depositary for the surrender of American Depositary Shares
referred to in Section 2.05, and (c) payment of any applicable taxes or governmental charges, be
entitled to delivery, to him or upon his order, of the amount of Deposited Securities represented
by those American Depositary Shares. If any American Depositary Shares shall remain outstanding
after the date of termination, the Depositary thereafter shall discontinue the registration of
transfers of American Depositary Shares, shall suspend the distribution of dividends to the Owners
thereof, and shall not give any further notices or perform any further acts under this Deposit
Agreement, except that the Depositary shall continue to collect dividends and other distributions
pertaining to Deposited Securities, shall sell rights and other property as provided in this
Deposit Agreement, and shall continue to deliver Deposited Securities, together with any dividends
or other distributions received with respect thereto and the net proceeds of the sale of any rights
or other property, upon surrender of American Depositary Shares (after deducting, in each case, the
fee of the Depositary for the surrender of American Depositary Shares, any expenses for the account
of the Owner of such American Depositary Shares in accordance with the terms and conditions of this
Deposit Agreement, and any applicable taxes or governmental charges).

- 29 -

 

          At any time after the expiration of four months from the date of termination, the Depositary
may sell the Deposited Securities then held under this Deposit Agreement and may thereafter hold
uninvested the net proceeds of any such sale, together with any other cash then held by it
hereunder, unsegregated and without liability for interest, for the pro rata benefit of the Owners
of American Depositary Shares that have not theretofore been surrendered, such Owners thereupon
becoming general creditors of the Depositary with respect to such net proceeds. After making such
sale, the Depositary shall be discharged from all obligations under this Deposit Agreement, except
to account for such net proceeds and other cash (after deducting, in each case, the fee of the
Depositary for the surrender of American Depositary Shares, any expenses for the account of the
Owner of such American Depositary Shares in accordance with the terms and conditions of this
Deposit Agreement, and any applicable taxes or governmental charges), and except for its
obligations under Section 5.08. Upon the termination of this Deposit Agreement, the Company shall
be discharged from all obligations under this Deposit Agreement except for its obligations to the
Depositary under Sections 5.08 and 5.09.

ARTICLE 7. MISCELLANEOUS

     SECTION 7.01 Counterparts.

          This Deposit Agreement may be executed in any number of counterparts, each of which shall be
deemed an original and all of such counterparts shall constitute one and the same instrument.
Copies of this Deposit Agreement shall be filed with the Depositary and the Custodians and shall be
open to inspection by any Owner or Holder during business hours.

     SECTION 7.02 No Third Party Beneficiaries.

          This Deposit Agreement is for the exclusive benefit of the parties hereto and shall not be
deemed to give any legal or equitable right, remedy or claim whatsoever to any other person.

     SECTION 7.03 Severability.

          In case any one or more of the provisions contained in this Deposit Agreement or in the
Receipts should be or become invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein or therein shall in no way
be affected, prejudiced or disturbed thereby.

     SECTION 7.04 Owners and Holders as Parties; Binding Effect.

          The Owners and Holders from time to time shall be parties to this Deposit Agreement and shall
be bound by all of the terms and conditions hereof and of the Receipts by acceptance of American
Depositary Shares or any interest therein.

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     SECTION 7.05 Notices.

          Any and all notices to be given to the Company shall be deemed to have been duly given if
personally delivered or sent by mail or cable, telex or facsimile transmission confirmed by letter,
addressed to Sims Group Limited, Simsmetal House, 41 McLaren Street, North Sydney, NSW 2060,
Australia, Attention: Frank Moratti, Facsimile No.: 612 9954 9680, or any other place to which the
Company may have transferred its principal office with notice to the Depositary.

          Any and all notices to be given to the Depositary shall be deemed to have been duly given if
in English and personally delivered or sent by mail or cable, telex or facsimile transmission
confirmed by letter, addressed to The Bank of New York, 101 Barclay Street, New York, New York
10286, Attention: American Depositary Receipt Administration, or any other place to which the
Depositary may have transferred its Corporate Trust Office with notice to the Company.

          Any and all notices to be given to any Owner shall be deemed to have been duly given if
personally delivered or sent by mail or cable, telex or facsimile transmission confirmed by letter,
addressed to such Owner at the address of such Owner as it appears on the transfer books for
American Depositary Shares of the Depositary, or, if such Owner shall have filed with the
Depositary a written request that notices intended for such Owner be mailed to some other address,
at the address designated in such request.

          Delivery of a notice sent by mail or cable, telex or facsimile transmission shall be deemed to
be effected at the time when a duly addressed letter containing the same (or a confirmation thereof
in the case of a cable, telex or facsimile transmission) is deposited, postage prepaid, in a
post-office letter box. The Depositary or the Company may, however, act upon any cable, telex or
facsimile transmission received by it, notwithstanding that such cable, telex or facsimile
transmission shall not subsequently be confirmed by letter as aforesaid.

     SECTION 7.06 Submission to Jurisdiction; Appointment of Agent for Service of Process; Jury
Trial Waiver.

          The Company hereby (i) irrevocably designates and appoints CT Corporation System, 111 Eighth
Avenue, New York, New York 10011, in the State of New York, as the Company’s authorized agent upon
which process may be served in any suit or proceeding arising out of or relating to the Shares or
Deposited Securities, the American Depositary Shares, the Receipts or this Agreement, (ii) consents
and submits to the jurisdiction of any state or federal court in the State of New York in which any
such suit or proceeding may be instituted, and (iii) agrees that service of process upon said
authorized agent shall be deemed in every respect effective service of process upon the Company in
any such suit or proceeding. The Company agrees to deliver, upon the execution and delivery of
this Deposit Agreement, a written acceptance by such agent of

- 31 -

 

its appointment as such agent. The Company further agrees to take any and all action,
including the filing of any and all such documents and instruments, as may be necessary to continue
such designation and appointment in full force and effect for so long as any American Depositary
Shares or Receipts remain outstanding or this Agreement remains in force. In the event the Company
fails to continue such designation and appointment in full force and effect, the Company hereby
waives personal service of process upon it and consents that any such service of process may be
made by certified or registered mail, return receipt requested, directed to the Company at its
address last specified for notices hereunder, and service so made shall be deemed completed five
(5) days after the same shall have been so mailed.

          EACH PARTY TO THIS DEPOSIT AGREEMENT (INCLUDING, FOR AVOIDANCE OF DOUBT, EACH OWNER AND
HOLDER) HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING AGAINST THE COMPANY AND/OR THE
DEPOSITARY DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THE SHARES OR OTHER DEPOSITED
SECURITIES, THE AMERICAN DEPOSITARY SHARES OR THE RECEIPTS, THIS DEPOSIT AGREEMENT OR ANY
TRANSACTION CONTEMPLATED HEREIN OR THEREIN, OR THE BREACH HEREOF OR THEREOF, INCLUDING WITHOUT
LIMITATION ANY QUESTION REGARDING EXISTENCE, VALIDITY OR TERMINATION (WHETHER BASED ON CONTRACT,
TORT OR ANY OTHER THEORY).

     SECTION 7.07 Waiver of Immunities.

          To the extent that the Company or any of its properties, assets or revenues may have or may
hereafter become entitled to, or have attributed to it, any right of immunity, on the grounds of
sovereignty or otherwise, from any legal action, suit or proceeding, from the giving of any relief
in any respect thereof, from setoff or counterclaim, from the jurisdiction of any court, from
service of process, from attachment upon or prior to judgment, from attachment in aid of execution
or judgment, or from execution of judgment, or other legal process or proceeding for the giving of
any relief or for the enforcement of any judgment, in any jurisdiction in which proceedings may at
any time be commenced, with respect to its obligations, liabilities or any other matter under or
arising out of or in connection with the Shares or Deposited Securities, the American Depositary
Shares, the Receipts or this Agreement, the Company, to the fullest extent permitted by law, hereby
irrevocably and unconditionally waives, and agrees not to plead or claim, any such immunity and
consents to such relief and enforcement.

     SECTION 7.08 Governing Law.

          This Deposit Agreement and the Receipts shall be interpreted and all rights hereunder and
thereunder and provisions hereof and thereof shall be governed by

- 32 -

 

the laws of the State of New York, except with respect to its authorization and execution by
the Company, which shall be governed by the laws of Australia.

- 33 -

 

          IN WITNESS WHEREOF, SIMS GROUP LIMITED and THE BANK OF NEW YORK have duly executed this
Deposit Agreement as of the day and year first set forth above and all Owners and Holders shall
become parties hereto upon acceptance by them of American Depositary Shares or any interest
therein.

	 	 	 	 	 
	 	SIMS GROUP LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	THE BANK OF NEW YORK,

as Depositary

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

- 34 -

 

EXHIBIT A

AMERICAN DEPOSITARY SHARES

(Each American Depositary Share represents

one deposited Share)

THE BANK OF NEW YORK

AMERICAN DEPOSITARY RECEIPT

FOR ORDINARY SHARES OF

THE PAR VALUE OF A$0.50 EACH OF

SIMS GROUP LIMITED

(INCORPORATED UNDER THE LAWS OF AUSTRALIA)

          The Bank of New York, as depositary (hereinafter called the “Depositary”), hereby certifies
that                                                   , or registered assigns IS THE OWNER OF
                                        

AMERICAN DEPOSITARY SHARES

representing deposited ordinary shares (herein called “Shares”) of Sims Group Limited, a company
incorporated under the laws of Australia (herein called the “Company”). At the date hereof, each
American Depositary Share represents one Share deposited or subject to deposit under the Deposit
Agreement (as such term is hereinafter defined) at the principal Melbourne, Australia office of
Australia and New Zealand Banking Group, the principal, Melbourne, Australia office of National
Australia Bank and the principal Sydney, Australia office of Westpac Banking Corporation, as agent
of the Depositary for the purposes of this Deposit Agreement (herein called the “Custodian”). The
Depositary’s Corporate Trust Office is located at a different address than its principal executive
office. Its Corporate Trust Office is located at 101 Barclay Street, New York, N.Y. 10286, and its
principal executive office is located at One Wall Street, New York, N.Y. 10286.

THE DEPOSITARY’S CORPORATE TRUST OFFICE ADDRESS IS

101 BARCLAY STREET, NEW YORK, N.Y. 10286

A - 1

 

1. THE DEPOSIT AGREEMENT.

     This American Depositary Receipt is one of an issue (herein called “Receipts”), all issued and
to be issued upon the terms and conditions set forth in the Amended and Restated Deposit Agreement,
dated as of                , 2008 (herein called the “Deposit Agreement”), by and among the Company, the
Depositary, and all Owners and Holders from time to time of American Depositary Shares issued
thereunder, each of whom by accepting American Depositary Shares agrees to become a party thereto
and become bound by all the terms and conditions thereof. The Deposit Agreement sets forth the
rights of Owners and holders and the rights and duties of the Depositary in respect of the Shares
deposited thereunder and any and all other securities, property and cash from time to time received
in respect of such Shares and held thereunder (such Shares, securities, property, and cash are
herein called “Deposited Securities”). Copies of the Deposit Agreement are on file at the
Depositary’s Corporate Trust Office in New York City and at the office of the Custodian.

     The statements made on the face and reverse of this Receipt are summaries of certain
provisions of the Deposit Agreement and are qualified by and subject to the detailed provisions of
the Deposit Agreement, to which reference is hereby made. Capitalized terms defined in the Deposit
Agreement and not defined herein shall have the meanings set forth in the Deposit Agreement.

2. SURRENDER OF RECEIPTS AND WITHDRAWAL OF SHARES.

     Upon surrender at the Corporate Trust Office of the Depositary of American Depositary Shares,
and upon payment of the fee of the Depositary provided in this Receipt, and subject to the terms
and conditions of the Deposit Agreement, the Owner of those American Depositary Shares is entitled
to delivery, without unreasonable delay, to him or as instructed, of the amount of Deposited
Securities at the time represented by those American Depositary Shares. Delivery of such Deposited
Securities may be made by the delivery of (a) certificates or account transfer in the name of the
Owner hereof or as ordered by him, with proper endorsement or accompanied by proper instruments or
instructions of transfer and (b) any other securities, property and cash to which such Owner is
then entitled in respect of this Receipt. Such delivery will be made at the option of the Owner
hereof, either at the office of the Custodian or at the Corporate Trust Office of the Depositary,
provided that the forwarding of certificates for Shares or other Deposited Securities for such
delivery at the Corporate Trust Office of the Depositary shall be at the risk and expense of the
Owner hereof.

3. TRANSFERS, SPLIT-UPS, AND COMBINATIONS OF RECEIPTS.

     Transfers of American Depositary Shares may be registered on the books of the Depositary by
the Owner in person or by a duly authorized attorney, upon surrender of those American Depositary
Shares properly endorsed for transfer or accompanied by proper instruments of transfer, in the case
of a Receipt, or pursuant to a proper instruction

A - 2

 

(including, for the avoidance of doubt, instructions through DRS and Profile as provided in
Section 2.10 of the Deposit Agreement), in the case of uncertificated American Depositary Shares,
and funds sufficient to pay any applicable transfer taxes and the expenses of the Depositary and
upon compliance with such regulations, if any, as the Depositary may establish for such purpose.
This Receipt may be split into other such Receipts, or may be combined with other such Receipts
into one Receipt, evidencing the same aggregate number of American Depositary Shares as the Receipt
or Receipts surrendered. The Depositary, upon surrender of certificated American Depositary Shares
for the purpose of exchanging for uncertificated American Depositary Shares, shall cancel those
certificated American Depositary Shares and send the Owner a statement confirming that the Owner is
the Owner of uncertificated American Depositary Shares. The Depositary, upon receipt of a proper
instruction (including, for the avoidance of doubt, instructions through DRS and Profile as
provided in Section 2.10 of the Deposit Agreement) from the Owner of uncertificated American
Depositary Shares for the purpose of exchanging for certificated American Depositary Shares, shall
cancel those uncertificated American Depositary Shares and deliver to the Owner the same number of
certificated American Depositary Shares. As a condition precedent to the delivery, registration of
transfer, or surrender of any American Depositary Shares or split-up or combination of any Receipt
or withdrawal of any Deposited Securities, the Depositary, the Custodian, or Registrar may require
payment from the depositor of the Shares or the presenter of the Receipt or instruction for
registration of transfer or surrender of American Depositary Shares not evidenced by a Receipt of a
sum sufficient to reimburse it for any tax or other governmental charge and any stock transfer or
registration fee with respect thereto (including any such tax or charge and fee with respect to
Shares being deposited or withdrawn) and payment of any applicable fees as provided in the Deposit
Agreement, may require the production of proof reasonably satisfactory to it as to the identity and
genuineness of any signature and may also require compliance with any regulations the Depositary
may establish consistent with the provisions of the Deposit Agreement.

     The delivery of American Depositary Shares against deposit of Shares generally or against
deposit of particular Shares may be suspended, or the transfer of American Depositary Shares in
particular instances may be refused, or the registration of transfer of outstanding American
Depositary Shares generally may be suspended, during any period when the transfer books of the
Depositary are closed, or if any such action is deemed necessary or advisable by the Depositary or
the Company at any time or from time to time because of any requirement of law or of any government
or governmental body or commission, or under any provision of the Deposit Agreement, subject to the
provisions of the following sentence. Notwithstanding anything to the contrary in the Deposit
Agreement or this Receipt, the surrender of outstanding American Depositary Shares and withdrawal
of Deposited Securities may only be suspended for (i) temporary delays caused by closing the
transfer books of the Depositary or the Company or the Foreign Registrar, if applicable, or the
deposit of Shares in connection with voting at a shareholders’ meeting, or the payment of
dividends, (ii) the payment of fees, taxes and

A - 3

 

similar charges, and (iii) compliance with any U.S. or foreign laws or governmental
regulations relating to the American Depositary Shares or to the withdrawal of the Deposited
Securities. Without limitation of the foregoing, the Depositary shall not knowingly accept for
deposit under the Deposit Agreement any Shares which would be required to be registered under the
provisions of the Securities Act of 1933, unless a registration statement is in effect as to such
Shares for such offer and sale.

4. LIABILITY OF OWNER FOR TAXES.

     If any tax or other governmental charge shall become payable with respect to any American
Depositary Shares or any Deposited Securities represented by any American Depositary Shares, such
tax or other governmental charge shall be payable by the Owner to the Depositary. The Depositary
may refuse to register any transfer of those American Depositary Shares or any withdrawal of
Deposited Securities represented by those American Depositary Shares until such payment is made,
and may withhold any dividends or other distributions, or may sell for the account of the Owner any
part or all of the Deposited Securities represented by those American Depositary Shares, and may
apply such dividends or other distributions or the proceeds of any such sale in payment of such tax
or other governmental charge and the Owner shall remain liable for any deficiency.

5. WARRANTIES ON DEPOSIT OF SHARES.

     Every person depositing Shares under the Deposit Agreement shall be deemed thereby to
represent and warrant, that such Shares and each certificate therefor, if applicable, are validly
issued, fully paid, nonassessable and free of any preemptive rights of the holders of outstanding
Shares and that the person making such deposit is duly authorized so to do. Every such person
shall also be deemed to represent that the deposit of such Shares and the sale of American
Depositary Shares representing such Shares by that person are not restricted under the Securities
Act of 1933. Such representations and warranties shall survive the deposit of Shares and delivery
of American Depositary Shares.

6. FILING PROOFS, CERTIFICATES, AND OTHER INFORMATION.

     Any person presenting Shares for deposit or any Owner or holder may be required from time to
time to file with the Depositary or the Custodian such proof of citizenship or residence, exchange
control approval, or such information relating to the registration on the books of the Company or
the Foreign Registrar, if applicable, to execute such certificates and to make such representations
and warranties, as the Depositary may reasonably deem necessary or proper. The Depositary may
withhold the delivery or registration of transfer of any American Depositary Shares or the
distribution of any dividend or sale or distribution of rights or of the proceeds thereof or the
delivery of any Deposited Securities until such proof or other information is filed or such
certificates are executed or such representations and warranties made. The Depositary

A - 4

 

shall provide to the Company, upon on its written request, as promptly as practicable, copies
of such proofs of citizenship or residence or other information referred to above that the
Depositary receives, to the extent that disclosure is permitted under applicable law.

     No Share shall be accepted for deposit unless accompanied by evidence reasonably satisfactory
to the Depositary that any necessary approval has been granted, that such deposit is not prohibited
by, any governmental body in Australia that is then performing the function of the regulation of
currency exchange.

7. CHARGES OF DEPOSITARY.

     The following charges shall be incurred by any party depositing or withdrawing Shares or by
any party surrendering American Depositary Shares or to whom American Depositary Shares are issued
(including, without limitation, issuance pursuant to a stock dividend or stock split declared by
the Company or an exchange of stock regarding the American Depositary Shares or Deposited
Securities or a delivery of American Depositary Shares pursuant to Section 4.03 of the Deposit
Agreement), or by Owners, as applicable: (1) taxes and other governmental charges, (2) such
registration fees as may from time to time be in effect for the registration of transfers of Shares
generally on the Share register of the Company or Foreign Registrar and applicable to transfers of
Shares to or from the name of the Depositary or its nominee or the Custodian or its nominee on the
making of deposits or withdrawals under the terms of the Deposit Agreement, (3) such cable, telex
and facsimile transmission expenses as are expressly provided in the Deposit Agreement, (4) such
expenses as are incurred by the Depositary in the conversion of foreign currency pursuant to
Section 4.05 of the Deposit Agreement, (5) a fee of $5.00 or less per 100 American Depositary
Shares (or portion thereof) for the delivery of American Depositary Shares pursuant to Section
2.03, 4.03 or 4.04 of the Deposit Agreement and the surrender of American Depositary Shares
pursuant to Section 2.05 or 6.02 of the Deposit Agreement, (6) a fee of $.02 or less per American
Depositary Share (or portion thereof) for any cash distribution made pursuant to the Deposit
Agreement, including, but not limited to Sections 4.01 through 4.04 of the Deposit Agreement, (7) a
fee for the distribution of securities pursuant to Section 4.02 of the Deposit Agreement, such fee
being in an amount equal to the fee for the execution and delivery of American Depositary Shares
referred to above which would have been charged as a result of the deposit of such securities (for
purposes of this clause 7 treating all such securities as if they were Shares) but which securities
are instead distributed by the Depositary to Owners, (8) in addition to any fee charged under
clause 6, a fee of $.02 or less per American Depositary Share (or portion thereof) per annum for
depositary services, which will be payable as provided in clause 9 below, (9) any other charges
payable by the Depositary, any of the Depositary’s agents, including the Custodian, or the agents
of the Depositary’s agents in connection with the servicing of Shares or other Deposited Securities
(which charge shall be assessed against Owners as of the date or dates set by the Depositary in
accordance with Section 4.06 of the Deposit Agreement

A - 5

 

and shall be payable at the sole discretion of the Depositary by billing such Owners for such
charge or by deducting such charge from one or more cash dividends or other cash distributions).

     The Depositary, subject to Article 8 hereof, may own and deal in any class of securities of
the Company and its affiliates and in American Depositary Shares.

     Notwithstanding anything to the contrary in the Deposit Agreement or herein, in lieu of the
payments otherwise payable by the Owners under the Deposit Agreement, the Company may, at its
election, pay on behalf of the Owners of American Depositary Shares any of the fees, expenses and
charges that are payable by them to the Depositary under the Deposit Agreement.

8. PRE-RELEASE OF AMERICAN DEPOSITARY SHARES.

     Notwithstanding Section 2.03 of the Deposit Agreement, the Depositary may deliver American
Depositary Shares prior to the receipt of Shares pursuant to Section 2.02 of the Deposit Agreement
(a “Pre-Release”). The Depositary may, pursuant to Section 2.05 of the Deposit Agreement, deliver
Shares upon the surrender of American Depositary Shares that have been Pre-Released, whether or not
such cancellation is prior to the termination of such Pre-Release or the Depositary knows that such
American Depositary Shares have been Pre-Released. The Depositary may receive American Depositary
Shares in lieu of Shares in satisfaction of a Pre-Release. Each Pre-Release will be
Notwithstanding Section 2.03 of the Deposit Agreement, the Depositary may deliver American
Depositary Shares prior to the receipt of Shares pursuant to Section 2.02 of the Deposit Agreement
(a “Pre-Release”). The Depositary may, pursuant to Section 2.05 of the Deposit Agreement, deliver
Shares upon the surrender of American Depositary Shares that have been Pre-Released, whether or not
such cancellation is prior to the termination of such Pre-Release or the Depositary knows that such
American Depositary Shares have been Pre-Released. The Depositary may receive American Depositary
Shares in lieu of Shares in satisfaction of a Pre-Release. Each Pre-Release will be (a) preceded
or accompanied by a written representation and agreement from the person to whom American
Depositary Shares are to be delivered (the “Pre-Releasee”) that the Pre-Releasee, or its customer,
(i) owns the Shares or American Depositary Shares to be remitted, as the case may be, (ii) assigns
all beneficial right, title and interest in such Shares or American Depositary Shares, as the case
may be, to the Depositary in its capacity as such and for the benefit of the Owners, and (iii) will
not take any action with respect to such Shares or American Depositary Shares, as the case may be,
that is inconsistent with the transfer of beneficial ownership (including, without the consent of
the Depositary, disposing of such Shares or American Depositary Shares, as the case may be, other
than in satisfaction of such Pre-Release), (b) at all times fully collateralized with cash, U.S.
government securities or such other collateral as the Depositary determines, in good faith, will
provide substantially similar liquidity and security, (c) terminable by the Depositary on not more
than five (5) business days’ notice, and (d) subject to such further

A - 6

 

indemnities and credit regulations as the Depositary reasonably deems appropriate. The number
of Shares not deposited but represented by American Depositary Shares outstanding at any time as a
result of Pre-Releases will not normally exceed thirty percent (30%) of the Shares deposited under
the Deposit Agreement; provided, however, that the Depositary reserves the right to disregard such
limit from time to time as it deems reasonably appropriate, and may, with the prior written consent
of the Company, change such limit for purposes of general application. The Depositary will also
set dollar limits with respect to Pre-Release transactions to be entered into hereunder with any
particular Pre-Releasee on a case-by-case basis as the Depositary deems appropriate. For purposes
of enabling the Depositary to fulfill its obligations to the Owners under the Deposit Agreement,
the collateral referred to in clause (b) above shall be held by the Depositary as security for the
performance of the Pre-Releasee’s obligations to the Depositary in connection with a Pre-Release
transaction, including the Pre-Releasee’s obligation to deliver Shares or American Depositary
Shares upon termination of a Pre-Release transaction (and shall not, for the avoidance of doubt,
constitute Deposited Securities thereunder).

     The Depositary may retain for its own account any compensation received by it in connection
with the foregoing.

9. TITLE TO RECEIPTS.

     It is a condition of this Receipt and every successive Owner and holder of this Receipt by
accepting or holding the same consents and agrees that when properly endorsed or accompanied by
proper instruments of transfer, shall be transferable as certificated registered securities under
the laws of New York. American Depositary Shares not evidenced by Receipts shall be transferable as
uncertificated registered securities under the laws of New York. The Depositary, notwithstanding
any notice to the contrary, may treat the Owner of American Depositary Shares as the absolute owner
thereof for the purpose of determining the person entitled to distribution of dividends or other
distributions or to any notice provided for in the Deposit Agreement and for all other purposes,
and neither the Depositary nor the Company shall have any obligation or be subject to any liability
under the Deposit Agreement to any Holder of American Depositary Shares unless that Holder is the
Owner of those American Depositary Shares.

10. VALIDITY OF RECEIPT.

     This Receipt shall not be entitled to any benefits under the Deposit Agreement or be valid or
obligatory for any purpose, unless this Receipt shall have been executed by the Depositary by the
manual signature of a duly authorized officer of the Depositary; provided, however
that such signature may be a facsimile if a Registrar for the Receipts shall have been appointed
and such Receipts are countersigned by the manual signature of a duly authorized signatory of the
Depositary or Registrar.

A - 7

 

11. REPORTS; INSPECTION OF TRANSFER BOOKS.

     [Upon effectiveness of a registration statement filed by the Company with the Commission under
the Securities Exchange Act of 1934, ]the Company [will be] subject to the periodic reporting
requirements of the Securities Exchange Act of 1934 and, accordingly, will be obligated to file
certain reports with the Commission. Such reports will be available for inspection and copying at
the public reference facilities maintained by the Commission located at 100 F Street, N.E.,
Washington, D.C. 20549.

     The Depositary will make available for inspection by Owners at its Corporate Trust Office any
reports, notices and other communications, including any proxy soliciting material, received from
the Company which are both (a) received by the Depositary as the holder of the Deposited Securities
and (b) made generally available to the holders of such Deposited Securities by the Company. The
Depositary will also, upon written request by the Company, send to Owners copies of such reports
when furnished by the Company pursuant to the Deposit Agreement. Any such reports and
communications, including any such proxy soliciting material, furnished to the Depositary by the
Company shall be furnished in English, to the extent such materials are required to be translated
into English pursuant to any regulations of the Commission.

     The Depositary will keep books, at its Corporate Trust Office, for the registration of
American Depositary Shares and transfers of American Depositary Shares which at all reasonable
times shall be open for inspection by the Owners and the Company, provided that such inspection by
the Owners shall not be for the purpose of communicating with Owners in the interest of a business
or object other than the business of the Company or a matter related to the Deposit Agreement or
the American Depositary Shares.

12. DIVIDENDS AND DISTRIBUTIONS.

     Whenever the Depositary receives any cash dividend or other cash distribution on any Deposited
Securities, the Depositary will, if at the time of receipt thereof any amounts received in a
foreign currency can in the judgment of the Depositary be converted on a reasonable basis into
Dollars transferable to the United States, and subject to the Deposit Agreement, convert such
dividend or distribution into dollars and will distribute the amount thus received (net of the fees
and expenses of the Depositary as provided in Article 7 hereof and Section 5.09 of the Deposit
Agreement, unless those fees and expenses have been paid by the Company) to the Owners entitled
thereto; provided, however, that in the event that the Company or the Depositary is
required to withhold and does withhold from any cash dividend or other cash distribution in respect
of any Deposited Securities an amount on account of taxes or other governmental charges, the amount
distributed to the Owners of the American Depositary Shares representing such Deposited Securities
shall be reduced accordingly.

     Subject to the provisions of Section 4.11 and 5.09 of the Deposit Agreement, whenever the
Depositary receives any distribution other than a distribution described in

A - 8

 

Section 4.01, 4.03 or 4.04 of the Deposit Agreement, the Depositary will cause the securities
or property received by it to be distributed to the Owners entitled thereto, in any manner that the
Depositary may reasonably deem equitable and practicable for accomplishing such distribution;
provided, however, that if in the reasonable opinion of the Depositary such
distribution cannot be made proportionately among the Owners of Receipts entitled thereto, or if
for any other reason the Depositary reasonably deems such distribution not to be feasible, the
Depositary may, after consultation with the Company to the extent practicable using reasonable
efforts, subject to applicable law and applicable rules of any securities exchange or automated
quotation system on which the relevant securities or American Depositary Shares are listed or
quoted, adopt such method as it may reasonably deem equitable and practicable for the purpose of
effecting such distribution, including, but not limited to, the public or private sale of the
securities or property thus received, or any part thereof, and the net proceeds of any such sale
(net of the fees and expenses of the Depositary as provided in Article 7 hereof and Section 5.09 of
the Deposit Agreement, unless those fees have been paid by the Company) will be distributed by the
Depositary to the Owners of Receipts entitled thereto all in the manner and subject to the
conditions described in Section 4.01 of the Deposit Agreement. The Depositary may withhold any
distribution of securities under Section 4.02 of the Deposit Agreement if it has not received
reasonably satisfactory assurances from the Company that the distribution does not require
registration under the Securities Act of 1933. Except where such fees and expenses have been paid
by the Company, the Depositary may sell, by public or private sale, subject to applicable law and
applicable rules of any securities exchange or automated quotation system on which the relevant
securities or American Depositary Shares are listed or quoted, an amount of securities or other
property it would otherwise distribute under this Article that is sufficient to pay its fees and
expenses in respect of that distribution. No distribution to Owners pursuant to Section 4.02 of
the Deposit Agreement shall be unreasonably delayed by any action of the Depositary or the
Custodian.

     If any distribution consists of a dividend in, or free distribution of, Shares, the Depositary
may, and shall if the Company so requests in writing, deliver to the Owners entitled thereto, an
aggregate number of American Depositary Shares representing the amount of Shares received as such
dividend or free distribution, subject to the terms and conditions of the Deposit Agreement with
respect to the deposit of Shares and after deduction or upon issuance of American Depositary
Shares, including the withholding of any tax or other governmental charge as provided in Section
4.11 of the Deposit Agreement and the payment of the fees and expenses of the Depositary as
provided in Article 7 hereof and Section 5.09 of the Deposit Agreement, unless those fees and
expenses have been paid by the Company (and, except where such fees and expenses have been paid by
the Company, the Depositary may sell, by public or private sale, subject to applicable law and
applicable rules of any securities exchange or automated quotation system on which the Shares or
American Depositary Shares are listed or quoted, an amount of Shares received sufficient to pay its
fees and expenses in respect of that distribution). In lieu of delivering fractional American
Depositary Shares in any

A - 9

 

such case, the Depositary will, subject to applicable law and applicable rules of any
securities exchange or automated quotation system on which the Shares or American Depositary Shares
are listed or quoted, sell the amount of Shares represented by the aggregate of such fractions and
distribute the net proceeds, all in the manner and subject to the conditions described in Section
4.01. If additional American Depositary Shares are not so delivered, each American Depositary
Share shall thenceforth also represent the additional Shares distributed upon the Deposited
Securities represented thereby. No distribution to Owners pursuant to Section 4.03 of the Deposit
Agreement shall be unreasonably delayed by any action of the Depositary or the Custodian.

     In the event that the Depositary determines that any distribution in property (including
Shares and rights to subscribe therefor) is subject to any tax or other governmental charge which
the Depositary is obligated to withhold, the Depositary may by public or private sale dispose of
all or a portion of such property (including Shares and rights to subscribe therefor) in such
amounts and in such manner as the Depositary deems necessary and practicable to pay such taxes or
charges, and the Depositary shall distribute the net proceeds of any such sale after deduction of
such taxes or charges to the Owners of Receipts entitled thereto in proportion to the number of
American Depositary Shares held by them respectively.

13. RIGHTS.

     In the event that the Company shall offer or cause to be offered to the holders of any
Deposited Securities any rights to subscribe for additional Shares or any rights of any other
nature, the Depositary, after consultation with and having given reasonable consideration to the
suggestions of the Company, and subject to applicable law and applicable rules of any securities
exchange or automated quotation system on which the Shares or American Depositary Shares are listed
or quoted, shall have discretion as to the procedure to be followed in making such rights available
to any Owners or in disposing of such rights on behalf of any Owners and making the net proceeds
available to such Owners or, if by the terms of such rights offering or for any other reason, the
Depositary may not either make such rights available to any Owners or dispose of such rights and
make the net proceeds available to such Owners, then the Depositary shall allow the rights to
lapse. If at the time of the offering of any rights the Depositary determines that it is lawful and
feasible to make such rights available to all or certain Owners but not to other Owners and the
Company so requests in writing, the Depositary shall distribute to any Owner to whom it determines
the distribution to be lawful and feasible, in proportion to the number of American Depositary
Shares held by such Owner, warrants or other instruments therefor in such form as it deems
appropriate, but only pursuant to a written agreement to be entered into between the Company and
the Depositary establishing the conditions and procedures that will be applicable to that
particular offering.

     In circumstances in which rights would otherwise not be distributed, if an Owner requests the
distribution of warrants or other instruments in order to exercise the rights

A - 10

 

allocable to the American Depositary Shares of such Owner under the Deposit Agreement, the
Depositary will make such rights available to such Owner upon written notice from the Company to
the Depositary that (a) the Company has elected in its sole discretion to permit such rights to be
exercised and (b) such Owner has executed such documents as the Company has determined in its sole
discretion are reasonably required under applicable law.

     If the Depositary has distributed warrants or other instruments for rights to all or certain
Owners, then upon instruction from such an Owner pursuant to such warrants or other instruments to
the Depositary from such Owner to exercise such rights, upon payment by such Owner to the
Depositary for the account of such Owner of an amount equal to the purchase price of the Shares to
be received upon the exercise of the rights, and upon payment of the fees and expenses of the
Depositary and any other charges as set forth in such warrants or other instruments, the Depositary
shall, on behalf of such Owner, exercise the rights and purchase the Shares, and the Company shall
cause the Shares so purchased to be delivered to the Depositary on behalf of such Owner. As agent
for such Owner, the Depositary will cause the Shares so purchased to be deposited pursuant to
Section 2.02 of the Deposit Agreement, and shall, pursuant to Section 2.03 of the Deposit
Agreement, deliver American Depositary Shares to such Owner. In the case of a distribution
pursuant to the second paragraph of this Article 13, such deposit shall be made, and depositary
shares shall be delivered, under depositary arrangements which provide for issuance of depositary
shares subject to the appropriate restrictions on sale, deposit, cancellation, and transfer under
applicable United States laws.

     If the Depositary determines, after consultation with the Company to the extent practicable
using reasonable efforts, that it is not lawful and feasible to make such rights available to all
or certain Owners, it shall use reasonable efforts to sell the rights, warrants or other
instruments in proportion to the number of American Depositary Shares held by the Owners to whom it
has determined it may not lawfully or feasibly make such rights available, and allocate the net
proceeds of such sales (net of the fees and expenses of the Depositary as provided in Section 5.09
of the Deposit Agreement, unless those fees and expenses have been paid by the Company, and all
taxes and governmental charges payable in connection with such rights and subject to the terms and
conditions of the Deposit Agreement) for the account of such Owners otherwise entitled to such
rights, warrants or other instruments, upon an averaged or other commercially reasonable basis
without regard to any distinctions among such Owners because of exchange restrictions or the date
of delivery of any American Depositary Shares or otherwise.

     The Depositary will not offer rights to Owners unless both the rights and the securities to which
such rights relate are either exempt from registration under the Securities Act of 1933 with
respect to a distribution to all Owners or are registered under the provisions of such Act;
provided, that nothing in the Deposit Agreement shall create any obligation on the part of the
Company to file a registration statement with respect to such rights or underlying securities or to
endeavor to have such a registration statement

A - 11

 

declared effective. If an Owner requests the distribution of warrants or other instruments,
notwithstanding that there has been no such registration under the Securities Act of 1933, the
Depositary shall not effect such distribution unless it has received an opinion from recognized
counsel in the United States for the Company upon which the Depositary may rely that such
distribution to such Owner is exempt from such registration.

          The Depositary shall not be responsible for any failure to determine that it may be lawful or
feasible to make such rights available to Owners in general or any Owner in particular.

			
	14.	 	CONVERSION OF FOREIGN CURRENCY.

          Whenever the Depositary or the Custodian shall receive foreign currency, by way of dividends
or other distributions or the net proceeds from the sale of securities, property or rights, and if
at the time of receipt thereof the foreign currency so received can in the judgment of the
Depositary be converted on a reasonable basis into Dollars and the resulting Dollars transferred to
the United States, the Depositary shall convert or cause to be converted by sale or in any other
commercially reasonable manner that it may determine, such foreign currency into Dollars, and such
Dollars shall be distributed to the Owners entitled thereto or, if the Depositary shall have
distributed any warrants or other instruments which entitle the holders thereof to such Dollars,
then to the holders of such warrants and/or instruments upon surrender thereof for cancellation.
Such distribution may be made upon an averaged or other practicable basis without regard to any
distinctions among Owners on account of exchange restrictions, the date of delivery of any American
Depositary Shares or otherwise and shall be net of any expenses of conversion into Dollars incurred
by the Depositary as provided in Section 5.09 of the Deposit Agreement, if applicable.

          If such conversion or distribution can be effected only with the approval or license of any
government or agency thereof, the Depositary shall as promptly as practicable file such application
for approval or license, if any, as it reasonably believes is obtainable without unreasonable
effort or expense.

          If at any time the Depositary shall determine that in its reasonable judgment any foreign
currency received by the Depositary or the Custodian is not convertible on a reasonable basis into
Dollars transferable to the United States, or if any approval or license of any government or
agency thereof which is required for such conversion is denied or in the reasonable opinion of the
Depositary is not obtainable, or if any such approval or license is not obtained within a
reasonable period as reasonably determined by the Depositary, the Depositary may distribute the
foreign currency (or an appropriate document evidencing the right to receive such foreign currency)
received by the Depositary to, or in its discretion may hold such foreign currency uninvested and
without liability for interest thereon for the respective accounts of, the Owners entitled to
receive the same, except that the Depositary shall continue to use commercially reasonable

A - 12

 

efforts to effect a distribution of the funds to Owners pursuant to Sections 4.01 and 4.05 of
the Deposit Agreement.

          If any such conversion of foreign currency, in whole or in part, cannot be effected for
distribution to some of the Owners entitled thereto, the Depositary may in its discretion make such
conversion and distribution in Dollars to the extent permissible to the Owners entitled thereto and
may distribute the balance of the foreign currency received by the Depositary to, or hold such
balance uninvested and without liability for interest thereon for the respective accounts of, the
Owners entitled thereto, except that the Depositary shall continue to use commercially
reasonable efforts to effect a distribution of the funds to Owners pursuant to Sections 4.01 and
4.05 of the Deposit Agreement.

			
	15.	 	RECORD DATES.

          Whenever any cash dividend or other cash distribution shall become payable or any distribution
other than cash shall be made, or whenever rights shall be issued with respect to the Deposited
Securities, or whenever the Depositary shall receive notice of any meeting of holders of Shares or
other Deposited Securities, or whenever for any reason the Depositary causes a change in the number
of Shares that are represented by each American Depositary Share, or whenever the Depositary shall
find it necessary or convenient, the Depositary shall fix a record date (which shall be the same as
or as near as practicable to any corresponding record date set by the Company) (a) for the
determination of the Owners who shall be (i) entitled to receive such dividend, distribution or
rights or the net proceeds of the sale thereof, (ii) entitled to give instructions for the exercise
of voting rights at any such meeting or (iii) subject to the terms of the Deposit Agreement,
responsible for any fee assessed by the Depositary pursuant to the Deposit Agreement, or (b) on or
after which each American Depositary Share will represent the changed number of Shares, subject to
the provisions of the Deposit Agreement.

			
	16.	 	VOTING OF DEPOSITED SECURITIES.

          Upon receipt of notice of any meeting of holders of Shares or other Deposited Securities, if
requested in writing by the Company, the Depositary shall, as soon as practicable thereafter, mail
to the Owners a notice, the form of which notice shall be agreed to by the Company and the
Depositary, which shall contain (a) such information as is contained in such notice of meeting
received by the Depositary from the Company, (b) a statement that the Owners as of the close of
business on a specified record date will be entitled, subject to any applicable provision of
Australian law and of the constitution or similar documents of the Company, to instruct the
Depositary as to the exercise of the voting rights, if any, pertaining to the amount of Shares or
other Deposited Securities represented by their respective American Depositary Shares and (c) a
statement as to the manner in which such instructions may be given, including an express indication
that, if the Depositary does not receive instructions, it may deem instructions to have been given
under the last sentence of this paragraph to give a discretionary proxy to a person

A - 13

 

designated by the Company. Upon the written request of an Owner of American Depositary Receipts on
that record date, received on or before the date established by the Depositary for the purpose, the
Depositary shall endeavor, insofar as practicable using reasonable efforts, to vote or cause to be
voted the amount of Shares or other Deposited Securities represented by those American Depositary
Shares in accordance with the instructions set forth in that request. The Depositary shall not
vote or attempt to exercise the right to vote that attaches to Deposited Securities other than in
accordance with instructions received from Owners or deemed received under the following sentence.
If (i) the Company made a request to the Depositary as contemplated by the first sentence of this
Section 4.07 of the Deposit Agreement and complied with the second paragraph of that Section 4.07
and (ii) no instructions are received by the Depositary from an Owner with respect to an amount of
Deposited Securities represented by American Depositary Shares of that Owner on or before the date
established by the Depositary for that purpose, the Depositary shall deem that Owner to have
instructed the Depositary to give, and the Depositary shall give, a discretionary proxy to a person
designated by the Company with respect to that amount of Deposited Securities, except that
such instruction shall not be deemed to have been given and the Depositary shall not give a
discretionary proxy with respect to any matter as to which the Company informs the Depositary (and
the Company agrees to provide that information as promptly as practicable in writing, if
applicable) that (w) the Company does not wish to receive a discretionary proxy, (x) substantial
opposition exists, (y) the matter materially and adversely affects the rights of holders of Shares,
or (z) a discretionary proxy may not be given with respect to such matter under applicable law or
applicable regulation of the securities exchange or automated quotation system on which the Shares
or the American Depositary Shares are then listed or quoted.

          In order to give Owners a reasonable opportunity to instruct the Depositary as to the exercise
of voting rights relating to Deposited Securities, if the Company will request the Depositary to
act under the preceding paragraph, the Company shall give the Depositary notification of any such
meeting or solicitation at least 45 days prior to the meeting date and details concerning the
matters to be voted upon not less than 30 days prior to the meeting date.

			
	17.	 	CHANGES AFFECTING DEPOSITED SECURITIES.

          Upon any change in nominal value, change in par value, split-up, consolidation, or any other
reclassification of Deposited Securities, or upon any recapitalization, reorganization, merger or
consolidation, or sale of assets affecting the Company or to which it is a party, or upon the
redemption or cancellation by the Company of the Deposited Securities, any securities, cash or
property which shall be received by the Depositary or a Custodian in exchange for, in conversion
of, in lieu of or in respect of Deposited Securities shall be treated as new Deposited Securities
under the Deposit Agreement, and American Depositary Shares shall thenceforth represent, in
addition to the existing Deposited Securities, the right to receive the new Deposited Securities so
received, unless additional Receipts are delivered pursuant to the following sentence. In

A - 14

 

any such case the Depositary may, and shall if the Company so requests in writing, deliver
additional American Depositary Shares as in the case of a dividend in Shares, or call for the
surrender of outstanding Receipts to be exchanged for new Receipts specifically describing such new
Deposited Securities.

			
	18.	 	LIABILITY OF THE COMPANY AND DEPOSITARY.

          Neither the Depositary nor the Company nor any of their respective directors, employees,
agents or affiliates shall incur any liability to any Owner or holder, (i) if by reason of any
provision of any present or future law or regulation of the United States or any other country, or
of any governmental or regulatory authority or stock exchange, or by any court order, decree or
judgment, or by reason of any provision, present or future, of the constitution or any similar
document of the Company, or by reason of any provision of any securities issued or distributed by
the Company, or any offering or distribution thereof, or by reason of any act of God or war or
terrorism or other circumstances beyond its control, the Depositary or the Company shall be
prevented, delayed or forbidden from or be subject to any civil or criminal penalty on account of
doing or performing any act or thing which by the terms of the Deposit Agreement or Deposited
Securities it is provided shall be done or performed, (ii) by reason of any non-performance or
delay, caused as aforesaid, in the performance of any act or thing which by the terms of the
Deposit Agreement it is provided shall or may be done or performed, (iii) by reason of any exercise
of, or failure to exercise, any discretion provided for in the Deposit Agreement, (iv) for the
inability of any Owner or holder to benefit from any distribution, offering, right or other benefit
which is made available to holders of Deposited Securities but is not, under the terms of the
Deposit Agreement, made available to Owners or holders, or (v) for any special, consequential or
punitive damages for any breach of the terms of the Deposit Agreement. Where, by the terms of a
distribution pursuant to Section 4.01, 4.02 or 4.03 of the Deposit Agreement, or an offering or
distribution pursuant to Section 4.04 of the Deposit Agreement, or for any other reason as provided
in the applicable Section of the Deposit Agreement, such distribution or offering may not be made
available to Owners, and the Depositary may not dispose of such distribution or offering on behalf
of such Owners and make the net proceeds available to such Owners, then the Depositary shall not
make such distribution or offering, and shall allow any rights, if applicable, to lapse. Neither
the Company nor the Depositary assumes any obligation or shall be subject to any liability under
the Deposit Agreement to Owners or holders, except that they agree to perform their obligations
specifically set forth in the Deposit Agreement without negligence or bad faith. The Depositary
shall not be subject to any liability with respect to the validity or worth of the Deposited
Securities. Neither the Depositary nor the Company shall be under any obligation to appear in,
prosecute or defend any action, suit, or other proceeding in respect of any Deposited Securities or
in respect of the American Depositary Shares, on behalf of any Owner or holder or other person.
Neither the Depositary nor the Company shall be liable for any action or nonaction by it in
reliance upon the advice of or information from legal counsel, accountants, any person presenting

A - 15

 

Shares for deposit, any Owner or holder, or any other person believed by it in good faith to be
competent to give such advice or information. The Depositary shall not be liable for any acts or
omissions made by a successor depositary whether in connection with a previous act or omission of
the Depositary or in connection with a matter arising wholly after the removal or resignation of
the Depositary, provided that in connection with the issue out of which such potential liability
arises, the Depositary performed its obligations without negligence or bad faith while it acted as
Depositary. The Depositary shall not be liable for the acts or omissions of any securities
depository, clearing agency or settlement system in connection with or arising out of book-entry
settlement of Deposited Securities or otherwise. The Depositary shall not be responsible for any
failure to carry out any instructions to vote any of the Deposited Securities or for the manner in
which any such vote is cast or the effect of any such vote, provided that any such action or
nonaction is in good faith.

          No disclaimer of liability under the Securities Act of 1933 is intended by any provision of
the Deposit Agreement.

			
	19.	 	RESIGNATION AND REMOVAL OF THE DEPOSITARY; APPOINTMENT OF SUCCESSOR CUSTODIAN.

          The Depositary may at any time resign as Depositary under the Deposit Agreement by written
notice of its election so to do delivered to the Company, such resignation to take effect upon the
earlier of (i) the appointment of a successor depositary and its acceptance of such appointment as
provided in the Deposit Agreement or (ii) termination by the Depositary pursuant to Section 6.02 of
the Deposit Agreement. The Depositary may at any time be removed by the Company by 90 days prior
written notice of such removal, to become effective upon the later of (i) the 90th day
after delivery of the notice to the Depositary and (ii) the appointment of a successor depositary
and its acceptance of such appointment as provided in the Deposit Agreement, except that
the 90 day prior notice period shall not apply if the Depositary has materially breached the
Deposit Agreement and has failed to remedy or cure that breach within a reasonable time after
receiving a notice from the Company specifying that breach and requiring that it be remedied or
cured. The Depositary in its discretion may appoint a substitute or additional custodian or
custodians, each of which shall thereafter be a Custodian hereunder and under the Deposit
Agreement.

			
	20.	 	AMENDMENT.

          The form of the Receipts and any provisions of the Deposit Agreement may at any time and from
time to time be amended by agreement between the Company and the Depositary without the consent of
Owners or holders in any respect which they may deem necessary or desirable. Any amendment which
shall impose or increase any fees or charges (other than taxes and other governmental charges,
registration fees, cable, telex or facsimile transmission costs, delivery costs or other such
expenses), or which shall otherwise prejudice any substantial existing right of Owners, shall,
however, not become

A - 16

 

effective as to outstanding American Depositary Shares until the expiration of thirty days
after notice of such amendment shall have been given to the Owners of outstanding American
Depositary Shares. Every Owner and holder of American Depositary Shares, at the time any amendment
so becomes effective, shall be deemed, by continuing to hold such American Depositary Shares or any
interest therein, to consent and agree to such amendment and to be bound by the Deposit Agreement
as amended thereby. In no event shall any amendment impair the right of the Owner to surrender
American Depositary Shares and receive therefor the Deposited Securities represented thereby,
except in order to comply with mandatory provisions of applicable law.

			
	21.	 	TERMINATION OF DEPOSIT AGREEMENT.

          The Company may terminate the Deposit Agreement by instructing the Depositary to mail notice
of termination to the Owners of all American Depositary Shares then outstanding at least 30 days
prior to the termination date included in such notice. The Depositary may likewise terminate the
Deposit Agreement, if at any time 90 days shall have expired after the Depositary delivered to the
Company a written resignation notice and if a successor depositary shall not have been appointed
and accepted its appointment as provided in the Deposit Agreement; in such case the Depositary
shall mail a notice of termination to the Owners of all American Depositary Shares then outstanding
at least 30 days prior to the termination date. On and after the date of termination, the Owner of
American Depositary Shares will, upon (a) surrender of such American Depositary Shares, (b) payment
of the fee of the Depositary for the surrender of American Depositary Shares referred to in Section
2.05, and (c) payment of any applicable taxes or governmental charges, be entitled to delivery, to
him or upon his order, of the amount of Deposited Securities represented by those American
Depositary Shares. If any American Depositary Shares shall remain outstanding after the date of
termination, the Depositary thereafter shall discontinue the registration of transfers of American
Depositary Shares, shall suspend the distribution of dividends to the Owners thereof, and shall not
give any further notices or perform any further acts under the Deposit Agreement, except that the
Depositary shall continue to collect dividends and other distributions pertaining to Deposited
Securities, shall sell rights and other property as provided in the Deposit Agreement, and shall
continue to deliver Deposited Securities, together with any dividends or other distributions
received with respect thereto and the net proceeds of the sale of any rights or other property,
upon surrender of American Depositary Shares (after deducting, in each case, the fee of the
Depositary for the surrender of American Depositary Shares, any expenses for the account of the
Owner of such American Depositary Shares in accordance with the terms and conditions of the Deposit
Agreement, and any applicable taxes or governmental charges). At any time after the expiration of
four months from the date of termination, the Depositary may sell the Deposited Securities then
held under the Deposit Agreement and may thereafter hold uninvested the net proceeds of any such
sale, together with any other cash then held by it thereunder, unsegregated and without liability
for interest, for the pro rata benefit of the Owners of American Depositary Shares that have not
theretofore been surrendered, such

A - 17

 

Owners thereupon becoming general creditors of the Depositary with respect to such net
proceeds. After making such sale, the Depositary shall be discharged from all obligations under the
Deposit Agreement, except to account for such net proceeds and other cash (after deducting, in each
case, the fee of the Depositary for the surrender of American Depositary Shares, any expenses for
the account of the Owner of such American Depositary Shares in accordance with the terms and
conditions of the Deposit Agreement, and any applicable taxes or governmental charges), and except
for its obligations under Section 5.08 of the Deposit Agreement. Upon the termination of the
Deposit Agreement, the Company shall be discharged from all obligations under the Deposit Agreement
except for its obligations to the Depositary with respect to indemnification, charges, and
expenses.

			
	22.	 	DTC DIRECT REGISTRATION SYSTEM AND PROFILE MODIFICATION SYSTEM.

          (a) Notwithstanding the provisions of Section 2.04 of the Deposit Agreement, the parties
acknowledge that the Direct Registration System (“DRS”) and Profile Modification System (“Profile”)
shall apply to uncertificated American Depositary Shares upon acceptance thereof to DRS by The
Depository Trust Company (“DTC”). DRS is the system administered by DTC pursuant to which the
Depositary may register the ownership of uncertificated American Depositary Shares, which ownership
shall be evidenced by periodic statements issued by the Depositary to the Owners entitled thereto.
Profile is a required feature of DRS which allows a DTC participant, claiming to act on behalf of
an Owner, to direct the Depositary to register a transfer of those American Depositary Shares to
DTC or its nominee and to deliver those American Depositary Shares to the DTC account of that DTC
participant without receipt by the Depositary of prior authorization from the Owner to register
such transfer.

          (b) In connection with and in accordance with the arrangements and procedures relating to
DRS/Profile, the parties understand that the Depositary will not verify, determine or otherwise
ascertain that the DTC participant which is claiming to be acting on behalf of an Owner in
requesting registration of transfer and delivery described in subsection (a) has the actual
authority to act on behalf of the Owner (notwithstanding any requirements under the Uniform
Commercial Code). For the avoidance of doubt, the provisions of Sections 5.03 and 5.08 of the
Deposit Agreement shall apply to the matters arising from the use of the DRS. The parties agree
that the Depositary’s reliance on and compliance with instructions received by the Depositary
through the DRS/Profile System and in accordance with the Deposit Agreement, shall not constitute
negligence or bad faith on the part of the Depositary.

			
	23.	 	SUBMISSION TO JURISDICTION; JURY TRIAL WAIVER; WAIVER OF IMMUNITIES.

          In the Deposit Agreement, the Company has (i) appointed CT Corporation System, 111 Eighth
Avenue, New York, New York 10011, in the State of New York, as

A - 18

 

the Company’s authorized agent upon which process may be served in any suit or proceeding
arising out of or relating to the Shares or Deposited Securities, the American Depositary Shares,
the Receipts or this Agreement, (ii) consented and submitted to the jurisdiction of any state or
federal court in the State of New York in which any such suit or proceeding may be instituted, and
(iii) agreed that service of process upon said authorized agent shall be deemed in every respect
effective service of process upon the Company in any such suit or proceeding.

          EACH PARTY TO THE DEPOSIT AGREEMENT (INCLUDING, FOR AVOIDANCE OF DOUBT, EACH OWNER AND HOLDER)
THEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING AGAINST THE COMPANY AND/OR THE DEPOSITARY
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THE SHARES OR OTHER DEPOSITED SECURITIES, THE
AMERICAN DEPOSITARY SHARES OR THE RECEIPTS, THE DEPOSIT AGREEMENT OR ANY TRANSACTION CONTEMPLATED
HEREIN OR THEREIN, OR THE BREACH HEREOF OR THEREOF, INCLUDING WITHOUT LIMITATION ANY QUESTION
REGARDING EXISTENCE, VALIDITY OR TERMINATION (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).

          To the extent that the Company or any of its properties, assets or revenues may have or
hereafter become entitled to, or have attributed to it, any right of immunity, on the grounds of
sovereignty or otherwise, from any legal action, suit or proceeding, from the giving of any relief
in any respect thereof, from setoff or counterclaim, from the jurisdiction of any court, from
service of process, from attachment upon or prior to judgment, from attachment in aid of execution
or judgment, or other legal process or proceeding for the giving of any relief or for the
enforcement of any judgment, in any jurisdiction in which proceedings may at any time be commenced,
with respect to its obligations, liabilities or any other matter under or arising out of or in
connection with the Shares or Deposited Securities, the American Depositary Shares, the Receipts or
the Deposit Agreement, the Company, to the fullest extent permitted by law, hereby irrevocably and
unconditionally waives, and agrees not to plead or claim, any such immunity and consents to such
relief and enforcement.

A - 19exv10w42

 

Exhibit 10.42

FAIR ISAAC CORPORATION

Terms and Conditions of Nonstatutory Stock Option Agreement

          These are the terms and conditions applicable to the NONSTATUTORY STOCK OPTION granted by Fair
Isaac Corporation, a Delaware corporation (“Fair Isaac”), to you, the optionee listed on the Notice
of Grant of Stock Option attached hereto as the cover page (the “Cover Page”), effective as of the
date specified on the Cover Page. The Cover Page together with these Terms and Conditions of
Nonstatutory Stock Option Agreement constitute the Nonstatutory Stock Option Agreement (the “Option
Agreement”). This Option is granted pursuant to the terms of Fair Isaac’s 1992 Long-term Incentive
Plan (the “Plan”).

	 	 	 
	Nonstatutory

	 	This Option is not intended to qualify as an incentive
stock option under Section 422 of the Internal Revenue
Code.
	Vesting

	 	Your Option vests and will be exercisable on the vesting
dates, as shown on the Cover Page. In addition, your
entire Option vests and will be exercisable in full in the
event that:
	 

	 	your service as an employee or director of Fair Isaac (or
any subsidiary) terminates because of your Disability or
death, or
	 

	 	any written employment agreement (other than a stock
option agreement) between you and Fair Isaac provides for
acceleration of this Option upon a change in control of
Fair Isaac or upon any other specified event or
combination of events.
	 

	 	No additional shares become exercisable after your
employment or service with Fair Isaac has terminated for
any reason; and all unvested options hereunder are
cancelled as of the last day of your employment or
service. Vested options may be exercised in the manner
and during the period of time set forth in this Option
Agreement.
	Exercise Period

	 	The right to purchase shares under this Option Agreement
terminates at 3:00 p.m. Pacific Time on the earliest of
	 

	 	the Expiration Date shown on the Cover Page; or
	 

	 	the 90th day after the termination date of your service as
an employee or director of Fair Isaac (or any subsidiary),
except if your termination results from Retirement,
Disability or death; or
	 

	 	the anniversary date of your Retirement as an employee or
director of Fair Isaac (or any subsidiary); or
	 

	 	the anniversary date of the commencement of your
Disability, if you become disabled while an employee or
director of Fair Isaac (or any subsidiary) or
	 

	 	the anniversary date of your death, if you die while an
employee or director of Fair Isaac (or any subsidiary).

 

 

	 	 	 
	Leaves
of
Absence

	 	For purposes of this Option, your service does not terminate
when you go on a military leave, a sick leave or another bona
fide leave of absence, if the leave was approved by Fair
Isaac in writing.
	 

	 	Unless you return to active work upon termination of your
approved leave, your service will be treated as terminating
on the later of 90 days after you went on leave or the date
that your right to return to active work is guaranteed by law
or by a contract. Fair Isaac will determine which leaves
count for this purpose.
	Restrictions
on Exercise

	 	You may not exercise this Option if the issuance of shares at
that time would violate any law or regulation, as determined
by Fair Isaac. Moreover, you cannot exercise this Option
unless you have accepted this Option in accordance with
procedures specified by Fair Isaac.
	Notice
of
Exercise

	 	If you do not exercise this Option through an automated
electronic exercise system approved by Fair Isaac, then you
must notify Fair Isaac in writing of your intent to exercise
this Option.
	 

	 	The notice must specify how many shares you wish to purchase
and must specify how your shares should be registered (i.e.,
in your name only, in your and your spouse’s names as
community property, or as joint tenants with right of
survivorship).
	 

	 	If someone else wants to exercise this Option after your
death, that person must prove to Fair Isaac’s satisfaction
that he or she is entitled to do so.
	Form
of Payment

	 	When you submit your notice, you must include payment of the
exercise price shown on the Cover Page for the shares you are
purchasing. Payment may be made in one (or a combination of
two or more) of the following forms, as approved by Fair
Isaac in its sole discretion:
	 

	 	Your personal check, a cashier’s check or a money order;
	 

	 	Irrevocable directions to a securities broker approved by
Fair Isaac to sell shares underlying this Option and to
deliver all or a portion of the sale proceeds to Fair Isaac
in payment of the exercise price and the balance of the sale
proceeds to you; or
	 

	 	Certificates for shares of Fair Isaac common stock that you
have owned for at least 12 months, along with any forms
needed to effect a transfer of those shares to Fair Isaac
with the value of the shares, determined as of the effective
date of the exercise of this Option, applied to the exercise
price.

 

 

	 	 	 
	Withholding
Taxes

	 	You will not be allowed to exercise this Option unless you
make acceptable arrangements to pay any withholding taxes
that may be due as a result of the exercise of this Option.
These arrangements must be satisfactory to Fair Isaac. Fair
Isaac may agree, in its sole discretion, to withhold shares
with a market value equal to the withholding taxes due from
the shares to be issued to you as a result of your exercise
of this Option.
	Restrictions
on Resale

	 	By accepting this Option in the manner prescribed by Fair
Isaac, you agree not to sell any shares at a time when
applicable laws or Fair Isaac policies prohibit a sale.
	Transfer
of
Option

	 	Prior to your death, only you or a permitted assignee as
defined herein may exercise this Option (unless this Option
or a portion thereof has been transferred to your former
spouse by a domestic relations order by a court of competent
jurisdiction). You may transfer this Option or a portion of
this Option by gift to members of your immediate family, a
partnership consisting solely of you and/or members of your
immediate family, or to a trust established for the benefit
of you and/or members of your immediate family (including a
charitable remainder trust whose income beneficiaries consist
solely of such persons). For purposes of the foregoing,
“immediate family” means your spouse, children or
grandchildren, including step-children or step-grandchildren.
Any of these persons is a “permitted assignee.” However, such
transfer shall not be effective until you have delivered to
Fair Isaac notice of such transfer. You cannot transfer,
pledge, hypothecate, assign or otherwise dispose of this
Option, including using this Option as security for a loan.
Any attempts to do any of these things contrary to the
provisions of this Option, and the levy of any attachment or
similar process upon this Option, shall be null and void. You
may, however, dispose of this Option in your will or by a
written beneficiary designation. Such a designation must be
filed with Fair Isaac on the proper form.
	Retention
Rights

	 	Neither your Option nor the terms of this Option Agreement
give you the right to continue as an employee or director of
Fair Isaac (or any subsidiaries) in any capacity. Fair Isaac
(and any subsidiaries) reserve the right to terminate your
service at any time, with or without cause, subject to the
terms of any written employment agreement signed by you and
Fair Isaac.

 

 

	 	 	 
	Stockholder
Rights

	 	You, or your assignees, estate, beneficiaries or heirs,
have no rights as a stockholder of Fair Isaac until the
options have been exercised, the exercise price has been
received by Fair Isaac, and upon becoming a holder of
record of the purchased shares. No adjustments are made
for dividends or other rights if the applicable record date
occurs before you become a holder of record, except as
described in the Plan.
	Adjustments

	 	In the event of any adjustments to the capital stock of
Fair Isaac as described in Article 10 of the Plan, the
number of shares covered by this Option and the exercise
price per share shall be adjusted as Fair Isaac may
determine pursuant to the Plan.
	Applicable Law

	 	This Option Agreement will be interpreted and enforced
under the laws of the State of Delaware (without regard to
its rules on choice of law).
	Other
Agreements

	 	This Option Agreement, the Plan and any written agreement
between you and Fair Isaac (or any subsidiaries) providing
for acceleration of options granted to you by Fair Isaac
upon a change in control of Fair Isaac constitute the
entire understanding between you and Fair Isaac regarding
this Option. Any other prior agreements, commitments or
negotiations concerning this Option are superseded. If
there is any inconsistency between the provisions of this
Option Agreement and the Plan, the provisions of the Plan
shall govern. This Option Agreement may be amended only in
writing.
	Definitions

	 	“Retirement” means the date that you are eligible for
normal retirement or early retirement, as defined as
follows:
	 

	 	“Normal Retirement Age” means age 65
	 

	 	“Early Retirement” means age 55 and completed 10 Years of
Service. One Year of Service is the completion of at least
1,000 hours of service during the year.
	 

	 	“Disability” means that you are unable to engage in any
substantial gainful activity by reason of a medically
determinable, physical or mental impairment which can be
expected to result in death or which has lasted (or can be
expected to last) for a continuous period of not less than
12 months.

By accepting this Option in the manner prescribed by Fair Isaac, you agree to all of the terms and
conditions described in this Option Agreement and in the Plan.

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