O TTO M ARINE L IMITED - Microsoft Internet Explorer - SGX

intended to be based on medium-term corporate objectives covering market competitiveness, quality of returns,
business growth and productivity growth. The performance targets are stretched targets aimed at sustaining
long-term growth. Examples of performance targets to be set include targets based on criteria such as sales
growth, and return on investment.
The selection of a Participant and the number of Award Shares which are the subject of each Award to be
granted to a Participant in accordance with the Share Award Scheme shall be determined at the absolute
discretion of the Share Award Committee, which shall take into account criteria such as his rank, job
performance and potential for future development, his contribution to our success and development and the
extent of effort required to achieve the performance target within the performance period.
Notwithstanding the above, the total number of Award Shares which are the subject of each Award to be
granted to a Participant shall not exceed 25.0% of the total Award Shares in respect of which we may grant
Awards.
The Share Award Committee shall decide, in relation to each Award to be granted to a Participant:
(a) the date on which the Award is to be vested;
(b) the number of Award Shares which are the subject of the Award;
(c) the prescribed performance targets;
(d) the prescribed vesting periods;
(e) the performance period during which the prescribed performance targets are to be satisfied;
(f) the extent to which the Award Shares under that Award shall be released on the prescribed
performance targets being satisfied (whether fully or partially) or exceeded, as the case may be, at the
end of the prescribed performance period and upon the expiry of the prescribed vesting period; and
(g) such other condition which the Share Award Committee may determine in relation to that
Award.
Awards may be granted at any time in the course of a financial year. An Award letter confirming the
Award and specifying, inter alia, in relation to the Award, the prescribed performance target(s) and the
performance period during which the prescribed performance target(s) are to be attained or fulfilled and the
vesting period (the length of which will be determined on a case-by-case basis by the Share Award
Committee), will be sent to each Participant as soon as reasonably practicable after the making of an Award.
Special provisions for the vesting and lapsing of Awards apply in certain circumstances, including the
following:
(a) the termination of the employment of a Participant;
(b) the ill health, injury, disability or death of a Participant;
(c) the bankruptcy of a Participant;
(d) the misconduct of a Participant;
(e) the Participant, being a Non-executive Director, ceasing to be our Director for any reason
whatsoever; and
(f) a take-over, winding-up or reconstruction of our Company.
The grant of an Award to a Participant shall be accepted by the Participant within 30 days from the date
of grant. The Participant may accept or refuse the whole but not part of a grant of an Award. If the grant of an
Award is not accepted by the Participant within 30 days from the day of the grant, the offer shall upon the
expiry of the 30-day period automatically lapse and shall be null and void.
Size and Duration of the Share Award Scheme
The total number of Award Shares which may be issued pursuant to Awards granted under the Share
Award Scheme shall not exceed 15.0% of the issued share capital of our Company on the day preceding the
relevant date of the Award. The number of existing Shares which may be purchased from the market for
delivery upon vesting of the Awards granted under the Share Award Scheme, will not be subject to any limit.
Alternatively, we may make a release of Awards in cash instead of Award Shares and Participants entitled to
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