Page 192 - Hang Lung Group 2012 Annual Report

29 EMPLOYEE BENEFITS (Continued)
(b) Equity compensation benefits (Continued)
Hang Lung Properties Limited
The share option scheme adopted by the Company’s subsidiary, HLP
on November 22, 2002 (the “Old Scheme”) was terminated upon
the adoption of a new share option scheme on April 18, 2012 (the
“New Scheme”, together with the Old Scheme are referred to as the
“Schemes”). No further options shall be offered under the Old Scheme,
but in all other respects the provisions of the Old Scheme shall remain
in full force and effect and all options granted prior to such termination
and not exercised at the date of termination shall remain valid. The New
Scheme remains in force for a period of 10 years commencing on its
adoption date and expiring on the tenth anniversary thereof.
The purposes of the Schemes are to enable HLP to grant options to
selected participants as incentives or rewards for their contributions to
HLP group, to attract skilled and experienced personnel, to incentivize
them to remain with HLP group and to motivate them to strive for the
future development and expansion of HLP group by providing them
with the opportunity to acquire equity interests in HLP.
Under the Schemes, the Board of HLP is authorized to grant options
to selected participants, including employees and directors of any
company in HLP group, subject to the terms and conditions such as
performance targets as the Board of HLP may specify on a case-by-
case basis or generally. The exercise price of the options is determined
by the Board of HLP at the time of grant, and shall be the highest of
the nominal value of HLP shares, the closing price of HLP shares at
the date of grant and the average closing price of HLP 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 HLP shares
subject to each option are determined by the Board of HLP at the time
of grant.
29 僱員福利（續）
(b) 股份補償福利（續）
恒隆地產有限公司
本公司附屬公司恒隆地產於二零零二年十
一月二十二日所採納之股份期權計劃（「舊
計劃」）已於二零一二年四月十八日採納新
股份期權計劃（「新計劃」，連同舊計劃統稱
為「計劃」）後予以終止。根據舊計劃，不得
進一步授出任何股份期權，惟舊計劃之條
文於所有其他方面將繼續具十足效力及作
用，且終止前授出及終止日期尚未獲行使
之所有股份期權將會繼續有效。新計劃將
會維持於其採納日起計十年內有效且將會
於其滿第十週年屆滿。
計劃旨在令恒隆地產可向經揀選參與者授
出股份期權，激勵或獎勵其為恒隆地產集
團所作貢獻，透過向其提供機會購買恒隆
地產之股權方式，以吸引具備專業技術及
經驗豐富之人才，激勵彼等留任恒隆地產
集團並鼓勵彼等為恒隆地產集團之未來發
展及擴充作出努力。
根據計劃，恒隆地產董事局獲授權向經揀
選參與人士（包括恒隆地產集團旗下任何成
員公司之員工及董事）授出股份期權，惟
須遵照相關條款及條件，如恒隆地產董事
局或會逐個或整體指定表現目標。股份期
權之行使價由恒隆地產董事局於授出時釐
定，並必須為恒隆地產股份之面值、於授
出日期之恒隆地產股份收市價及於緊接授
予前五個營業日之恒隆地產股份平均收市
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
權可認購恒隆地產股份數目均由恒隆地產
董事局於授出時予以釐定。
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