Annual Report 2009 - Alibaba

DIRECTORS’ REPORT
(vi) Minimum period, if any, for which an option must be held before it can be exercised
There is no specific requirement under the Share Option Scheme that an option must be held for any minimum period
before it can be exercised, but the terms of the Share Option Scheme provide that our board has the discretion to
impose a minimum period at the time of grant of any particular option.
(vii) Amount payable upon acceptance and the period within which the payments or calls must or may be made
or loans for such purposes must be repaid
A remittance in favor of our Company of HK$1 or the equivalent amount in any other currency by way of consideration for
the grant of the option shall have been received by our Company on or before the last day for acceptance as defined by
our board. The remittance is not in any circumstances refundable.
(viii) Basis of determining the exercise price
The exercise price shall be determined by our board in its absolute discretion but in any event shall not be less than the
higher of:
(1) the closing price of the Shares as stated in the daily quotations sheets issued by the Stock Exchange on the date on
which the option is offered which must be a business day;
(2) the average closing prices of the Shares as stated in the daily quotation sheets issued by the Stock Exchange for the
five business days immediately preceding the offer date of the option; and
(3) the nominal value of the Shares.
(ix) Remaining life
Subject to the early termination of the Share Option Scheme pursuant to the terms thereof, the Share Option Scheme
shall remain valid and effective for 10 years commencing on the date of adoption on October 12, 2007.
76 Alibaba.com Limited Annual Report 2009