Page 191 - Hang Lung Group 2012 Annual Report

29 EMPLOYEE BENEFITS (Continued)
(a) Retirement benefits (Continued)
Staff in the Company’s subsidiaries operating in mainland China are
members of a retirement benefits scheme (the “Mainland RB Scheme”)
operated by the local municipal government in mainland China. The
only obligation of the subsidiaries in mainland China is to contribute
a certain percentage of their payroll to Mainland RB Scheme to fund
the retirement benefits. The local municipal government in mainland
China undertakes to assume the retirement benefits obligations of all
existing and future retired employees of subsidiaries in mainland China.
Total contributions made by subsidiaries in mainland China for the year
amounted to $27 million (P.E. 12/2011: $11 million).
(b) Equity compensation benefits
The Company
The share option scheme adopted by the Company on November 24,
2000 has expired. No further options shall be offered thereunder, but
in all other respects the provisions of the scheme shall remain in full
force and effect and all options granted prior to such expiration and not
exercised at the expiry date shall remain valid.
Under the scheme, the board of directors (the “Board”) of the Company
is authorized to grant options to selected participants, including
employees and directors of any company in the Group, to subscribe for
shares of the Company as incentives or rewards for their contributions
to the Group. The exercise price of the options is determined by the
Board at the time of grant, and shall be the highest of the nominal
value of the shares, the closing price of the shares at the date of
grant and the average closing price of the shares for the five business
days immediately preceding the date of grant. The period open for
acceptance of the option and amount payable thereon, the vesting
period, the exercisable period and the number of shares subject to
each option are determined by the Board at the time of grant.
29 僱員福利（續）
(a) 退休福利（續）
本公司在中國內地經營業務之附屬公司，
其僱員乃中國當地市政府所營辦之退休福
利計劃（「中國退休福利計劃」）之成員。該等
中國內地附屬公司所需承擔之唯一責任，
乃按僱員之支薪金額之某個百分比，向中
國退休福利計劃作出供款以作為退休福利
資金，而中國當地市政府則承擔該等中國
內地附屬公司之所有現職及將來退休之僱
員之退休福利責任。該等中國內地附屬公
司於年內作出之供款總額為二千七百萬元
（二零一一期間：一千一百萬元）。
(b) 股份補償福利
本公司
本公司於二零零零年十一月二十四日所採
納之股份期權計劃已屆滿。概無其他股份
期權據此予以授出，但計劃條款於所有其
他方面將會繼續有效及生效，且於屆滿前
所授出及於屆滿日期尚未獲行使之全部股
份期權將會繼續有效。
根據計劃，本公司董事局（「董事局」）獲授
權向經揀選人士（包括本集團內任何成員公
司之員工及董事）授出股份期權，作為彼等
對本集團貢獻之鼓勵或獎賞。股份期權行
使價由董事局於授予股份期權時釐定，並
必須為股份面值、於授予當日股份之收市
價及緊接授予前五個營業日之平均收市價
三者中之最高價。可接納期權之期間及其
應付之款項、歸屬期、行使期及每份期權
可認購股份之數目均由董事局於授出時予
以釐定。
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