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2.5 Any reference in the Share Award Scheme to any enactment is a reference to that enactment as for the
time being amended or re-enacted. Any word defined under the Companies Act or any statutory
modification thereof and used in the Share Award Scheme shall have the meaning assigned to it under
the Companies Act.
3. Objectives of the Share Award Scheme
3.1 The Share Award Scheme is a share incentive scheme and is an integral part of employee incentive
compensation in the Company’s variable wage system. The Share Award Scheme will give Participants
an opportunity to have a direct interest in the value of the Company’s Shares and help achieve the
following objectives:
(a) to motivate Participants to optimise their performance standards, productivity and efficiency, to
strive toward performance excellence and to maintain a high level of contribution to the Group by
relating their total remuneration to the performance of the Group;
(b) to make employee remuneration sufficiently competitive to attract potential employees with relevant
skills to contribute to our Group by recognising contributions made or to be made and to create
value for the Shareholders;
(c) to retain key employees and directors of our Group whose contributions are essential to the longterm
growth and profitability of our Group;
(d) to promote commitment, dedication and instill loyalty, thereby resulting in a stronger identification
by employees with the long-term prosperity of the Group; and
(e) to foster an ownership culture within the Group which aligns the interest of the Participants with
the interest of the Shareholders.
4. Eligibility of Participants
4.1 The following persons (except (i) directors and employees of the Company who are Controlling
Shareholders or Associates of a Controlling Shareholder and (ii) Lee Kok Wah, the current Group
managing director of the Company) shall be eligible to participate in the Share Award Scheme at the
absolute discretion of the Committee at the Date of Grant :
(a) he shall be:
(i) an Employee; or
(ii) a Non-Executive Director;
(b) he shall have attained the age of twenty-one (21) years; and
(c) he shall not be an undischarged bankrupt.
4.2 The Participants to participate in the Share Award Scheme, and the number of Shares which are the
subject of each Award to be granted to a Participant in accordance with the Share Award Scheme and
the Vesting Period shall be determined at the absolute discretion of the Committee, which shall take into
account:
(a) the financial performance of the Group;
(b) in respect of a Participant being an Employee, criteria such as his rank, job performance, potential
for future development and his contribution to the success and development of the Group; and
(c) in respect of a Participant being a Non-Executive Director, criteria such as his contribution to the
success and development of the Group.
In addition, for Performance-related Awards, the extent of effort required to achieve the Performance
Condition within the Performance Period shall also be considered.
4.3 Subject to the Companies Act and any requirement of the SGX-ST, the terms of eligibility for
participation in the Share Award Scheme may be amended from time to time at the absolute discretion
of the Committee.
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